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The Netherlands has become Ethiopia’s number one export destination, Ethiopia's Ministry of Trade Announced. During the 2019/20 fiscal year that ended on July 7, Ethiopia has exported over $322 million worth of commodities to the Netherlands, the Ministry declared. The Netherlands is also the top investor from European nations in Ethiopia.

Ethio Telecom has developed a three-year growth strategy for the three year period 1 July 2020 to 30 June 2023, and a business plan for the year 2020/21, the first year of the period for which it has devised a growth strategy. To ensure competitiveness and sustainable growth of the company, the strategy has been developed by considering and reviewing relevant government policies, international best practices, and Industry trends, Ethio Telecom said in a statement.

Ethiopia's sole telecom services provider Ethio Telecom has announced that it is cutting down tariff on internet and voice call services, starting tomorrow, August 27, 2020. Frehiwot Tamiru, Ethio Telecom's CEO, broke the news during a media briefing on the company's three-year strategy and 2020/21 plan.

Ethiopian Pharmaceutical Manufacturing Share Company (EPHARM) said it is prepared to begin exporting pharmaceuticals to Somaliland and South Sudan starting mid-2021. The company observes this will help address the pressing forex shortage, thereby helping the production of supplies to be used as preventive for COVID-19.

Ethiopia's Ministry of Agriculture announced that Ethiopia has become Africa's second-largest flower exporter, next to Kenya. Wondale Habtamu, horticulture state minister of agriculture, said Ethiopia has "done well" in the 2019/20 fiscal year exporting cut flowers.

Ethiopia's industrial parks being constructed all over the country will go fully operational in the new Ethiopian year that begins September 11, 2020, the Industrial Parks Development Corporation (IPDC) announced. As of now, seven of the 12 industrial parks are operational.

Kerui Petroleum, Chinese equipment and oil services company engaged in an energy project in Ethiopia, announced it has successfully lifted the derrick and substructure for the first 1500HP drilling rig at Aluto-Langano, Ethiopia's 70 MW geothermal energy project.

Ethiopia's Ministry of Agriculture announced that 85 percent of originally targeted 12.89 million hectares of farmland, which is close to 11 million hectares, is covered by seed this farming season.