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The Ministry of Industry announced that 663 manufacturing industries became operational in the past 5 months creating employment opportunities for 9,600 individuals. The Ministry also stated that domestic products substituted import goods worth USD 708 million during the same period.

According to Melaku Alebel, Minister of Ministry of Industry, the manufacturing sector is being revived while investors are entering new investment areas. The country was able to export goods worth USD 161 million since the start of the current fiscal year.

Source: Ethiopian Press Agency

Ethiopia announced the incentives it will be providing for local investors who will engage in the Hawassa Industrial Park.

Ethiopia’s Ministry of Finance and Economic Cooperation (MoFEC) disclosed a draft amendment bill for the income tax regime.

Two new private flower firms from India and the third from Netherlands have lately joined the Ethiopian flower market, according to Ethiopian Horticulture Agency.

Portland Pretoria Cement (PPC) disclosed it acquired the 20 percent stake Industrial Development Corporation had in Habesha Cement Share Company (HCSCo). PPC bought out Industrial Development Corporation for U.S. $ 13 Million.