State Minister DewanoKedir met with a high-level business delegation from Oman led by Dr. Salim Al Islmaily, Chair of Oman’s Public Authority for Investment Promotion and Export Development. The State Minister, welcoming the delegation, noted that Ethiopia and Oman shared a long-standing relationship. Underlining Ethiopia’s focus on economic diplomacy, the State Minister pointed out that the country was open for cooperation in bilateral trade and investment.

He stressed the huge potential market in Ethiopia, its skilled personnel and ample labor force as well as the relatively low labor costs.Ethiopia, in fact, offered tremendous opportunities for business and investment. The State Minister encouraged investors to engage in the manufacturing sector, the country’s main current priority and further suggested that Omani companies and investors could become involved in other investment opportunities in Ethiopia, including agriculture, tourism, trade, textile and food processing. He emphasized the commitment of the Ethiopian Government to cooperate fully and facilitate investment and business activity in the country. Dr. Salim Al Islmaily appreciated Ethiopia’s suitability for investment and pledged to promote investment opportunities in Ethiopia to Omani investors.

Source:-The Ministry of Foreign Affair’s facebook page

Company to invest USD one billion on Ethiopian potash mine

One of the leading fertilizer manufacturers in the world, Israel Chemicals Ltd (ICL), is going to take over Allana Potash of Canada that owns a potash mine in Ethiopia.

Last year ICL bought 16 of the shares on Allana Potash. On Thursday Allana Potash announced that it reached an agreement with ICL to sell the remaining 84 percent of Allana’s share. The agreement was signed by the two parties in Toronto, Canada at the headquarters of Allana. Allana Potash is a publicly traded company registered in the Toronto Stock Exchange.   

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The 6th international horticulture expo that attracted over 105 foreign and domestic companies kicked off today in Addis Ababa with the Presence of Prime Minister HaileMariam Desalegn.

Companies from Kenya, China, Turkey, Germany, Sweden, the Netherlands, Belgium, and others from the Middle East and Asia are displaying products at the three-day expo.

Buyers from Russia, Germany, Sweden, the Middle East and other countries are also attending the expo.

Speaking on the opening, Prime Minister HaileMariam said Ethiopia has become a center of attraction for Foreign Direct Investment (FDI) in horticulture development.

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International brewers are helping transform Ethiopia's business landscape as it slowly sells the assets of the former communist state and opens up to foreigners drawn to one of Africa's fastest growing economies.

Heineken, Diageo and privately-owned Dutch brewer Bavaria, have snapped up state breweries or built new ones in the past four years, introducing new beverages and increasing competition for St George, Ethiopia's oldest beer brand, that was itself bought by France's Castel Group in 1998.

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In business, location is everything.

When looking for opportunities to invest in sub-Saharan Africa, there are few better places than Ethiopia. The country enjoys a unique location at the crossroads between Africa, the Middle East and Asia.

The investment law protects private property, but apart from this basic requisite for cultivating business confidence, there are other clear cut guarantees.

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Source : East African Business Week