2merkato

Ethiopia’s Council of Ministers, approved a set of policy decisions on Tuesday covering customs reform, investment incentives, and entrepreneurship development.

Ethiopia canceled the plan it made to construct a fuel pipeline that stretches to its neighboring country, Djibouti. The pipeline was planned to be constructed by Black Rhino Group, South African based infrastructure investment group.

The Privatization and Public Enterprises Supervisory Agency, Ethiopia cancelled the proposal to sell Awash Winery due to unsatisfactory bids.

The agency had cancelled four previous tenders for the winery for similar reasons.

The sole bid for the winery was an offer of 201 million birr received from the partnership between Mulugeta Kiros and Tigist Demeke. PPESA declined the offer as being lower than the minimum it had expected.

The Ministry of Mines, Ethiopia canceled the precious metal exploration license of three international and one domestic mining companies.

The companies that lost their licenses are Ethio-Dubai Investment plc, CGC Overseas Construction Ethiopia, Alem Gems and Managem plc.

Managem plc had the largest concession of 579 km2. Domestic companies Alem Gems had previously been licensed for gold and base metal exploration and Ethio-Dubai was licensed to explore gold and rare metals.

CGC, was licensed to operate two concessions covering a total area of 93 KM2 to explore for gold, tantalum and other rare metals.

World Consumer Rights Day (WCRD) was celebrated by the Ethiopian Trade Competition and Consumers Protection Authority intending to promote the obligatory rights of all consumers, who are at liberty to claim the respect and protection of their rights to regulate the abuses and injustices that consumers are compelled to face, Ethiopian Herald reported.