Zeleke Temesgen (PhD) has been appointed as the new commissioner of the Ethiopian Investment Commission (EIC) after previously serving as deputy commissioner. His predecessor, Hanna Arayaselassie, who also formerly led Ethio Post, was appointed as the new minister of Justice. Hanna navigated through different investment reforms in her brief tenure at the commission with the most notable being the opening of trade sectors, including export, import, wholesale and retail to foreign nationals. The new directive allowed foreign investors to participate in the trade of key commodities such as raw coffee, khat, oilseeds, pulses, hides and skins, forest products, and livestock. A few months ago, EIC announced over 3.8 billion dollars in foreign direct investment (FDI) in the past fiscal year, an 11.5pc growth year-on-year. The Commission unveiled a two-year strategic plan to improve logistics operations and rolled out competitive incentives to attract foreign investments. Prime Minister Abiy Ahmed (PhD) made a change to his cabinet two weeks ago, including the appointment of Gedion Timotheos (PhD), Hanna's spouse, as the new minister of Foreign Affairs. This appointment fills the vacancy created by the inauguration of former Minister Taye Asqeselassie as the country's president earlier this month.
Loading your updates...