Despite ongoing challenges, Tigray's industrial sector is showing signs of recovery with the launch of 227 new businesses in the past nine months, according to Minister of Industry Melaku Alebel.
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Somali Regional President Mustefie Mohamed presided over the inauguration of a new car assembly factory in Jigjiga city. The factory, constructed at a cost of Birr 250 million, represents a significant development initiative for the region.
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The Ethiopian Investment Commission (EIC) announced a policy shift allowing companies in industrial parks to sell half their production domestically. This aims to incentivize investment, stabilize market prices, and boost production.
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The Southern Ethiopia Region Industrial Parks Development Corporation (SERIPC) announced the launch of avocado oil production for export at the Dila Agricultural Industrial Park.
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The Ethiopian Ministry of Water and Energy signed a memorandum of understanding (MOU) with Ethio Engineering Group and APIMOSO, a Czech Republic-based company. The agreement focuses on the import, assembly, and local manufacturing of water filtration machines.
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Ethiopia's annual expenditure of Birr 1.3 billion on production machinery, primarily imported, has sparked discussions on leveraging capital equipment lease finance to bolster the country's manufacturing sector.
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