Having Public-Centered Investment Mentality leads to Economic collapse

‘Having Public-Centered Investment Mentality  leads to Economic collapse’  Snr. Policy Researcher
Gov’t to redefine the role of the Pvt. Sector.   Planning Commissioner

The public sector alone  cannot afford continuous economic development in the country said  Telaye Kassahun,(PhD).  The government  rather should be limited to in regulatory and controlling activities, he added  during the 2nd  panel discussion organized by Addis Chamber of Commerce and Sectoral Association  16August, 2016 at Hilton hotel.

In Ethiopia,  the government takes the largest share of investment. That gives rise to the control of  development growth of the country , the Senior Researcher noted.  Huge investments are always made by the government in the country, the researcher added. On the other hand, the private sector now we have, he said,  is underdeveloped. Therefore, there is a great risk leading to a situation, where once the government losses interest to invest, the country’s economy may catastrophically collapse. The public investment currently heavily dependent  on  China, he noted. This again may cause a  foreseeable collapse on investment, if China changes its mind.  It is for these and others  reasons, that  the need for advancing the private investment mentality is important for sustained economic development, Telaye said.  Continued  corruption involving public offices is also posing challenge against the private sector

Eyob Tekalegn, National  Planning Commissioner of the FDRE, who was also a panelist in reference to the private sector and the GTP,   said that  the government looking for strong culture of  public-private cooperation. The government has separately designated the private sector as an engine to the national economy in an effort  towards industrialization, the  commissioner said. A series of consultations were made involving stakeholder over the performance of the GTP-2. The feedbacks show there are huge gaps in major economic performances such as export, macroeconomic instability and foreign debt.  Gaps accounted in the major economic performances over the last years under GTP -2 are calling for serious action. The importance of the private sector is not only for economic performance but also shouldering the burden of unemployment, Eyob said.

As was the reform in the  politics  was made, now the government is working  seriously on ways to  redefine the   role private sector  in the economic development process, the Commissioner added.

The Commission is now drafting a 10 year development planning where all stakeholder would participate including the private sector. To that end a new economic advisory team reporting  to the Prime Minister  has been set up to speed up the process.  Other thematic topics included   ‘Private Sector and the Current Ethiopian Economy Challenges: Private Sector and the Tax System’ by: Amin Abdella ‘Challenges Against  Export Performance’ by Million Bogale; “Tax System:  Challenges on  Privates Sector  and Possible Solution” by Tesfaye Mergia. Several intervention were forwarded  from the  audience coming from different walks of life and to which explanations were given by panelist.


Ethiopia & Czech Republic to Revitalize their Economic Potentials

The Current Trade Relation between the two Countries is not to the Satisfactory Level

Ethio-Czech Business Forum kicked off in Addis Ababa. A delegation of Czech companies led by H.E. Mr. Vladimír Bärtl, Deputy Minister of Industry and Trade of the Czech Republic visited Ethiopia for two days, aiming at establishing and/or enhancing bilateral ties between the private sectors of both countries in the respective field.

Czech businesspersons are interested to invest in various investment sectors in Ethiopia. This was disclosed by Mr. Ilja Mazanek, Chairman of foreign Section of the Czech Chamber of Commerce, at the Ethio-Czech Business forum that held at the Hilton Addis on May 15, 2018.

Representatives from the Czech and Ethiopian businesspersons took part in the business forum. The main objective of the forum jointly organized by the Addis Ababa Chamber of commerce and sectoral Association and the Czech Embassy in Ethiopia is to boost trade and investment ties between the two countries.

Speaking during the occasion, President of the Addis Ababa Chamber of Commerce and Sectoral Associations, Mr. Elias Geneti said Ethiopia and the Czech Republic should strengthen trade and investment in order to exploit the huge potentials in their countries.

He said business communities of both sides need to refresh their potentials and resources to make use of the opportunities laid out in this business forum as part of enhancing the trade and investment partnership.


