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Ethiopian Embassy in South Korea and the Korea-Ethiopian Trade Association organized a conference on investment and trade in Busan, South Korea. The conference was aimed at strengthening the investment relationship between the two countries and building trade ties.

The conference saw the attendance of Dessie Dalke, Ethiopian Ambassador to South Korea and Daniel Theresa, Deputy Commissioner of Ethiopian Investment Commission. Ambassador Dessie noted that the strong historical relationship between the two countries should grow to an increased investment exchange. Daniel Teressa, on his part, stated that Ethiopia was ready to support investors who want to invest in Ethiopia.

Source: Fana BC

Ethiopian Railway Corporation (ERC) chose a consortium of Chinese firms, China Railway Engineering Corporation (CREC) and Shenzen Metro Group, for maintaining as well as operating Addis Ababa Light Rail Transit for the coming five years.

2 Chinese construction firms signed agreements with Ethiopian Industrial Parks Development Corporation (EIPDC) for the construction of industrial parks in Ethiopia. As per the agreement the construction companies, China Civil Engineering Construction Cooperation (CCECC) and China Communications Construction Company (CCCC), will be building industrial parks at Meklle and Kombolcha cities at an outlay of 250 million USD.

Ethiopia’s state owned Construction and Business Bank S.C. disclosed it intends to raise the deposit amount to 28 billion Birr which will be a 30 percent increment by the end of the second Growth and Transformation Plan (GTP II). In addition to this, it plans to raise loan mobilization to 8.5 billion Birr and bring down non performing loans to 1.3 percent. With regard to number of branches, the bank’s intention is to increase the number to 175 across the entire country.

The Addis Ababa City Administration Construction and Housing Development Bureau (ACHDB) has temporarily suspended issuing license for new contractors and consultants, according to Capital.