ADDIS ABABA – Huajian International Light Industry City Special Economic Zone has commended Ethiopia’s investment policy reform, which fosters a favorable investment climate, attracting international and domestic investors.
The Ministry of Transport and Logistics has organized the Ethio Green Mobility 2024 Exhibition and Symposium, taking place for over a week at the China-Ethiopia Huajian International Light Industry City Special Economic Zone from November 22 to 30, 2024. This exhibition serves as a leading platform for showcasing advanced technologies within the country.
In an exclusive interview with The Ethiopian Herald, of Huajian International Light Industry CityDeputy General Manager,William stated that Ethiopia’s investment policy reform fosters a favorable investment climate, successfully attracting investors from around the world.
He stated green energy is among the sector that the country has given due attention and Ethiopia is making significant strides toward achieving a green energy transformation and seeing encouraging results in the sector. Ethiopia has recently banned the import of petrol cars to promote the adoption of Electric Vehicles (EVs), demonstrating the nation’s commitment to green energy transformation. This initiative is a crucial step in addressing the pressing issue of climate change globally,he emphasized.
He explained that as a result of these reformsprocess, the influx of local and international investors is significantly increasing,contributing to the economy of the country which is on the rise due to the supportive economic conditions.
Positioned strategically in the Horn of Africa, Ethiopia presents a promising investment destination and it is fostering favorable conditions for industrial growth, he noted.
With a population exceeding 120 million, Ethiopia possesses a significant market potential, which is vital for attracting investors. “Ethiopia has a vast human resource base, with over half of the population being young and workforce. This offers a great opportunity for investors by providing affordable labor and enhancing the attractiveness of companies to invest in the country.”
Given the large population, the company is working to fulfill local demands and beyond, thereby increasing its production capacity.Moreover, it plays a crucial role in generating ample job opportunities for local citizens. The country is poised for substantial growth in the manufacturing sector. I am optimistic that Ethiopia will evolve into a manufacturing hub in the region in the future.
Transport and Logistics Minister Alemu Sime (PhD) stated that Ethiopia has made significant strides in implementing green initiatives and continues making a remarkable progress towards achieving green energy transformation and committed to reducing greenhouse gas emissions through the implementation of green initiatives.
The ten-year strategic plan for the transport sector serves as a standard for sustainable development goals, with Ethiopia emphasizing the execution of electric transport services as a key component of its dedication to green energy. The government focuses on the adoption of vehicles powered by renewable energy as part of the country’s commitment to fostering a green economy, according to Alemu.
BY HAILE DEMEKE
THE ETHIOPIAN HERALD SATURDAY 30 NOVEMBER 2024
