Category: Trade

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Ethiopia Attracts $700 Million Foreign Direct Investment in First Quarter

Nation attracted 700 Million Foreign Direct Investments (FDI) during the first quarter of the on-going fiscal year, according Ethiopian Investment Commission report.

In its report to the House of Peoples’ Representatives Trade and Industry Standing Committee, the Commission said the country has achieved 70 percent of the plan which was projected to bring over a billion U.S. dollar investments during the stated period.

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Choke point: Vietnam skilled labor squeezed by Sino-U.S. trade war

A new front has opened in the U.S.-China trade war as companies shifting manufacturing to Vietnam engage in a fierce battle for skilled labor, aggravating an existing shortage and prompting calls for education reforms to address the problem.

Vietnam has emerged as one of the largest beneficiaries of the trade spat between Washington and Beijing.

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Chinese investors assess new Ethiopia industrial park

The creation of industrial parks, like this one at Bole Lemi, is part of the Ethiopian government’s vision to transform the country into a world-leading apparel and textile hub Chinese industrialists from Kunshan city, a major clothing manufacturing centre in southeastern Jiangsu province, are eyeing potential investments in Ethiopia’s Dire Dawa Industrial Park, China’s ambassador to Ethiopia has told just-style.

Tan Jian says a delegation from Kunshan city, led by its mayor Du Xiaogang, visited Ethiopia last month to probe investment and manufacturing opportunities at the hub, which is still under construction.

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Huajian takes over Jimma Industry Park

The Chinese shoemaker Huajian Group has taken over the management and operational activities of the USD 61 million Jimma Industry Park.

During the signing of the Memorandum of Understanding (MoU) , between the Huajian Group and the Industrial Parks Development Corporation (IDPC), Girma Amente (PhD) vice president of the Oromia Regional State told reporters that a relatively well-established Huajian in Ethiopia is likely to succeed in its acquisition of Jimma Industrial Park’s undeveloped part that encompasses a plot of some 40 hectares.

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Ethiopian Train Derailment Results in Over 200 million Birr in Damage

An Ethio-Djibouti Railway cargo train that derailed three weeks ago in East Shewa Zone of the Oromia Regional State caused an estimated 200 million Br to 300 million Br in damage.

A 53-wagon cargo train of the Ethio-Djibouti Railway derailed on April 4, 2019, some 15Km from the town of Metehara, while travelling from Addis Abeba to Djibouti. The derailment of the cargo train and damage sustained by the tracks has completely suspended all railway transportation between the Port of Djibouti and the capital.

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Modjo Dry Port Cuts Tariffs on Exports by 70 Percent

The state monopoly shipping giant, Ethiopian Shipping & Logistics Services Enterprise, will implement tariff cuts of between 50 pct and 70 pct within a month on products exported through Modjo Dry Port.

The tariff reduction will apply to all the services the port provides including cleaning the containers, containerizing the goods, transportation and loading and unloading costs. The 50 pct to 70 pct discount for exports are in relation to what the Enterprise normally charges for imports.

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