ADDIS ABABA – Government highly encourages investors from the BRICS nations to seize the enormous investment opportunities available in Ethiopia, Prime Minister Abiy Ahmed (PhD) said.
Speaking at the BRICS Business Forum, Prime Minister Abiy Ahmed (PhD) yesterday said that the BRICS is well positioned to make a substantial global economic growth and sustainable development.
“To fully realize this potential, we must actively work to ensure that global governance structures that are more representative, inclusive and responsive to the needs of the developing and emerging economies.”
Today’s international financial architecture does not fully align with the aspiration of emerging economies. “We advocate for the comprehensive reform of the global financial system to establish a more equitable framework. BRICS itself should set an example by expanding mutually beneficiary economic cooperation within member countries.
According to him, BRICS can serve as a standard for reformed global financial system that not only address the needs of its members, but also supports the development objectives of other emerging or developing economies.
Ethiopia’s rapidly expanding economy presents significant opportunities for investment, economic cooperation and trade particularly, for the BRICS nations. Ethiopia is endowed with abundant natural and agricultural resources offering access to large and diverse markets across Africa and beyond.
This advantage is further strengthened by the Ethiopian Airlines, the largest in Africa and a leader in an international cargo and passenger transport. Furthermore, country’s affordable and increasingly renewable energy infrastructure coupled with a young skilled and trainable workforce positions Ethiopia as an attractive destination for investment.
In recent years, the country has implemented bold economic reforms aimed at making its economy even more business friendly. The measures include the liberalization of key sectors such as telecommunication and finance. The country also adopted market-based foreign exchange regime creating more conducive environment for Foreign Direct Investment (FDI).
These changes are designed to enhance the country’s competitiveness in the global market and to offer significant returns for investors. “We strongly encourage investors from the BRICS countries to seize the opportunities available in Ethiopia, particularly, in sectors such as manufacturing, agriculture, energy, mining, ICT and tourism. These sectors hold enormous potential for growth and innovation. BRICS countries can benefit by investing in these areas brings form Ethiopia’s strategy positions as gateway to the African continent while contributing to the block’s shared development objectiveሰ.
BY STAFF REPORTER
THE ETHIOPIAN HERALD SATURDAY 19 OCTOBER 2024