Trade volume between the two countries during the period, 2012-2017, is worth around USD 118 million.  Although the trade balance significantly favors the Czech’s where its export to Ethiopia exceeds its import by USD of 100 million during the same periods, the trade relations still remains very low compared to the potential and our import and export trade experience with several other countries we have, He said.

According to Elias, the current trade and economic relations between the two countries are not to the satisfactory level.

Mr. Vladimír Bärtl, Deputy Minister of Industry and Trade of the Czech Republic said on his part increasing trade and investment based on the mutual benefits is essential.

The governments of both countries should create a conducive environment for investors and the amount of trade and investment between countries should be further boosted, the Deputy Minister added.

The two countries have close to a century old political and economic relations. However, one cannot find it to the expected magnitude.  However; it is a matter of fact that the two countries have been proceeding with cultural and social aspects for many years.

The relationship between Ethiopia and the Czech Republic is one of the oldest in the history. One of the most recognized and gratefully remembered by all Ethiopians is the support extended by the Czechs during the Fascist invasion of Ethiopia back in 1930’s.

Archives and documents reveal that a man from Czech arrived at the hinterland of Ethiopia, probably one of the earliest European to make his journey to Ethiopia. The Czech Missionary, Vaclav Remedius Prutky made a journey to Ethiopia during the first half of the eighteenth century to discover the source of the Blue Nile.

Following the formal diplomatic ties of the two countries in 1955, the then Czechoslovak government and its people did not hesitate to share their knowledge and expertise to their fellow Ethiopians.

The case in point was the construction of the first ammunition Factory in Addis Ababa, construction of Melka-Wakena dam, a textile factory in Kombolcha, brewery plants in Harar and Bedelle as well as the development of vineyards among others.

Chamber to Establish a Collaborative Engagement with AAU

Addis Ababa University and Addis Ababa Chamber of Commerce and Sectoral Associations are on the verge to establish a collaborative engagement to contribute to private sector development in Ethiopia.

Chamber distinguishes some modalities of engagement with the university at the initial phase. Organizing joint workshops (national and international) on thematic issues such as on trade policy, economic forums, etc, training, panel discussions, and seminars are some of the focuses of the partnership said Getachew Regassa, Secretary General of AACCSA.

According to the Secretary General Conducting surveys on selected research topics (as mutually agreed) as well as creating opportunities in linking researchers results of the University with the business companies and the private sector at large for effective implementation also the interventions included in the modality.

Ato Shibeshi Bettemariam on his part said    AACCSA and AAU will work for hand in hand to assist prospective graduates on ways and means of getting access to companies’ data for their thesis and graduation papers. Engaging in the capacity building of the chamber and sharing experiences on specific areas such as on value additive certification of the Addis Chamber Training Institute is also one area of cooperation, he added.

The two parties will sign MOU momentarily and prepare annual operation plans/implementation plans on the basis of the MOU.

On Air! : Addis Chamber to Start TV broadcast on Addis Television

Addis Ababa Chamber of Commerce and Sectoral Associations is going to commence its TV program called “Addis Chamber Television” on Addis Television. After reaching an agreement involving officials of the Chamber and Addis Television, the Chamber is said to start its program this month every Sunday from 10:00 AM -10:30 AM in the morning.

The Chamber’s TV program aims at advocating in favor of improved business and investment climate, building capacities of companies through providing information vital for building the sustainable business and enhancing their competitiveness, promoting the principles and practices of good corporate governance, promoting small businesses, and women and youth entrepreneurship, among others.

The chamber’s TV program will be on air for once in a week for 30 minutes. Addis Chamber TV contains four program formats; namely, the Ethiopia Business Report, CEO’s Forum, current Business affairs and Voice of the Private Sector.

Addis Chamber to organize Couple International Trade Fairs in May

Preparation has already been underway with the view to successfully accomplishing international fairs of Tourism and Travel as well as Agriculture and Food.

