Ethiopia is well positioned to become the textile and apparel manufacturing hub of Africa

On 19 November, the International Trade Centre (ITC) organized, under the Partnership for Investment and Growth in Africa (PIGA) project, a dialogue on Ethiopia’s potential to become the next textile and apparel (T&A) supply base for the world. The discussion was organized in collaboration with the Ethiopian Investment Commission (EIC) and the China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT).

Ethiopia Attracts $700 Mln FDI in First Quarter

Nation attracted 700 Million Foreign Direct Investments (FDI) during the first quarter of the on-going fiscal year, according Ethiopian Investment Commission report.
In its report to the House of Peoples’ Representatives Trade and Industry Standing Committee, the Commission said the country has achieved 70 percent of the plan which was projected to bring over a billion U.S. dollar investments during the stated period.
The country attracted the investments from close to 100 new foreign companies being operational in various sectors, the report showed.

Ethiopia to Privatize Sugar Projects in First Quarter of 2020

Ministry of Finance announced six sugar projects will be privatized in the first quarter of 2020.
Finance State Minister of Ethiopia, Eyob Tekalign told journalists that the country is conducting technical assessment, validation of factories and social impact assessment for all the thirteen sugar projects, of which the 6 will be privatized in the stated period.
The assessments on the projects are expected to be completed by the end of next month, he added.

Bill to Liberalise Investment Laws Reaches Council of Ministers

The Council of Ministers has received an amendment bill to the nation's investment law that is expected to open up the economy to foreign capital. Drafted by the Ethiopian Investment Commission, the bill was sent to the Council early this month.
The drafting process took around a year and was undertaken by the Investment Law Revision Task Force, a team of 17 experts. The last time the investment law was revised was in 2014, while it was legislated in 2012. The revision is expected to open up the logistics, financial and aviation sectors.

Alibaba Group to help Ethiopia set up first eWTP hub, the second in Africa

China’s internet giant Alibaba Group, signed a memorandum of understanding with Ethiopian officials to help Ethiopia launch its first eWTP (electronic world trade platform) Hub, the second in Africa After Rwanda.

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Addis Ababa Chamber of Commerce and Sectoral Associations, Trade and Investment Promotion Department

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