In a country where unemployment is rife, promoting investment opportunities is a critical issue to generate job opportunities and to stimulate the economy. In this respect, in addition to government’s multilayered endeavors, citizens, in particular envoys and counselors can do a lot in terms of stimulating the investment environment through supplying investors with credible information.
Ethiopia has untapped investment potentials that could create massive job opportunities for citizens, accelerate country’s economic growth and at the same time yield considerable benefits to investors. Currently, it is working aggressively to attract more investors through devising various mechanisms – formulating investment friendly policies and strategies and developing incentive packages among others.
Recently, the delegation of UK based ‘Invest Africa’ have come to Ethiopia to assess country’s investment potentials. The delegate had made discussions with senior government officials, stakeholders to learn more new avenues for investment and partnership and visited industrial parks.
Minister of Innovation and Technology Dr. Eng. Getahun Mekuria said that though the bilateral relations between Ethiopia and UK dates back to 1870s and have strong foundation, in business areas it was not at the desired level.
Ethiopia, under the leadership of Prime Minister Abiy Ahmed, is striving to flourish its economy by reforming it and creating conducive investment environment for the private sector to take part in telecom, finance, energy and services areas. To mention few the incentive packages as well the recent relaxed investment policy are among the measures taken by the government to encourage investors to come to Ethiopia, he said.
“We welcome the UK “Invest Africa” and we are ready to harness our partnership, two private Telecom operators will operate in the sector starting 2020 March.”
Nardos Ayalew, Ethiopian Embassy in London Business Diplomacy Minister Counselor told The Ethiopian Herald that the Embassy is working to draw investors especially in country’s priority areas.
It arranges delegations’ visit and holds discussion with pertinent stakes to brief Ethiopia’s investment opportunities and further strengthen investment. “We approach investors and associations to inform them about nation’s favorable investment policy, the incentives and the avails. The Embassy will keep on promoting the investment opportunities in Ethiopia.”
Ethiopian Investment Commissioner, Abebe Abebayehu, for his part said that Ethiopia is more ready than ever to attract both domestic and world class investors in various fields.
The agriculture, mining, finance, manufacturing, textile, telecom and logistics as well the hospitality sectors among others are open for all who aspire to do business in Ethiopia. It has also constructed a number of industrial parks in areas where connectivity is favorable.
“We are committed to work with the delegation of UK ‘Invest Africa’.
Former British Prime Minister’s Trade Envoy to Ethiopia, Jeremy Lefroy also said: “Ethiopia is full of opportunities. I am delighted to be joining Invest Africa’s Investor Mission to Addis Ababa as we continue to deepen the trade and investment links between the UK and Ethiopia.”
Invest Africa CEO, Karen Taylor also said that the visit is an important opportunity to reinforce relationship with the Ethiopian government and learn how its ambitious liberalization and privatization agenda has progressed. Ethiopia remains one of the most attractive markets in Africa as it has opened new sectors to the international businesspeople.
Taylor further noted: “Interest in the Ethiopian market amongst our members has only grown over the last twelve months and I am confident that the trip will provide useful opportunities for new partnerships, deals and acquisitions between delegates and local stakeholders.”
Investors from a range of strategic sectors including agriculture, telecoms, logistics, tourism, mining and power are included in the visiting delegation, it was indicated.
The Ethiopian Herald December11, 2019
BYMENGISTEAB TESHOME
