Addis Ababa, July 29, 2024 (FBC) – Fisseha Yitagesu, CEO of the Ethiopian Industrial Parks Development Corporation (IPDC), expressed optimism regarding the pursuit of excellence in Eco Industrial Park at Kombolcha Industrial Park. During his visit, the CEO reviewed ongoing operations and toured various manufacturing facilities within the park, engaging […]
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Officials of the Ethiopian Customs Commission have drastically tightened the rules for duty-free import privileges. According to Commissioner Debele Kabeta, only army and national intelligence chiefs, along with the Minister of Finance, would retain granting these benefits. Effective July 22, 2024, the Commissioner ordered his subordinates to halt processing duty-free […]
Addis Ababa, July 26, 2024 (FBC) – During a meeting with the Russian-African Economic Cooperation Committee, Fisseha Yitagesu, CEO of the Industrial Parks Development Corporation (IPDC), expressed the corporation’s desire to attract more Russian investments into industrial parks, aligning with the long-standing relationship between Ethiopia and Russia. Fisseha highlighted the […]
Addis Ababa, July 8, 2024 – In a ceremony attended by key stakeholders, Gelila Manufacturing, a local company, laid the foundation stone for its bus assembly plant at the Mekele Industrial Park, Mekele city, capital of Tigray region. The facility, which spans 31,000 square meters of leased land, will assemble […]
Addis Ababa, July 3, 2024 (FBC) – A significant breakthrough has been achieved as Ethio Engineering Group and Italian steel firm Danieli Co., Ltd. have signed an agreement to revive the stalled Nekemte Steel Processing project. The agreement was signed by Ambassador Suleiman Dedefo, Chief Executive Officer of Ethio Engineering […]
Addis Ababa, July 1, 2024 (FBC) – Chemical Industry Corporation disclosed that it has secured 5 billion Birr in revenue from its industrial chemical input products over the past eleven months. Given the government’s priority, Ethiopia has been becoming an attractive destination for chemical trade. In this regard, the country’s […]
Ababa, June 30, 2024 (FBC) – The recent opening up of the Ethiopian economy for foreign investors allows companies to feel more secure and more organized, French Ethiopia Chamber of Commerce and Industry Chairman Olivier Poujade said. In an exclusive interview with ENA, the chairman stated that the opening up […]
Addis Ababa, June 26, 2024 (FBC) – The Ethiopian Coffee and Tea Authority disclosed that 7.5 million USD has been earned from the export of 8,400 tons of spices during the last 11 months of current Ethiopian fiscal year. In addition to coffee, the authority has given attention to enhancing […]
Addis Ababa, June 25, 2024 (FBC) – According to the latest World Investment Report published by the United Nations Conference on Trade and Development (UNCTAD) last week, Ethiopia has emerged as the leading destination for foreign direct investment (FDI) in East Africa. In the vibrant landscape of East Africa, Ethiopia […]
The newly emerged middle class are trailblazers in their own nations and represent, on a massive scale, agents of global economic transformation. Their effect on the global economy is already starkly apparent in the seismic shift in global economic gravity over the past few decades. Due to a myriad of factors, […]
Officials at the Ministry of Finance have introduced a new excise stamp management directive in a bid to combat illicit trade and enhance tax collection. The directive mandates the use of digital or physical excise stamps on a range of goods, including alcoholic beverages, tobacco products, and bottled water, as […]
Addis Ababa, June 12, 2024 (FBC) – During a meeting with the CEO of Ethiopia’s Industrial Parks Development Corporation, Shibata Hironori, the Japanese Ambassador to Ethiopia, revealed that efforts are underway to encourage more Japanese investors to invest in industrial parks and free trade zones across various sectors in Ethiopia. […]