Chinese Company to Explore Groundwater

The Addis Abeba Water and Sewerage Authority signed an agreement worth 95 million dollars with CGC Overseas Construction Ethiopia Ltd, a Chinese construction firm, for the exploration and distribution of groundwater. The project is to last 24 months, and intends to excavate around 24 underground water wells which are expected to produce 70,000 cubic metres of water. The project is aimed at supplying water to villages of Hana Maryam, Lafto, Jomo, Ayer Tena and Alem Bank. The project’s finance is secured from the Export and Import Bank of China. 

Somali Council Doubles Budget

In Jijiga, the Somali State Council has endorsed a 4.4 billion Br budget for the next Ethiopian fiscal year. The council endorsed the budget in a two-day ordinary session held in Jijiga Town. The amount of budget the council endorsed for the next fiscal year is greater than that of the just ended fiscal year by over 1.9 billion Br.

Aviation Authority Earns 80m Br

The Ethiopian Civil Aviation Authority declared that it has earned 80 million Br in revenues in the just ended fiscal year, surpassing that of last year by over 19pc. The revenue was derived mainly from air traffic control and domestic air navigation services. The authority has signed several bilateral air transport agreements with various countries and has plans to earn 81 million Br in the coming budget year, said director general, Colonel Wosenyeleh Hunegnaw(Col). The authority has also announced its plans to increase domestic and international destinations to 18 and 63 destinations from 16 and 58, respectively.

Gedeo Zone Receives Investment Boost

Some 24 investors with over 259 million Br in combined capital are undertaking various projects in Gedeo Zone, Southern Regional State. They are engaged in real estate development, agriculture, coffee pulping and flour mill, among others. The projects are expected to create permanent and temporary jobs for nearly 3,000 individuals. Investors have engaged in various activities in the zone with over one billion Br in capital since 1993, creating jobs for over 14,000 individuals.

Gonder Tourism on Rise

About 61 million Br was acquired from over 100,000 tourists who visited historical sites in Gonder Town, 756Km north-west of Addis Abeba, in the just ended fiscal year. The revenue exceed that of last year’s by over 16 million Br. Emperor Fasiledes’s castles and the Debre Berhan Sellassie Church were the most visited sites by tourists the town’s culture, tourism and social affairs department said. Activities to promote historical, religious and cultural heritages contributed to the growth of tourists from 85,000 in the previous year.

Somali Region Dairy Exports Increasing

Over 158 million Br in revenue was secured from live animals and milk exports through the Somali Regional State, the amount surpasses that of last year's by over 47 million Br,  the state animal, crop and rural development bureau said. The number of live animals and the amount of milk exported during the reported period increased by 3,600 and 267,000 litres, respectively, as compared to the previous year.

Investment Agency Doubles Target

The Ethiopian Investment Agency (EIA) has licensed investment projects worth 124.4 billion Br in capital, exceeding its plan of 59 billion Br. The agency has also surpassed that of last year's by 69 billion Br.  The agency gave permits to 961 foreign investment projects registering 53.1 billion Br, which accounts for 72pc of the total number of investment projects and 43pc of the capital. The agency has also cancelled 1,526 investment licences for failure to start the projects.  Asian countries are the leading investors in the country while investment from Europe is mainly limited to the Ethiopian Diaspora; Sudan is the leading investor from African countries according to the director,.

Dire Dawa Grants Licences to Investors

The licensing of 211 investment projects worth over 738.8 million Br was done during the just-ended fiscal year, the Trade and Industry Bureau of the Dire Dawa Administration announced. Projects include forays into agriculture, food processing, construction, manufacturing, and real estate. The number of licensed projects surpassed the targeted goal of 200. Upon fully going operational, the projects will create jobs for over 10,600 people.