The couple International fairs in addition to serving to promote goods and services of participating companies will give way for networking, cross-sharing of experiences and good practices. Accordingly, local and foreign companies are already signing up, According to Abraham H/Mariam who is the Director of Trade and Investment Promotion Department said.

Abraham called on the local food processors, to take advantage of the 11th International Agriculture and Food Trade Fair, in order to introduce their products to the international markets and establish foreign buyers and partners.

In relation to the 6th Tourism and Travel International Trade Fair, as part of advancing national tourist business, Regional Tourism Bureaus are invited to promote their tourist attraction and potentials, the manager said. The twin events will be open 10-14 may, 2018, it was learned.

Addis Chamber to Stage Its 22nd Intl. Trade Fair

Italian and Kenyan Companies to make more presence

By Yidnekachew Alemayehu

Each year, the Addis Ababa Chamber of Commerce launches a series of four International Trade Fairs. The Fair is believed to take hundreds foreign and local companies on board in a weeklong business event. As it stands now, more than 150 companies have signed up to take part while many more are expected to come.

The event, among others, would serve a venue for business –to-business talks, concluding business partnership between the local private operators and foreign counterparts.

According to Abraham Haile Mariam, Trade and Investment Promotion Director at the Chamber, in this segment of trade fair almost all sectors of business are taking part  including  food processors , textile and garment manufacturers, engendering, agro processing companies, pharmaceutical and chemical firms.

It was learned countries like Sweden, UAE, China, India, South Africa, Kenya, Egypt and Italy are already confirmed to participate in the fair. Kenyan and Italian companies are likely to take the lead by sending over   20 and 50 companies respectively.

In order to ensure smooth running of the event, arguments with pertinent government authorities   have been put in place to avoid possible hassles and delays involving foreign companies to the event, Abraham Added.

As part of promoting young operators, the Chamber has allotted display spots free of charge small and middle interpreters.  Addis Chamber’s will also stage other three consecutive international fairs under Tourism and Travel, Agro-processing and Manufacturing in the months to come.

He indicated that the chamber has organized four international trade fairs for 2018 namely the Addis Chamber International Trade Fair (ACTIF), Agriculture and Food International Trade Fair (Agrifex), Tourism and Travel Fair and Manufacturing and Technology International Fair (MATEX).

Addis Chamber International Trade Fair is now regarded as the most popular international promotional event in the country with hundreds of participants from Ethiopia abroad. Abraham further noted that concurrent events like symposiums and business to business meeting would take place along with the trade fair.

The international trade fairs organized by the chamber so far are among the most notable business promotional activities that have added so much value for the business community in terms of promoting their products and services, establishing business linkages with trading partners and sharing experiences and knowhow with international and local companies.




Addis Chamber Accomplishes 13th General Assembly

Addis Ababa Chamber of Commerce and Sectoral Associations successfully accomplished its 13th general assembly. Addis Ababa City Administration House Speaker, H.E Dr. Tabor Gebremedhin, delivered the opening speech of the General Assembly. The event took place at Intercontinental Hotel, on October 5, 2017.

Following a unanimous endorsement of the agenda by the general assembly, President of the Addis Ababa Chamber of Commerce and Sectoral Associations, Ato Elias Gentie presented the report.

Both the report by Chamber president and the external audit report were endorsed by the general assembly. External auditor for the coming year has also been selected and accordingly endorsed by the general assembly.

Addis Chamber members on the day raised many issues and forwarded various ideas to which response were given. One thousand two hundred and twenty nine attended the general assembly.


AACCSA and TDB Organized an Awareness Workshop

The Addis Ababa Chamber of Commerce & Sectoral Association (AACCSA) in collaboration with The Eastern and Southern African Trade and Development Bank, (formerly known as PTA Bank) conducted a Workshop on “Trade & Development Finance for Sustainable Growth” at the Capital Hotel, Addis Ababa, on September 29, 2017 Ethiopia.

The purpose of the Workshop was to support of local manufacturing and corporate business integration to the COMESA market by creating awareness of TDB’s product offerings and services in Ethiopia and the region.

