Day: April 8, 2024

Addis Ababa: More than 60 local companies are operating in various investment sectors at Industrial Parks, according to Industrial Parks Development Corporation (IPDC).

Investment Promotion and Marketing sector Deputy CEO at IPDC Zemen Junedin said the participation of local companies in industrial parks has been increasing.

He added that the local companies has exceeded 60, he said, adding the companies have completed pre-investment activities and some have started operations.

The priority the government has given to the homegrown economy over the last four years has been instrumental to the growth of local companies’ participation in industrial parks during the last one year, he said.

According to him, the incentives being provided for local investors including income tax relief, imports of duty-free machines and vehicles that can help for production have played a crucial role for the increase of the companies in industrial parks.

Modernization of the corporation’s service delivery with technology and
a system put in place to allow investors to launch operation fast have also contributed for the increase of local companies in industrial parks..

Stating that those local companies are working on priority areas of agro-processing, manufacturing and pharmaceutical sectors, he said strong market linkage is being created for them.

The companies have created jobs for citizens especially for women, he said.

Moreover, he said industrial parks are producing young people who can easily master technology know-how, in addition to the production process and technology transfer, he further pointed out.

Jobs are created to over 100,000 citizens at 12 industrial parks and Dire Dawa Free Trade Zone, according to the Industrial Parks Development Corporation (IPDC).

Source: Ethiopian News Agency

Addis Ababa: The government is increasingly seeking to broaden startup ecosystems and encourage innovation in Ethiopia, State Minister of Finance Eyob Tekalign said.

“Startup Ethiopia Exhibition” was launched today at the Science Museum in the presence of high-level government officials including Labor and Skill Minister Muferihat Kamil, Minister of Industry Melaku Alebel, Innovation and Technology Minister Belete Mola and others.

The exhibition will be open to the public starting from 8th April 2024, and will end after 21 days, it was indicated.

Currently, Ethiopia’s startup has been witnessing pivotal legal and policy reforms, heralding a new era for the country’s startups and entrepreneurs.

Speaking at the opening ceremony of the exhibition, Finance State Minister Eyob underscored that the nation has prioritized startup innovation to make Ethiopia a country of entrepreneurs.

According to Eyob, Ethiopia has tremendously skilled youth in science and technology as well as mathematics and engineering who
can solve problems and create wealth.

In this respect, the state minister noted that the government of Ethiopia has paid special attention to create a favorable environment for startups that would support these innovative young people.

He also explained that the exhibition aimed at encouraging young Ethiopians with new technological ideas to share their experiences with others.

The exhibition has also played a paramount role in promoting Ethiopian startup ecosystem and cultivating the innovative ideas of these youth, Eyob revealed.

He also stressed the need for empowering entrepreneurs in startups and supporting them in terms of policy as well as finance to succeed.

In the exhibition, the entrepreneurs have been presenting their ideas and displaying products that could solve problems and bring about results in agriculture, health, education, energy, industry, finance and other sectors, Eyob indicated.

The state minister further stated that the government is carrying out various activities including fac
ilitating access to funds to expand the startup ecosystem.

Eyob also called on investors to do their part by supporting these startup initiatives in Ethiopia.

Ethiopia has made reforms over the past five years, designed to cultivate an environment conducive to youth entrepreneurship and innovation, it was indicated.

The ‘Startup Ethiopia Forum” was held in the presence of Prime Minister Abiy Ahmed at Adwa Victory Memorial Museum on 4th April 2024, it was indicated.

In a recent post on X, Prime Minister Abiy Ahmed stated: ‘Startup Ethiopia aims to cultivate an environment conducive to youth entrepreneurship, fostering innovative problem-solving businesses. Recognizing the youth as the nation’s engine brimming with innovative ideas, policy support for the ecosystem is vital to translate these ideas into reality.’

‘Startup Ethiopia Exhibition’, a national event hosting over 900 participating startups, commenced at the Science Museum in Addis Ababa this morning, it was learned.

Source: Ethiopian News Age
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Addis Ababa: Ethiopia and the Netherlands have agreed to consolidate their trade and investment relations, according to the Ministry of Foreign Affairs.

Foreign Minister Taye Atske Selassie held a discussion today with Foreign Minister of the Netherlands, Hanke Bruins Slot to strengthen the two countries’ bilateral relations and cooperation.

During the discussion FM Taye expressed his appreciation to his Netherlands’ counterpart, the relationship that existed for a century between the two countries.

The foreign minister also underlined the exemplary collaboration in the areas of trade, investment, development and cooperation.

Furthermore, Taye stated that Ethiopia is ready to enhance the existing cooperation to wider areas of partnership.

On her part, the Foreign Minister of the Netherlands, Hanke Bruins Slot stated that her country wants to strengthen and continue the historic bilateral cooperation with Ethiopia.

The Minister pointed out that more than 100 Dutch companies are investing in Ethiopia and
expressed the desire of her country to engage more in trade and investment.

Moreover, the two ministers exchanged views on how to work together on regional and global issues.

Source: Ethiopian News Agency