Chinese Maxtor International Financial Services inked a memorandum of understanding with Ethiopia’s Amhara Regional State to build a Special Economic Zone in Bahr Dar city. The company’s officials stated that Maxtor chose its investment in Ethiopia after conducting comprehensive business and economic feasibility studies among various African countries.
During the signing ceremony it was announced that the new project was unique for being the first of its kind to have come to Ethiopia. It was also noted that the new project is expected to lie by the side of Lake Tana, Africa’s second largest lake. Similarly, the project requires at least 10 hectares of land but the regional administration has not yet allocated the requested land.
The project focuses on tourism business, and it is expected to attract up to 20,000 tourists to Ethiopia upon completion. The project will also undertake the purchasing of planes as well as vehicles exclusively to ferry tourists to and from the area.
The project, which is expected to have unique design, will first secure land to construct its office facilities while the main investment land deed will be considered by the regional administration in due course, according to the company’s officials.
1240 Views Comments
Louvres Hotel Group, number one hotel group in East Africa, signed its 3rd hotel in Ethiopia, pursuing the expansion of an ambitious network covering sub-Saharan
2840 Views Comments
Safaricom has denied reports of the company entering into the Ethiopian market. The Kenyan telco had been said to be gearing up for its first venture
1308 Views Comments
Flying even more greener; Ethiopian Airlines Group, the largest airline in Africa, is pleased to announce that it has fully digitalized all its business processes