2merkato

Ethiopian Airlines has registered rapid and profitable growth in the past two years in spite of the global economic crisis and periodic increases in petroleum price.

The increase in petroleum prices, the global economic crisis and political instability in the Middle East has been a significant challenge for other airlines according to the Public Relations and Communication Service of the airline.  

Ethiopian Airlines managed to remain profitable and competitive during this financial year by synchronizing its services with the demand market and offering favorable flight conditions for passengers.

Summit to introduce low hanging sector opportunities for local and foreign investors in Ethiopia.

Within the span of less than a decade, Ethiopia emerged as a global player in the cut flowers business ranking only second to Kenya.  With a good mix of incentives and active facilitation, the Government of Ethiopia took a non-existing flower sector and developed it into a USD $200 million export sector with more than 85,000 jobs created.  This was possible because Ethiopia enjoys an inherent comparative and competitive advantage in the production and delivery of flowers.  While Ethiopia’s agro-climatic and altitude variety give it vast advantages in growing a wide variety of fruits and vegetables, its location affords it fast and cheaper transport and delivery potential. The country is now determined to repeat the flower miracle, this time to develop a robust export oriented fruits and vegetables sector.

“The potential this country has in fruits and vegetables is even more awesome,” said Ato Hailesilassie Tekie, Director General of the Ethiopian Horticulture Development Agency.  “While there are plenty of opportunities for commercial farmers, there also exists significant opportunities in harnessing smaller holder farmers into outgrower schemes.  The opportunities are endless.  As the sector is very high on the priority of the Government of Ethiopia, we are preparing suitable land for investors, creating a better business operating environment, as well as facilitating adequate cold chain and logistics investments to ensure produce reaches regional and global markets in an efficient manner” he added.

Ethiopia is to establish three institutes and develop Kombolcha Technology Institute to address the shortage of human resource in the textile and garment sector. It is expected that the institutes will commence operations in the next budget year.

The initiative to establish the institutions came from the Export Committee, which aims to support export-driven sectors by addressing challenges such as finance, electricity, land and human resources.

The Export Committee, chaired by Prime Minister Meles Zenawi, discussed means to address the need for at least 1.3 million trained personnel for the textile and garment sector with just 40,000 people currently engaged in these industries according to a study undertaken by experts from the Textile Development Institute.

Nine oil exploration companies are actively operating in Ethiopia with an estimated investment of 2.4 billion US dollars according to the Ministry of Mines.

The exploration companies are primarily operating in Afar, Gambella, Middle Abay, Rift Valley, South Omo Somali and Ogaden areas said Bacha Fuji, Director of Public Relations with the Ministry.

The companies are at different stages of the exploration process he said.

The Ministry has earned above 16.23 million birr from land rent, licensing, training and related activities noted Bacha.