ADDIS ABABA – Ethiopia has allowed Corbetti and Tulu Moye companies to develop a 300MW Geothermal Power as Public Private Partnership.
This was disclosed when power purchase agreement signed with CORBETTI was approved here yesterday by the Council of Ministers. The council had also endorsed draft digital transformation strategy and Ethiopia’s second commercial code. The Council passed the decision in virtual meeting , as to Prime Minister Office. At the event ,Prime Minister Abiy Ahmed said the conclusion of the Power Purchase Agreement with CORBETTI came to an end having wasted many years to come up with effective legislation such as PPP, Geothermal and Energy Proclamations to support foreign direct investment and private sector participation for investment and technology transfer in Ethiopia.
The Geothermal sector and skills in Ethiopia are critical to tap green, clean and renewable energy source to increase energy capacity, security and reliability of Ethiopia, he noted.
Geothermal provides great baseline constant output power to support our industrialization and continued economic growth, according to the premier.
On Ethiopia’s Digital Transformation Strategy, it is a centerpiece of government’s effort to drive inclusive growth through innovations and digitalization, he wrote in his official facebook page.
It will improve interconnectivity of kebele’s to woreda’s, develop digital knowledge, provide support to the tourism sector, and empower the technology sector as a whole, it was learnt.
Moreover, it will support ongoing reform efforts on ease of doing business by increasing the capacity of the public sector to provide digital services that will enable faster growth of the digital economy in our country and modernize the way of doing business across the public and private sector, the Prime Minister added.
The adoption of a draft Commercial Code, half a century after the adoption of the existing Commercial Code is a significant milestone in our endeavor to modernize and reform country’s legal system, he noted.
The prime Minister further underscored that the new Commercial Code is geared towards spurring innovation and enterprise which are essential in our aspiration to build a prosperous society.
The Ethiopian Herald June 16, 2020
BY STAFF REPORTER
