Ministerial Forum Cites Stymies of Construction Investment

May 20 , 2023

Hundreds of international and local exhibitors, 600 industry players and 19,0000 visitors gathered to attend the three-day Exhibition held at the Millennium Hall last week. A ministerial forum between Finance, Mines, Industry, Planning & Development, Urban & Infrastructure ministries and Ethiopian Investment Commission (EIC) was held on the first day to discuss investment opportunities in construction. Unskilled human power, flawed project management, and deficient business linkage were cited as the major hurdles to the construction by Chaltu Sani, minister of Urban Development & Infrastructure. Although construction accounts for 19pc GDP, showing 11pc growth in the past few years, it has been plagued with intricate challenges that have bottlenecked its growth. Ahmed  Shide, minister of Finance, disclosed their plan to expand Public Private Partnerships (PPP) by structuring transferability and sustainability guarantees through incentives for domestic and international investors. He said insurmountable public spending on infrastructure has greatly contributed to the galloping inflation despite 60-65pc of the government's budget going to construction. State Minister for Planning & Development, Sandokan Debebe, announced the 10-year infrastructure, irrigation, and energy development plan. According to Sandokan, 224,000km of road will be built by 2033, doubling the current reality. The Ministry has plans to quadruple the energy output to 20,000MW by expanding transmission lines. "There are a lot of investment opportunities," he said.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...