Qatar business delegates lead by Sheik Kahlid Tahni of Auzdan Holdings Group shown interest to invest in various economic sectors including real estate, hotel and tourism (a luxury six star hotel and lodges), and manufacturing.
The 10th U.S. Africa Business Summit will be held from February 1-4, 2016 in Addis Ababa at UN ECA Conference Hall. It is learnt that more than 1,000 American and African companies, government officials and head of companies will be attending this important meeting.
The government announced that CBE, which is the largest government owned commercial bank in country merged with CBB, another government owned bank specialized in housing and building financing. For more please read http://www.thereporterethiopia.com/content/beyond-%E2%80%9Cmerger%E2%80%9D
SGI, an American Investment Firm acquired 45% share in Family Milk (MB Private Limited Company) by investing up to seven million dollars. The milk processing plant is located around Lebu area, which is approximately 10 kms from the city center. For more please read http://addisfortune.net/articles/equity-firm-local-industry-partnership-in-dairy/
The government through the ministry of Finance and Economic Dev’t , is ranking manufacturers by value addition for duty free benefits based on a new directive expected to be approved this month. Unlike the existing directive (35/2013), the new one will provide import privileges for value additions ranging from 0.05pc to 40pc.
Among others, it introduces a sector specific requirement that takes into consideration the human resource and technology capacity of each beneficiary. Accordingly, the lowest value addition of 0.05pc is tagged for mobile phone assemblers while the 40pc is for breweries. For more please read http://addisfortune.net/articles/new-incentive-rates-for-local-manufacturers/