Sunday With EBS: Entertaining Competition Easter Special Program
On the margins of the Belt and Road Forum (BRF), the Ethiopian Investment Commission (EIC) has signed memoranda of understanding (MoUs) with four Chinese companies that have decided to invest in Ethiopia.
The MoUs were signed with Taison Group and Green Diamond, Amity Printing, CGCOC Group and Zhende Medical Products Manufacturing, according to office of the Prime Minister.
According to agreement, Taison Group and Green Diamond will establish a large-scale bamboo pulp-paper manufacturing in Assosa, Benishangul Gumuz regional state with a capacity to manufacture 1 million tons pulp paper per annum.
Amity Printing will set up a printing factory in Ethiopia, CGCOC Group establish a fully integrated livestock and meat processing plant with an annual slaughtering capacity of 300,000 cattle and 3 million sheep in Awash, Fentale.
Zhende Medical Products Manufacturing agreed to invest in a pharmaceutical plant in Kilinto Industrial Park to manufacture wound care, surgical sensory, pressure therapy and fixed products, the office indicated.
A policy drafted to address the challenges in the mining and petroleum sectors will come into effect in July this year.
Dr Samuel Urkato, Minister of Mines and Petroleum told journalists yesterday that the policy is meant to modernize the mining sector, boost its contribution to the economy, create more jobs and encourage investment.
The Council of Minerals Affairs of Ethiopia recently held consultation with stakeholders to enrich the 20-year drafted policy.
During the discussion, it was indicated that the contribution of the mining sector to the country’s economy is negligible because of lack of awareness and value addition as well as low investment in the sector.