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Ethiopian Embassy in Turkey, Adana Chamber of Commerce, and the Consulate in Adana collaborated to host an investment forum in Adana which promoted the investment opportunities in Ethiopia. Turkish investors and Honorary Consuls of three cities participated in the forum which took place on May 26, 2022.

Finance Minister Ahmed Shide, speaking at a panel discussion on industrial development organized by Ethiopian Press Agency under the theme ‘About Ethiopia’, stated that the Government was interested to increase the role and contribution of local investors in the manufacturing sector.

According to the minister, the private sector has already become a major employer and the Government is facilitating the active participation of local investors in the manufacturing sector by creating a favorable business climate and making available land and other facilities.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 26 May 2022.

Ethiopian Airlines, the largest and leading aviation group in Africa, and its longstanding partner, Boeing Inc. today announced the carrier is further expanding its all-Boeing freighter fleet with an order for five 777 Freighters (current freighters).

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 25 May 2022.

Ambassador Dawano Kedir, Deputy Head of Mission of the Ethiopian Embassy in China, stated that the development of the pharmaceutical industry was one of the top priorities of the Ethiopian Government. According to the Ambassador, there are various market opportunities and specially designated locations for foreign investors who are interested to invest in the industry.

The Deputy Head of Mission made these remarks in a virtual discussion held between himself and Southwest Pharmaceutical Co. Ltd, which is one of the top 100 pharmaceutical companies in China. During the meeting, the two parties discussed ways in which the company could invest in Ethiopia.

The Ethiopian Government has set a goal to become a pharmaceutical manufacturing hub by 2025. To realize this goal, the Government has been undertaking various developments in the sector including the establishment of an industrial park on 270 hectares of land which is designated for pharmaceutical companies.

This industrial park which is named Kilinto and located in Addis Ababa, welcomed its first entrant in 2020 when Africure Pharmaceuticals Manufacturing Ethiopia PLC began construction of its plant in the park.

Main Source: Embassy of Ethiopia in China
Other Sources: Ethiopian Investment Commission, Addis Fortune

The telecom service license which was issued to the Safaricom-led consortium wins the Best Utilities Project category of the 2022 Partnership Awards which was held in the United Kingdom.

The Awards took place on Thursday last week in London where the telecom service license was selected to be the winner among five finalists for its introduction of the private sector as part of telecoms liberalization project.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 24 May 2022.

Five companies in Ethiopia, Zemen Bank, Rays Micro Finance, ZamZam Bank, Hijra Bank, and Websprix struck a deal with Ethio telecom on May 20, 2022 to use the latter’s modular data center. 

According to Ethio telecom, the data center will enable these companies to provide reliable services to their customers by modernizing their information technology systems.

Ethio telecom’s Telebirr received a go ahead from the National Bank of Ethiopia to launch micro credit and saving services. 

The Governor of the National Bank, Yinager Dessie (PhD), stated that the provision of these services through Telebirr would financially benefit a large number of Ethiopians. The National Bank’s decision was also given as part of the ongoing reforms to strengthen the Ethiopian digital economy.