2merkato

The Ethiopian Ministry of Culture & Tourism (MoCT) has unvield a new draft directive to  govern the standards of hotels and lodges. The latest draft document comes two years after the ministry suspended earlier standards whic failed to garner the approval of stakeholders of the hospitality industry.

The draft standard is prepared by the Scotland based company, Dunira Strategy. Dunira Strategy was awared the contract through an international bid two years ago.

The Ethiopian Ministry of Industry and , Eshet Engineering Ltd, an Israel based company formed a company through a joint venture to establish an industrial park in Kombolcha town, Amhara Regional state of Ethiopia, Capital reported.

The Kombolcha industrial park will be constructed on 1,000 hectare plot to host prioritized export-oriented sectors, such as textile and garment, leather and leather products, and agro-industries.

The Ethiopian Ministry of Industry will own 5 percent Eshet will own the remaining share of the industrial park, according to the Memorandum of Understanding (MoU) signed on August 6, 2013 by  Sisay Gemechu, State Minister of MoI responsible for the industry sector in the Ministry, and representatives of Eshet Engineering Ltd.

The MoI will provide the plot at its own cost, relocate and compensate settlers on the land, provide infrastructure for the area such as electricity, telecom and water supply, while Eshet will cover all the costs related to design and construction of the industrial park.

Eshet Engineering Ltd. is a design and consulting company established in 1987 by Doron Oz, a civil engineer.

Source: Capital

The Ethiopian Ministry of Mines and Petroleum announced that it has issued 24 investment project licenses for exploration and licenses of minerals and petroleum. The investment projects have a combined capital close to $170 million (4.95 billion birr).

The Ethiopia Commodity Exchange (ECX) has signed an agreement with the Ministry of Mines and Petroleum "to leverage the exchange for commodities such as precious gemstones", Takele Uma, Minister of Mines and Petroleum said.

The Ethiopian Ministry of Mines (MoM) signed a petroleum production sharing agreement (PPSA) with Poly GCL Petroleum Investment Ltd., a Chinese based company, Fortune reported.