Latest Business Alerts

CNTAC Interested to Invest in Ethiopia

China National Textile and Apparel Council (CNTAC) said it was interested to invest in Ethiopia. A delegation consisted of 52 members discussed with President Mulatu Teshome about investment opportunities in the country. Sun Ruizhe, CNTAC’s president said he came to Ethiopia to undertake a feasibility study on textile on large scale textile investments. He said, “Many Chinese textile entrepreneurs are interested to invest in Ethiopia because we have clear understanding of government policy, high efficiency, incentives and privileges and also the comparative advantage of developing textile industry in Ethiopia.”

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Volkswagen Considers Building a Component Assembly Plant in Ethiopia

Volkswagen (VW) is considering building a component assembly plant in Ethiopia. According to the company’s Spokesperson, Andile Dlamini, the company was investigating entering Ethiopia. He said the “component assembly is the initial business we are looking at. Vehicle assembly is also under consideration in the long term.”

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Addis Ababa City Roads Authority to Launch New Projects

A road designing and construction contracts worth Birr 1.2 billion are concluded between Addis Ababa City Roads Authority and six constructors and five consultancy companies. All the projects are expected to be completed within two years period.

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Ethiopia: Government Set to Establish Agency for the Diaspora

Ethiopia is planning to set up an agency for the Diaspora with a view of improving the general participations of Ethiopian Diaspora. Ministry of Foreign Affairs’ (MoFA) Spokesperson Meles Alem said the decision to establish the agency showed the government’s special attention for the Diaspora community.

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Ethiopia: China Agrees to Extend Debt Repayment Period

Prime Minister Abiy Ahmed announced that China agreed to lengthen the debt repayment period for Addis Ababa-Djibouti cross-border railway. Ethiopia and China held thorough discussions on ways of harmonizing the trade volume between the two countries. In addition, China and Ethiopia agreed on interest rates. They also agreed on finding options which facilitate the shift from loan to development assistance.

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