Newly-opened Trade Sectors Attract 21 Investment Applications


Newly-opened Trade Sectors Attract 21 Investment Applications

The Ethiopian Investment Commission has received 21 applications for investment licenses from foreign investors looking to tap into newly opened retail and export sectors. The Ethiopian Investment Board recently issued a directive opening nearly all trade sectors to foreign investors. Since its implementation in July, 13 licenses for import and eight for export, primarily coffee, have been applied for. Mesfin Tafesse & Associates (MTA) LLP, a 17-year-old firm, hosted the ‘Ready Business Roadshow’ under the auspices of the African Legal Network (ALN) to explore Ethiopia’s business and investment opportunities. The forum featured prominent government leaders, including Eyob Tekalign (PhD), State Minister for Finance, Brook Taye (PhD), CEO of Ethiopia Investment Holdings, Habtamu Simachew (PhD), Senior Advisor at the Ethiopia Investment Commission, and Ermias Eshetu, former board chairman at Zemen Bank. MTA has been instrumental in advising the government on economic and commercial laws, including the 2021 Commercial Code. Eyob highlighted a significant shift in the government’s attitude towards partnerships over the past six years. Habtamu discussed efforts to transform industrial parks into special economic zones, incorporating essential services and technology to align with government policies. He noted that 80 of 100 reform agendas have been addressed, with 85 legislations introduced or amended. The Ethiopian government’s 10-Year Development Plan prioritizes seven sectors: Agriculture, Manufacturing Industries, Mining, Tourism, Urban Development, Innovation and Technology, and Energy. Habtamu also mentioned that the AfCFTA steering committee is working to align with Ethiopia’s 22 bilateral trade agreements while Brook emphasized that Ethiopia Investment Holdings oversees 33 entities and collaborates with local investors, particularly in the real estate and hospitality sectors.


Radar

Historic Africa Hall's $57 million Renovation Eyes Tourists

The iconic Africa Hall, where the leaders of 32 African nations gathered in 1963 to establish the Organization of African Unity (OAU), the precursor to today's African Union (AU) was inaugurated after comprehensive renovation works at a cost of 57 million dollars. Initially designed by Arturo Mezzèdimi, a young self-taught architect, and constructed by Luigi Varnero to serve as the UN's continental headquarters, the hall now looks set to open to the public and add to Addis Abeba's touristic pro...


Radar

Investment Holdings Backs Electric Mobility with Battery Swap Stations

Ethiopian Investment Holdings has made its second joint venture with an electric mobility startup company to avail 100 battery swap stations in Addis Abeba within a year and expand to 300 stations over the next three years. The company, Dodai, plans to offer e-motor riders to quickly exchange depleted batteries for fully charged ones, lowering downtime and is expected to create 100,000 jobs for the youth. Brook Taye (PhD), CEO of EIH and Yuma Sasaki, founder and CEO of Dodai signed a Memorandum...


Radar

Expo Looks to Enhance Underdeveloped Agri Subsectors

A three-day agricultural exhibition assembling stakeholders from the poultry, aquaculture, apiculture, and livestock is set to kick off at Millenium Hall on Airport Road. Organised by Prana Events, the exhibition aims to promote commercial production, increase productivity and enhance the use of technology across the agricultural subsectors by bringing international and local traders together. Over 1,000 exhibitors from 14 countries are expected to attend the event. Nebiyu Lemma, managing direct...


Back
WhatsApp
Telegram
Email