The Ethiopian Ministry of Foreign Affairs announced that the tripartite meeting on the Grand Ethiopian Renaissance Dam (GERD) on the Nile, held in Washington D.C. from January 13 to 15, has been fruitful in marking "a major breakthrough."
Merck, a German company engaged in innovation and provision of high- tech pharmaceutical, chemical products and other medical services has opened a new office in Ethiopia.
Mercy Corps is to establish a 10 million US dollar private equity fund in Ethiopia to encourage foreign investment, primarily in agriculture, according to Dominic Graham, Country Director. Initial interest has been expressed by several American and British companies he said in a interview.
The non-governmental organization is seeking rapid growth which is why it opted for private equity as opposed to debt financing according to Graham.
This aim is not about incremental change but large steps to move the country from middle and poor income status within a short period of time.
Mesfin Industrial Engineering, Ethiopia is planning to build Geely cars within the next five years with the Chinese company. 
The manufacturer expects to commence full blown production within the next three to five years according to Habte Hadish, General Manager of MIE.
MIE is currently assembling six cars a day but is looking to begin manufacturing cars completely within the country he said.
Mesfin Engineering registered 620 million birr in revenue in the last fiscal year and has projected to earn 1 billion birr in this financial year. The company currently assembles trucks for International Tractors Ltd, which is part of Hoshiarpur, Indian based Sonalika group.
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.
