ADDIS ABABA — Spain is keen to deepen its economic engagement with Ethiopia, exploring new investment opportunities across a range of sectors including tourism, aviation, renewable energy, and healthcare, according to Spain’s Ambassador to Ethiopia, Guillermo López Mac-Lellan.
In an exclusive interview with The Ethiopian Herald, Ambassador Guillermo underscored the vast potential for Spanish investors in Ethiopia and emphasized the mutual benefits of a closer economic partnership.
“There is strong interest from Spanish businesses in Ethiopia’s evolving market, and we believe there are numerous areas for collaboration,” the Ambassador said. He noted that despite cultural differences, cooperation is possible — particularly in industries such as pharmaceutical manufacturing and construction materials.
The Ambassador commended Ethiopia’s economic reform agenda launched in 2018,ncluding the liberalization of the telecommunications sector and the opening of the banking in dustry to foreign players. These efforts, he s aid, signal efforts, he said, signal Ethiopia’s commitment to transforming its historically state-controlled economy.
“The progress Ethiopia has made over the past few years is commendable,” he added, highlighting recent agreements with the International Monetary Fund (IMF) and the World Bank (WB) as important milestones in the reform process. However, he also acknowledged the ongoing challenges, including foreign currency shortages and regulatory bottlenecks that continue to affect business operations.
Amb. Guillermo pointed to Ethiopia’s strategic geographic position and its robust national carrier, Ethiopian Airlines, as valuable assets for enhancing bilateral trade and connectivity across Africa.
Spanish companies such as Celorio Valleverde and Ibercoton have already established a presence in Ethiopia. While some projects faced setbacks due to past conflicts, the Ambassador expressed optimism that operations would resume as stability returns. He added that Spain’s expertise in construction, textiles, and renewable energy could contribute significantly to Ethiopia’s industrial development.
“Spain remains committed to building a strong, long-term economic relationship with Ethiopia,” the Ambassador concluded, calling for continued dialogue and collaboration between the two nations.
BY GIRMACHEW GASHAW
THE ETHIOPIAN HERALD SATURDAY 12 APRIL 2025
