Ethiopia has saved $2.8 million during the fiscal year that ended on July 7, 2020, Dagmawit Moges, Ethiopia's Minister of Transport said. This, she related, is due to a reform undertaken to improve the logistics sector.
Ethiopia save an estimated 20 million US dollars on oil imports by blending more than 32.8 million liters of ethanol with benzene said the Ministry of Water and Energy.
A major percentage of the ethanol produced within the country in this financial year was used for blending with Benzene according to Bizuneh Tolcha, Director of the Public Relations and Communications Directorate of the ministry.
The percentage of ethanol to benzene in the blending process has been increased from just 5% three years ago to 10% in the last year allowing Ethiopia to save more than 20 million IS dollars on oil imports said Bizuneh.
African countries need to concentrate on building a green economy, said Meles Zenaw,i Prime Minister of Ethiopia, speaking at the annual Conference of African Ministers held in Addis Ababa, Ethiopia.
Alternative development paradigms are necessary because of the failure of neo-liberal paradigms in African development Meles said.
The economies of African countries are largely based agricultural activities and therefore any efforts toward green development need to take in account the agrarian sectors the Prime Minister explained.
Ethiopian Investment Commission (EIC) says it attracted USD 2.3 billion in investment during the first six months of the current fiscal year, citing ongoing efforts to ease bottlenecks in the investment environment.
Ethiopia announced that it would welcome more Vietnamese investors in the trade and manufacturing sectors. It said it would offer attractive incentive packages for the Vietnamese companies and entrepreneurs especially for those who would engage in priority sectors. Vietnamese business delegation which is composed of 50 businessmen discussed with Ethiopian officials about potential investment areas and opportunities in Ethiopia.
