Business forum inspires Singapore investors to invest in Ethiopia


The forum inspires Singapore investors 

Addis Ababa  September 08/2016   The Singapore- Ethiopia business forum being held in Addis Ababa will inspire investors to look Ethiopia as a potential investment, business and tourism destination, the country's senior official said.

Singapore business persons and company representatives drawn from hospitality industry, health, education, manufacturing, agriculture and commodity trade are in Ethiopia to explore investment opportunities in the country.

Industrial parks shaping future of manufacturing sector

Industrial Parks Shaping future of Manufacturing Sector

Before 1957, manufacturing industries in Ethiopia were dominated by cottage and handcraft industries which met most of the population’s needs for manufactured goods such as clothes, ceramics, machine tools, and leather goods.

Various factors, including lack of basic infrastructure, the absence of private and public investment and the lack of any consistent public policy aimed at promoting industrial development, contributed to the stagnation of manufacturing industries.

Since 1991, as a result of economic liberalization and commissioning of a comprehensive industrial policy, various reforms reversing the command economy were introduced.

A full-fledged Industrial Development Strategy (IDS) was formulated in 2002/2003, concretized into action by various sub-sector strategies and by the successive development plans such as; Sustainable Development and Poverty Reduction Program (SDPRP) 2002-2005 and  the Plan of Action for Sustainable Development and Eradication of Poverty (PSADEP) 2005, 2010 and the Growth and Transformation Plan (GTP-I) 2010-2016. 

Youth empowerment effort to address Africa's industrialisation

Youth empowerment to Africa's industrialization

The African Development Bank (AfDB) President, Akinwumi Adesina, has addressed the challenge of creating jobs for youth in Africa, while outlining a number of initiatives the Bank is undertaking to stop the unemployment crisis from complicating Africa's current security challenges.

"The future of the African youth lies in a prosperous Africa, not at the bottom of the Mediterranean Sea. Africa hosts the world's youngest population," President Adesina told an Africa Youth Entrepreneurship Forum at the Sixth Tokyo International Conference on African Development (TICAD VI) in Nairobi, Kenya, on Sunday, August 28, 2016.

The Forum, under the theme: "Catalysing the Next Generation of Africa's Youth Entrepreneurship for Sustainable Industrialisation," focused on the steps required to turn the agriculture sector into a centre of economic growth and industrialisation.

Ethiopian, Swedish MPs to strengthen cooperation

Ethiopia and Sweden to Strengthen Cooperation

Ethiopian and Swedish parliamentarians have pledged to work closely to further strengthen cooperation between the two countries.

The visiting Swedish MPs yesterday met with members of the Foreign Affairs Standing Committee of the House of People's Representatives.

Committee Chairperson Tesfaye Daba reaffirmed commitment to further strengthen the longstanding relations between the two countries.

Sweden has been providing significant support to Ethiopia, he said ,adding the involvement of Swedish investors in the agriculture sector will contribute towards modernizing the sector.

.Wafa Organizes a Successful Inauguration of Hawassa Industrial Park

Wafa Organizes a Successful Inauguration of Hawassa Industrial Park

Wafa Marketing and Promotion has successfully carried out the inaugural ceremony of the Hawassa Industrial Park (HIP) in collaboration with the Ministry of Industry, the Ethiopian Investment Commission and the Industrial Parks Development Corporation.

The park constructed in the heart of Hawassa city has a total area of 1.3 million square kilometer and the first phase was developed at a cost of 270 million. The HIP which is dubbed eco industrial park is unique in the country in its zero liquid discharge with the facility for the purpose constructed on 32,700 square meters of area.

The inauguration of the park was graced by the presence of Prime Minster Hailemariam Dessalegn and high ranking federal and regional government officials. 

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