ADDIS ABABA – Ethiopia and Austria have aspired to see improved economic cooperation as an Austrian business delegation has expressed interest in investing in Ethiopia.
During a joint press briefing with Austrian Embassy yesterday, the Ethiopian Investment Commission Deputy Commissioner Zeleke Temesgen (PhD) stated that Austrian companies with experience in various countries will participate in a business forum scheduled for today.
“The forum, similar to previous ones hosted by Ethiopia with other countries’ embassies, will serve as a platform for investors to explore opportunities in Ethiopia,” he explained. Diplomatically, Ethiopia and Austria have had official relations for 60- 70 years, but there is a need to strengthen economic cooperation,” Zeleke noted.
He added that Austrian businesses are exploring opportunities in the pharmaceutical and plastic recycling sectors.
The Ethiopian government is committed to supporting investors, particularly those interested in untapped industries like pharmaceuticals, he said.
Ethiopia has been receiving more foreign direct investment (FDI) than in previous years as the government continues to reform the economy and improve industrial park management. For example, three industrial parks are upgraded to special economic zones last week, according to Zeleke.
He highlighted that these reforms will continue to attract more FDI and invited Austrian investors to explore these initiatives and opportunities.
Austrian Ambassador to Ethiopia, Simone Knapp, remarked that the forum would bring together Austrian and Ethiopian companies.
Seven Austrian businesses involved in the plastic recycling, pharmaceutical, and construction sectors will participate in the bilateral forum, with a keen interest in expanding their operations into Ethiopia, the ambassador added.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD TUESDAY 22 OCTOBER 2024
