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Ethiopia earned 462 million US dollars from the tourism sector in the last financial year according to the Ministry of Culture and Tourism.

The revenue was earned from 584,000 tourists who were entered the country to visit an range of tourist attractions around the country explained Awoke Tenaw, Director of Public and International Relations with the Ministry.

The number of tourists into the country increased by 14% in the last year while the revenue for the sector showed an increase by 69% in the financial year as compared to the previous budget year according to Awoke.

Indonesia is interested in increasing ties with Ethiopia in a range of investment sectors. The strong and friendly ties between the two countries can serve as basis of increasing economic ties in spite of the poor global economic situation said Ramli Saud,

Indonesian Ambassador to Ethiopia speaking at the event held to commemorate the 67th Independence of the country held at the Ambassadorial residence.

The relationship between the two countries is based on three pillars that of government to government, business to business and people to people he said.

Ethiopia is to host the 11th African Digital Summit in the coming March under the theme of ‘Broadband Strategies and Agendas: Acceleration and Alignment’ according to the Ministry of Information and Communication.

The summit is expected to focus on the need to create a sustainable African Telecom and ICT eco system to support growth and development according to Minister of State Peter Gat Cot speaking at the signing of the Memorandum of Understanding with co-organizers Extensia limited.

It is hoped that summit will enhance integrity in business and technology amongst nations and private stakeholders said Peter.
More than 350 participants representing large ICT companies, government representatives, international solution providers, regulators and major end users are expected to attend the summit he said.

Power exports to Djibouti earn 2.1 Million US dollars monthly according to the Ethiopian Electric Power Corporation.

The EEPCo is currently exporting 34-40 MW of electricity to Djibouti and is generating 2.1 million US dollars  every month said Meskir Negash, Head of Public Relations for the Corporation.  

EEPCo supplies the electricity between five in the afternoon to one in the morning which is not a peak demand period for domestic customers explained Meskir.

Ethiopia’s new Trade Practice and Consumers Protection Authority organized under the Ministry of trade is to launch activities soon.

The authority is intended to safeguard the rights and privileges of consumers to inspect good and to enhance the efficiency of trade according to proclamation 685/2010 which formed it.

The authority is managed by Merkebu Zeleke under the title of Director General and overseeing a range of departments including those focusing on investigation, research, implementation, dissemination and an attorney general.

Ethiopia expects to earn more than 233 million US dollars through the export of leather and leather products this financial year.

The estimated revenue is almost double the amount earned last year according to the projected figures by the Leather and Leather Products Development Institute.

It is to be remembered that Ethiopia earned about 112.1 million US dollars from the sector in the last financial year. The revenue was lower than the 206 million US dollar projected by the institute for the fiscal period.

The Ethiopian Electric Power Corporation secured external financing for the Aysha Wind Farm. The project received money from a Chinese financial firm and a European Investment Bank.

The Aysha Wind Farm is part of the national wind power project to develop national green power. The construction of the windmill is expected to be launched this financial year by the Ethiopian Metal Engineering Corporation.

The farm intended to produce 300MW when completed has been a focus of interest for several international investors.

Mesfin Industrial Engineering, Ethiopia launched a new vehicle model named ‘Addis’. The new model which is equipped with a capacity of 1300cc is the second new line inaugurated by MIE within a year.

The new model is expected to cost the 430 thousand birr with customers paying 30% beforehand and the remaining 70% upon delivery.

MIE has assembled 32 Addis vehicles so far and plans to enhance its capacity to 1000 vehicles every year. The vehicles are assembled by the company from parts imported by Chinese automobile manufacturer Geely International.

A business delegation from South Africa visited Ethiopia this month according to Yayheyrad Abate Deputy Director of the Addis Ababa Chamber of Commerce and Sectoral Associations.

The delegation is part of a series of bilateral agreements to enhance relations he said. The areas of agricultural, education, human resources and tourism were discussed as potential areas of cooperation he noted.

The Johannesburg Chamber of Commerce was represented by the delegation along with companies from the construction sector and a supplier of crushing equipment and an agricultural company.

 ICM Airport Techniques was awarded the turnkey project to construct a cargo warehouse for Ethiopian Airlines. The warehouse to be constructed is intended to be able to hold 1.2 million tons of cargo every year.

The German Company which specializes in airport equipment and Ethiopian Airlines are in the last stages of financial negotiations according to sources.

The new warehouse will increase the airlines capacity for shortage enabling it to give better quality cargo services according to Tewolde Gebremariam Chief Executive officer of Ethiopian Airlines.