Oromia Investment Comm'n Leases 38,000hct for Tourist City

The Oromia Investment Commission (OIC)  leased 38,000hct to the Dubai-based Injaz Plc to construct a modern tourist city overlooking Shala and Abyiata lakes  200Km south of Addis Abeba at a project cost of 13 billion Br. The tourist city is projected to include high-tech housing infrastructures that would embrace high, middle and low income clients by providing services like markets, a gymnasium, sport centres, an airport, hospital as well as guest houses, according to Alemu Sime, commissioner of OIC. This mega project would create employment opportunities for 20,000 people, out of which 12,000 would be employed on a permanent basis, the Commissioner confirmed.

Microbiology Testing Lab Gains South African Accreditation
 

The Quality and Standards Authority of Ethiopia's (QSAE) Microbiology Testing Laboratory has been honoured with accreditation from the South African National Accreditation Service (SANAS). According to Mesay Girma, director general of QSAE, an accreditation of this stature from an internationally reputed entity would enable the testing results of the local laboratory to gain international recognition. The accreditation extended by SANAS would create suitable opportunity for Ethiopian products such as fish, beef, bottled water as well as beverages to be more competitive on the international market, Tadesse Haile, state minister of Trade and Industry, stated.

Country Earns $90m from Flower Exports in Six Months
 

In space of six months, the country earned 90 million dollars from exporting flowers to international markets. Countries in Central Europe, Japan, Russia, Saudi Arabia, Norway and Finland have been the sources of the subsequent hard currency, Tsegaye Abebe, chairman of the Ethiopian Horticulture Producers and Exporters Association, said. During the next three months before the end of 2007, over 35 million dollars is expected to be earned from exports of flowers, Tsegaye stressed, claiming the tax holiday incentive for the exporters and producers of the flower has enhanced the efficiency with which the sector grew.

ALFOZ Earns $23m from Coffee Exports

The newly established coffee processing and exporting company, ALFOZ earned 23 million dollars last fiscal year from 10,200tn of dry and washed coffee exports. The new factory owned by Ali Hussein Mohammed has recently inaugurated a coffee processing and packing plant constructed at a cost of 15 million Br. According to Ali, the plant has the capacity to produce 4,000 metric tonnes of roasted and ground coffee for the international market. ALFOZ has employed 1,500 workers, company sources confirmed.

Credit Ass'n Inaugurates 15m Br Commercial Building in Mekelle

The Debit Credit and Saving Share Association inaugurated its new five-storey commercial building constructed in Mekelle town at a cost of 15 million Br. In addition to the credit services that the Association provides to the farmers, it desires to benefit other members of the community at various income levels through forming a development bank in the near future, Teklewoyen Assefa, board chairman of the Association confirmed. According to Ataklty Kiros, manager of the Association, over 450,000 credit recipients have been beneficiaries of the services. The Association was established 13 years ago with very limited capacity and has grown to provide credit for more than one million people and will begin money transfer services throughout the country, Ataklty disclosed.

930m Br Nile Basin Irrigation Project Commences

An irrigation development project along the Nile Basin has kicked off at a cost of 930 million Br. The development project that targets the arable land in the area of Nile Basin is part of the mainstream effort to speed up the economic growth, Adugna Jabessa, state minister of Water Resources, asserted. According to the Adugna, the detail of designing studies of the project on the Nile Basins such as Lake Tana as well as the sub-basins of Beles, Dedessa and Angger have been conducted and arrangements to implement the findings are underway. The implementation of this project would include the Ethio-Nile irrigation and drainage project planned to be developed on 20,000hct with a loan secured from the World Bank, Hayalsew Yilma, project coordinator at the Ministry of Water Resources, asserted.

Amhara Credit Institute Benefits Over 50,000

More than 50,466 inhabitants in North Shoa Zone became beneficiaries of 101 million Br credit services from the Amhara Credit and Savings Institute over the past eight months. Nearly 157 youth in this Zone benefited in income-generating schemes and the deposits by members of the community to the Institute reached over 65.8 million Br, Getachew Yimer, branch office manager, told Walta Information Centre. The Institute has distributed 400 million Br over the past 10 years.

VSO Brings 50 New Volunteers

The Voluntary Service Overseas (VSO) brought 50 new volunteers of various professional backgrounds from countries including Canada, Kenya, the Netherlands, the Philippines, Uganda and the United Kingdom (UK) to give their professional services for government and non-government offices in seven regions of Ethiopia. According to the press release, most of the volunteers provide their professional services in the education sector ranging from cluster training in teacher training colleges, management advising at the universities as well as assisting in the field of information technology at the higher learning institutes.

Norway Establishes 140m Br Develop't Fund
 

Three regions are to benefit from a development project worth 140 million Br from the Development Fund (DF) of the Norwegian government. According to Bjorn Stave, country representative of DF in Ethiopia, the fund will be utilised for rural agricultural development in Tigray, Afar and Somali regional states. The fund targets Irrigation projects, dairy production, livestock development, environmental conservation engagement, training women on income generating activities as well as food security and agriculture programmes, Mr. Stave confirmed.