Speakers of the Ethiopian and South Korean Parliaments expressed their commitment to further strengthen investment cooperation between the two countries.
During talks with with Korean Republic Parliament delegation headed by Speaker Kang Lee yesterday, House of Peoples Representatives Speaker Abadulla Gemeda said tthat at Ethiopia will create favorable conditions for Korean investors interested to invest here.
The project to execute a modern residential address system in Addis Ababa, Ethiopia is showing promising progress according to the Integrated Land Management Information Project Development Office.
The program was launched in two sub-cities as part of the plan to set up an address system dividing streets, blocks and house numbers.
A manual has been prepared to help number each street and house in partnership with hansa Luftbild Consulting, a German company according to Ephrem Belete, Office Unit Coordinator. An address map has already been developed for two woredas and 98% of sign posts have already been put up he said.
Revenue from flower exports grew to 212.5 million US dollars in Ethiopia in the last financial year. The revenue is fourteen percent higher than the money earned in the previous fiscal year because flower exports has grown to 2.1 billion stems from 1.8 billion stems.
The increase in revenue is attributed to the implementation of newly enacted control mechanisms.
The new mechanisms put in place eliminated the previous system whereby custom officials just counted the stems in selected boxes to estimate exports allowing a loophole for exporters to retain some retain some revenue outside of the country.
The revenue Ethiopia earns from the mining sector has grown notably in the last two years according to the Ministry of Mines.
Mining investment projects in Ethiopia were valued at 13 billion birr in 2010 but this sum has increased by 1.1 billion birr to reach 14.1 billion birr according to Bacha Faji, Ministry of Public Relations and Director of Communication.
The ministry has also licensed 56 more investment projects in the last two years with most of the licenses issued in the petroleum exploration and mineral exploration sectors he noted.
Ethiopia has been able to secure 162 million US dollars from petroleum exploration licenses, royalty tax, signing bonus and building payments in the previous fiscal year.
Revenue from remittance in Ethiopia showed an increase in the second half of the fiscal year out performing earnings from 
exports according to the National Bank of Ethiopia.
Private transfers of remittance totaled 1.74 billion dollars in the last seven months of the financial year which is a 19.6% increase from the same period in the last financial year explained Teklewold Atnafu, Governor of the National bank in a report presented to the House of Peoples Representatives.
The lower than expected export earnings, and 140 million US dollars less than revenue from remittance, has had a negative effect on the trade of balance with increase in imports and rising inflation.
