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METEC (acronym for Metals and Engineering Corporation) is an Ethiopian arms and machinery industry founded in 2010. [2] It is the state largest military industrial complex, responsible for the production of military equipment and civilian products. METEC works with foreign companies such as Alstom from France, and Spire Corporation from America ...
A Government-owned corporation is a legal entity that undertakes commercial activities on behalf of an owner government. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms can be used interchangeably.
It is fully owned by the Ethiopian government. Its programming includes news, sport, music and other entertainment. The majority of the programming is broadcast in Amharic, official languages of Ethiopia. [5] Some news segments are broadcast in other languages, such as Oromo, Somali, Tigrinya, Afar, and English. [6]
In 1975 the Derg nationalized more than 100 industries and took partial control of some of them. The main characteristics of the manufacturing sector inherited by the revolution included: a predominance of foreign ownership and foreign managerial, professional, and technical staffing; great emphasis on light industries; inward orientation and relatively high tariffs; capital-intensiveness ...
Ethiopian Electric Power (Amharic: የኢትዮጵያ ኤሌክትሪክ ኃይል) is an Ethiopian electrical power industry and state-owned electric producer. It is engaged in development , investment , construction , operation , and management of power plants , power generation and power transmission .
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Licenses have been issued to 250 foreign firms from countries such as China, South Africa, the UK, the US and Canada. The license stipulates that every mining company should allocate 5% free equity shares apart from 8% royalties and 35% income tax. [1] The initial validity of the lease is for 25 years extendable for further ten-year period. [7]
Between 1950 and 1960, the imperial government of Ethiopia enacted legislation and implemented a new policy to encourage foreign investment in the Ethiopian economy.This new policy provided investor benefits in the form of tax exemptions, remittances of foreign exchange, import and export duty relief, tax exemptions on dividends, and the provision of financing through the Ethiopian Investment ...