Ethiopia is targeting $1 billion of annual investment in industrial parks over the next decade to boost exports and make it Africa’s top manufacturer, a special adviser to Prime Minister HailemariamDesalegn said.

The government may invest half of the $10 billion needed for zones across the country that will house textile, leather, agro-processing and other labor-intensive factories, ArkebeOqubay said in an interview in the capital, Addis Ababa. The International Finance Corp., the World Bank’s private lending arm, along with Chinese and European lenders and private-equity funds are interested in projects, he said.

“In terms of industrial development and manufacturing development, we want to put Ethiopia number one in Africa,” Arkebe said in Addis Ababa.

 

Read more at: http://www.bloomberg.com/news/articles/2015-05-18/ethiopia-plans-manufacturing-hub-with-10-billion-factory-parks

 

As a corporate lawyer in Germany, I am used to setting up companies for foreign investors in Germany and other countries in Europe.

However, I was now charged with setting up a subsidiary for a German holding in ETHIOPIA. The reaction of my friends and colleagues was: This will be complicated, long drawn out and full of obstacles – and you will surely be asked for money right, left and centre.

see more at:-

https://www.linkedin.com/pulse/doing-business-africa-one-day-addis-ababa-lutz-hartmann?trk=prof-post

MIDROC Ethiopia Technology Group announced that it would expand its projects in agro-industry and mining sectors with 8 billion birr.
During the press briefing he gave yesterday, MIDROC Ethiopia Technology Group CEO Dr. AregaYirdaw said the projects include gold mining development; modern poultry, irrigation supported animal fooder development, and integrated milk and meat development, among others.

The CEO indicated that BenishangulGumuz, Amhara and Oromia regional states are favorable areas for mining, poultry, as well as diary, fodder and meat, respectively.

See more at: http://www.ena.gov.et/en/index.php/economy/item/748-midroc-to-expand-investment-with-8-billion-birr

Turkish companies engaged in electric and electronics eye the Ethiopian market, said FatihEbiclioglu Chairman of the Electric, Electronic Exporters Association.

While discussing with President MulatuTeshome here today leader of a 6-person delegation, FatihEbiclioglu said Ethiopia is one of the biggest markets in the African continent and is strategic to reach other countries.

“We believe that Ethiopian market would provide big opportunity for Turkish companies and Ethiopian companies as well” Fatih said.

The delegation, representing 27 companies came to Ethiopia to look business and investment opportunities in addition to possible partnerships with their Ethiopian counterparts.

President Mulatu Teshome briefed the delegation about Ethiopia's potential in renewable energy and its activity to generate power from geothermal, wind, solar and water, saying it is profitable to invest in this area.

The President said agri-business, construction, textile, leather, cotton production, food processing and mines exploration are among other investment areas that will benefit companies.

Source: Ethiopian News Agency

PM Hawassa Industrial Park

Favorable conditions are being created to make the industrial sector take a leading role in the country’s economy, Prime Minister HailemariamDessalegn said.

Speaking at the laying of cornerstone for the construction of an industrial park in Hawassa city today, the Prime Minister said the government is focused in making farmers and pastoralists benefit from their products by undertaking improved agricultural-based development in the country.

The current growth level of the country would enable to create a favorable condition for the laying of foundation for the steady transfer of the nation to industrial development, he said.

Industrial Parks Development Corporation Board Chairperson, ArkebeEqubay, said on his part that Hawassa is one of the places selected for the development of industrial parks at federal level.

See more at: http://www.ena.gov.et/en/index.php/economy/item/689-pm-lays-foundation-for-hawassa-industrial-park