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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.
Ethiopia's economy experienced strong, broad-based growth averaging 9.4% a year from 2010/11 to 2019/20. Ethiopia's real gross domestic product (GDP) growth slowed down to 6.1% in 2019/20 due to the COVID-19 pandemic. [80] Industry, mainly construction, and services accounted for most of the growth.
Dʿmt (Unvocalized Ge'ez: ደዐመተ, DʿMT theoretically vocalized as ዳዓማት, *Daʿamat [3] or ዳዕማት, *Daʿəmat [4]) was a kingdom located in present-day Eritrea and northern Ethiopia. It was created in the 8th century BC, but the end date is not known, although the 6th century BC is one hypothesis. [1]
The Ministry of Trade and Industry was established in August 1995 with the Proclamation No.4/1995 for assignation of powers to the executive organs of the Federal Democratic Republic of Ethiopia. It was reorganized by with proclamation No 619/2003 to amend the Proclamation No 256/2001 structure, with the ministry has power to oversee five ...
In December, Ethiopia became the third African nation to default in as many years after it failed to make a coupon payment on its $1 billion Eurobond. Ethiopia's economy is reeling from high ...
Though the country is rich in mining resources its exploration and extraction has contributed only about 1% of its GDP with an investment of 14 billion birr. [8] To give a boost to the five-year Growth and Transformation Plan (GTP) for the mining sector launched by the government, incentives are proposed to be offered in terms of tax reduction ...
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The latter is Ethiopia's first industrial steel production plant and is intended to meet a major increase in domestic demand, estimated to rise from 1.2m tonnes to 3.1m tonnes per annum between 2011 and 2014. [14] In August 2008, MIDROC opened a small cement factory on the outskirts of the town, which produces 4,000 quintals of cement per day.