On the side lines of the 7th Tokyo International Conference on Africa’s Development (TICAD 7), Ethiopian delegation had held a meeting with Japanese counterparts. Speaking in the meeting Prime Minister Abiy Ahmed assured has invited Japanese businesses to reap benefits from the rich opportunities.
For example, he indicated that they can invest in tourism, agriculture, ICT and mining sectors. Foreign Affairs Minister Gedu Andargachew also assured the Japanese side that Ethiopia is full of opportunities for Japanese investors more than ever.
Indeed Ethiopia has demonstrated that it is one of the best destinations of Foreign Direct Investment (FDI) in the world as it has ranked on the top position for attracting a huge sum of FDI. It is open for all businesses from all corners of the world interested to invest in here. But comparatively speaking Japanese business can consider it as their special and favorable destination for many reasons.
With its rapid and growth and development in science, technology, economy …etc, Japan has been a major source of inspiration for Ethiopians. Many Ethiopians attribute it as a model for quick learning, innovation and hard work. Therefore, one can guess the possible moral and motivation of Ethiopia’s large number of trained and trainable work force to work and succeed with Japanese businesses.
Agriculture is the main stay of many Ethiopians and the largest source of revenue for the country. It has also been following economic development strategy that focuses on modernizing agriculture sector that can lead to transition to manufacturing industry.
By developing a large number of manufacturing industrial parks, Ethiopia is making itself a hub of manufacturing industries in Africa. This is a big opportunity for Japanese businesses that are well versed and tested in the field of manufacturing. Japanese management philosophy called Kaizen has also won reputation in Ethiopia. Many Ethiopian are also aware and enthusiastic about the philosophy.
Tourism is also the other option for Japanese businesses to invest in. Ethiopia is becoming a highly preferred destination in Africa. The sector needs investment by experienced companies like that of Japanese. These are few of the sectors where Japanese businesses can succeed and help Ethiopia realize its economic development goals.
With the ongoing economic reform in the country, Ethiopia is likely to become more attractive and favorable investment destination for Japanese companies. On the other hand Ethiopia is also rich in its affordable and trainable work force that has the capacity to fill the human resource gap in Japan. More Japanese businesses coming to Ethiopia would further raise the awareness of Ethiopian youth in the working atmosphere culture and standard in Japan. Hence , people, businesses and government of the two sides should work visualizing the bright future in the Ethio-Japanese trade and investment ties.
The Ethiopian Herald, August 31/2019