AACCSA is also hosting a project to establish COMESA Market Information Center with the financial supports of European Union Regional Integration Support Mechanism (RISM). The project aims to strength the provision of manufacturing advisory service by bridging the gap when it comes to regional market information and advice to local companies and foreign investors on how to develop trade under COMESA market.

Provision of access to finance information is one of the intervention areas of the center. According to Secretary General of the Chamber, Mr. Getachew Regassa, access to finance and availability of its information are critically relevant to business operators in the country. Providing information on access to finance is a worthwhile intervention to be undertaken by Addis Chamber to serve its members, he added. He believes that creation of awareness about financial sources and products in Ethiopia should be one of the areas the chamber needs to engage in.

TDB’s upcoming support to corporate businesses in Ethiopia is really relevant and timely, according to TDB president, Mr.Admassu Tadesse. Taking into consideration the product offerings, the TDB will help support the government and the economy in designing new initiatives to better serve the financial needs of the business community, he added. According to the president these interventions by the TDB will also complement the positive results achieved by ongoing operations of the formal banking system and equity funds.

A good number of companies from Ethiopia have participated in the event. According to reports without access to sufficient finance, firms may not realize their full growth potential. However, there are still works to be done to get various sources of finance and to build inclusive financial systems.

Although Ethiopia has not yet joined the COMESA FTA, it is a member of COMESA and has helped to establish and develop COMESA. COMESA was established with the broader objective of enhancing development among member states, and not just trade liberalization. In general, trade among Ethiopia and COMESA member states has increased, with new trade avenues opening and strong potential for further growth.

Trade and Development Bank (TDB) also known as the Eastern and Southern African Trade and Development Bank, (formerly called PTA Bank), is an African regional development financial institution established in 1985. The Bank’s mandate is to finance and foster trade, socio-economic development and regional economic integration through trade finance, project and infrastructure finance, funds management and business advisory services.



Addis Chamber Launches Four Major Trade Fairs for 2018

Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) launched four major trade fairs it undertakes for the year 2018. This is part of Chamber tasks in undertaking promotional events to promote trade and investment in Ethiopia, it was indicated on the occasion. The launching ceremony took place at Hilton Addis on September 21, 2017.

Secretary General of AACCSA, Ato Getachew Regassa, delivered the opening speech of the launch, which was attended by Ambassadors, commercial councillors and other senior officials of embassies in Addis Ababa, government officials, local business community members and other invited guests.

AACCSA Secretary General said that the Chamber works to improve its services for exhibitors and went on to illustrate the point. Putting in place a system for exhibitors to get visas without extra charges; providing lists of credible clearing agents; and making available list of hotels suited to exhibitors and organizers are some instances the Chamber has been working on recently.

On the occasion embassy officials expressed their appreciation of Addis Chamber’s efforts and underlined the need to work more to enhance the intra-Africa trade and realize continental integration. They reiterated that Africa needs to benefit from the enormous potential it has and effect its poverty eradication targets.


Czech Business Delegation Visits Ethiopia

A Czech business delegation conferred with some Ethiopian business community members in a business to business session organized by Addis Ababa Chamber of Commerce and Sectoral Associations in cooperation with the Czech Embassy in Ethiopia. The event took place at Elilly Hotel on September 18, 2017.

The Czech Embassy under its ‘Aid-for-Trade’ project made financial grant to Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) in January 2016. In mid-July of the same year a Memorandum of Understanding was signed by presidents of AACCSA and Czech Chamber of Commerce and Industry, AACCSA Deputy Secretary, Ato Shibeshi Bettemariam, indicated in his welcoming remark at the event.

AACCSA will continue to organize this kind of event in the future with Czech and other trade facilitation eagencies across the globe, AACCSA Deputy Secretary, Ato Shibeshi Bettemariam, indicated while the Czech speaker underlined that Ethiopia is a priority country in Czech Development Coopertion for the years 2010 to 2017 and there are regular consultations with the Ministry of Foreign Affairs.