[Junior AJA- Ethiopia Report] Ethiopia offers incentives to woo South Korean investors

Below is a round up of recent news in Ethiopia

Ethiopia offers incentives to woo South Korean investors

Ethiopia has invited South Korean companies to take advantage of its fast growing economy, large population, substantial market opportunities, air transport network and a conducive investment regime with a wide array of incentives for new investments.
According to African manager online news reportage, Ethiopia’s Foreign Affairs Minister, Dr. Tedros Adhanom, told visiting president of South Korea International Cooperation Agency (KOICA), Mr. Young-Mok Kim, to encourage Korean firms to turn their eyes to the East African country since it appreciates the existing bilateral development cooperation.

KOICA’s major activity in Ethiopia centres is increasing industrial capacity through vocational training, but Mr. Kim, who visited a KOICA model village in Oromia Regional State, said the agency would expand its activities in rural development.

In a statement Tuesday, the Ministry of Foreign Affairs here quoted Dr. Adhanom as saying that he appreciated the development cooperation between South Korea and Ethiopia and expressed hope that the historic ties between the two countries would grow through increased investment and cooperation.

The minister noted that his visit to South Korea this year enabled him to appreciate the growing interest of big companies such as Samsung to invest in Ethiopia.

He said that Ethiopia offered huge opportunities to South Korean investors interested in floriculture, a discipline of horticulture concerned with the cultivation of flowering and ornamental plants for gardens.

Addis Ababa (photo: ERTA)


Read more: http://www.africanmanager.com/site_eng/detail_article.php?art_id=20658

Ethiopian athletics squad accorded warm reception

The Ethiopian athletics team that took part in the 14th World Athletics Championship held in Moscow form 10 to 18 August, 2013 was accorded a warm welcome on the morning of  Wednesday August 21 in Addis Ababa, the capital city of Ethiopia.

Deputy Prime Minister Demeke Mekonen and Ethiopian Athletics Federation Commission Commissioner Abdissa Yadeta, at the middle, with the Athletics squad posed for photo

The squad returned home with 3 gold, 3 silver and 4 bronze world medals, which altogether put Ethiopia 6th in the world rank and 2nd from Africa.


(Photo: ERTA (Ethiopian Radio and Television Authority))


Mohammed Aman(800m gold medalist) and Tirunesh Dibaba(10,000m gold medalist)

Speaking on the occasion, Deputy Prime Minister Demeke Mekonnen cheered the athletes over excellently discharging their ambassadorial role at the Moscow international forum.

Demeke said besides feeling proud over the accomplishment, the nation should capitalize on it for even better achievement. And he called on pertinent bodies to attach due attention to producing young athletes thereby diversifying Ethiopia’s involvement across disciplines.

He also pledged an all-round support of his government to the development of athletics sports.

Similarly, the Ethiopian Athletics Federation dedicated the medals it collected at the 14th World Athletics Championships to the late great leader Meles Zenawi whom it said has contributed greatly to the development of athletic sports.

In line with the above, IAAF has announced that Meseret Defar and Tirunesh Dibaba will compete at next month’s Bupa Great North Run, an IAAD Gold Label Road Race, in Newcastle on September 15.

Read more: http://www.iaaf.org/news/news/defar-and-dibaba-finally-to-clash-at-the-grea



Ethiopia signs $800 million mobile network deal with China’s ZTE (working on)

(Photo: Aaron Maasho)

(Reuters) – Ethiopia signed an $800 million deal with China’s ZTE (000063.SZ) on Sunday Aug. 18 to expand mobile phone infrastructure and introduce a high-speed 4G broadband network in the capital Addis Ababa and a 3G service throughout the rest of the country.

The agreement with ZTE, China’s second-largest telecoms equipment maker, is half of a $1.6 billion project split with Huawei Technologies Co Ltd HWT.UL, the world’s second largest telecom equipment maker. Huawei signed the agreement last month.

Both firms will provide low interest loans to Ethiopia through an arrangement known as vendor financing, Ethiopian officials and both firms said.

Andualem Admassie, acting chief executive officer of state-run Ethio Telecom, said the agreement would enable the Horn of Africa country to double subscribers to more than 50 million.

The government has ruled out liberalizing its telecoms sector saying the 6 billion birr ($321 million) it generates each year is being spent on railway projects. Ethiopia plans to build 5,000 km of railway lines by 2020.

Read more: http://www.reuters.com/article/2013/08/18/us-ethiopia-china-telecom-idUSBRE97H0AZ20130818

By Maadin Sahleselassie

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