The amount of revenue Ethiopia has garnered from oil seeds, cereals and other products in the first quarter of this year has lowered by 41.3 percent compared to the same period past year, Ministry of Trade reported.
The Ethiopian Revenue and Customs authority held talks with business people from the Merkato area, center for business activity in Ethiopia. The meeting was held at the National Lottery Administration Hall last week.
The meeting was expected to relax some tension in the Merkato business community following the drastic measures enforced by the ‘The Merkato Project’ to enforce tax compliance.
The Korea International Cooperation Agency (KOICA) has dedicated USD 10 million to a five-year initiative aimed at enhancing dairy farming in Ethiopia. This project's primary objectives are to increase milk production and productivity, enhance the capabilities of dairy farmers, and establish connections between dairy farmers and agro-industries.
Ethiopia’s dairy sector has experienced growth through the “Bounty of the Basket” (Yelemat Tirufat) initiative, nearly doubling milk production to 12 billion liters in three years, the Ministry of Agriculture reported. The number of crossbred cattle has also increased eightfold.
Ambassadors of different countries to Ethiopia said the Ethiopia’s ongoing reforms would help create favorable conditions which will lure more investors to the country.
According to Anuraga Srivastava, Indian ambassador to Ethiopia, Indian investors are showing a lot of interest to invest in Ethiopia after the country’s current economic reform. He said more Indian investors are considering various investment sectors, including food processing, plastic, leather and garment. The Ambassador noted that India “would like to participate in the economic reforms as we are a close economic and political partner of Ethiopia. We stand ready to participate in the process.”
