ADDIS ABABA – Prime Minster Abiy Ahmed invited South Korean investors to advance investment efforts in Ethiopia in various ranges of investment areas.
Speaking at Ethiopia – South Korea Business Forum while on an official visit to South Korea, he noted Ethiopia is striving to ensure conducive investment platform, as efforts are underway to revise policies and laws in a bid to augment foreign direct investment.
He said, “A number of South Korean investors engaged in range of investment areas in Ethiopia are productive, and if new ones also join to invest, they could benefit.” Ambassador Yeon-ho Choi, President of the Korea-Africa Foundation, for his part said that the investment break in Ethiopia is favorable and provides great opportunity to South Korean investors.
He indicated that South Koreans see Ethiopia as one of the best investment destination out there, and wants to expand their market share in the country’s economy. Prime Minister Abiy Ahmed also met Hyundai CEO Lee Won-Hee to discuss the potential expansion of investments in Ethiopia.
He also met with steel making giant POSCO and explored the possibility of setting up steel works in Ethiopia to meet the current domestic demand in construction, as well as create jobs.
Furthermore, PM Abiy met with the President of the Korea International Cooperation Agency (KOIKA) to discuss on ways to further strengthen their support to Ethiopia. He took the chance to express his appreciation to KOIKA for the development work they have undertaken in Ethiopia in education, water and agriculture.
The Ethiopian Herald, August 28/2019
BY MENGISTEAB TESHOME
