Ministry of Industry (MoI) said that it is putting various activities in to practice in order to meet the 2025 International Buyers Binding Law/ Agreement of responsible cotton production under the compulsory sustainable cotton producing principle.
Zerihun Abebe, Director of Textile and Garment Industry Sector Study, Follow up and Support within the Ministry stated that as per to the law, the cotton cultivated within the country should be produced considering the environmental and social aspects that might cause on societies. Read more. Source | Ethiopian Herald
Ethiopia has registered a slight dip in the amount of Foreign Direct Investment for 2017, but still was able to absorb half of all $7.6 billion investment for East Africa.
According to World Investment Report of the United Nations Conference on Trade (UNCTAD), FDI flows to Africa slumped to $42 billion in 2017, a 21 per cent decline from 2016 with weak oil prices and harmful ongoing macroeconomic effects singled as causes of the lower funding. But on a consoling note, even all of global FDI has slowed in the last year. Read more. Source | The Exchange
The Ethiopia Economic Update is a publication by the World Bank. It discusses Ethiopia’s growth strategy, emphasizing the sustainability of the country’s investment-focused and export-led growth model.
The publication also looks at the interlinkages between manufacturing and services, with a special focus on the role of distribution services in promoting Ethiopia’s export competitiveness and eventually its structural transformation.
Ethiopian Airlines had made it clear in the early days of February 2018 that it seeks to launch directs flight to Chicago this year to bridge the gap of travelers between the two continents. The Ethiopian has been on scintillating form, fending off its competitors in Africa and establishing its brand as the top-notch airline in the continent. Kenya Airways, among other airline companies have not been able to keep the pace of the competition in the aviation industry giving the Ethiopian too much credit and accolades for its hard work. Read more. Source | The Exchange
Agricultural productivity is closely related to increased utilization of inputs, particularly improved seeds and chemical fertilizers which are key inputs in boosting agricultural production. From time to time, the consumption agricultural fertilizer has been increasing in Ethiopia. Supplying agricultural inputs and fertilizer managing its price is an essential task to get better of farmers’ productivity constraints.
Alemayehu Birhanu, Communication Director at Ministry of Agriculture and Animal Resource told The Ethiopian Herald that to increase the production and productivity of farmers, the timely supply of agricultural inputs with quantity, quality, and affordable price is instrumental. It is also important to expand agricultural service delivery. Read more. Source | Ethiopian Herald
During the second Growth and Transformation Plan (GTP II) period Ethiopia aims to register a 29 percent annual increment in foreign trade and secure 14 billion USD by the end of the period (2019/20 fiscal year). Concerning sector’s contribution, the country eyes to secure 7.7 billion USD from agriculture, 4.2 billion USD from manufacturing industry and 2.2 billion USD from mining.
Ethiopia has also given due emphasis to the manufacturing sector such as textile and garment, leather and pharmaceuticals as well as sugar exports as sources of substantial foreign currency. Read more. Source | Ethiopian Herald
It is believed that priority to agriculture in the short and medium term will create a big domestic market for industry and supply food and raw material to industry. This is anticipated to strengthen the inter-sectoral linkages between agriculture and industry and will lead the economy to the development of industry. The problem, however, is that the urban sector of the economy is somehow ignored and the focus on agriculture has not even emancipated peasants from the havoc of periodic famine. Read more. Source | Ethiopian Herald
Ethiopia is a country blessed with bountiful natural resources like arable land and water, if effectively harnessed, which will help come up with bumper harvest.
Also if well processed, the agricultural yields could go a long way in curtailing the outflow of the much-sought-after hard currency. The resources could as well help in fetching the same. Read more. Source | Ethiopia Herald
As agriculture is the foundation of nation’s economy accounting for 43 percent of the gross domestic products, 80 percent of exports and 83 percent of the total employment, working on accessing farmers with various technology and professional seed supply is crucial, according experts in the field.
Dire Dawa Agriculture bureau extension expert Mohammad Abdullahi said that areas with short rainfall season ought to be provided with necessary agricultural technologies. Read more. Source | Ethiopian Herald
The nation is encouraging local investors and rendering them vibrant to leap to the manufacturing, disclosed Ministry of Industry, MoI. As per its Grouth and Transformation Plan two (GTP II), MoI is supporting investors to contribute their level best to the thriving of the sector.
Hunegnaw Abebaw, Local Investors Transformation Director within the ministry told to The Ethiopian Herald that, it is talking local investors, who are importers and exporters and working on constructions and other sectors to come aboard the manufacturing sector. Read more. Source |Ethiopian Herald