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An agreement is signed between the French Malteries Soufflet and Industrial Parks Development Corporation to construct a malt plant in Ethiopia. The Ethiopian Agricultural Transformation Agency (ATA) said the plant would be completed within 2 years time ad would start production in 2020. The land lease agreement is the culmination of a negotiation between the two organizations, facilitated by ATA and the Ethiopian Investment Commission (EIC).

Ukraine’s Foreign Ministry’s press service reports that Ukraine will open a visa center in Ethiopia on July 16. According to the report, the center will commence its operation on July 16, 2018 in Addis Ababa, in Morning Star Mall, 3rd Floor, Bole area, run by VF Worldwide Holding Ltd.

According to a new World Bank Group Report, Ethiopia’s GDP growth rate will decrease by 1.3% in the current Fiscal year from last fiscal year’s 10.9% growth.

Official Statistics show that the country’s GDP growth rate averaged 10.3% for a decade.

A joint venture company of Rifeng China and Rifeng Ethiopia is to construct the first aluminum pipe factory in Ethiopia with a 380 million Birr capital in Debre Brehan, Amhara Region. It is expected that the factory, which will be built on a 10,000sqm plot of land with a plan to expand to 15,000sqm after the beginning of production, will produce 381,000m to 211,000m of pipe a month. It will produce pipelines that are 60m to 100m long along with their fittings. The company plans to finish the construction of the factory within a year’s time and to start production in 2019.