In the past solid week, all eyes were glued at Switzerland to learn what the business communities, politicians and decision makers could pass resolutions that may shape the globe in various dimensions. For the past 50 years, it is a usual occurrence for global business and political leaders to conduct business tour to the small Swiss village, Davos, annually to discuss mainly the future of the global economy. As part of this continued convention, hence, Prime Minister Abiy Ahmed had headed last week to attend the Forum.
The main theme of the 2019 World Economic Forum (WEF) was “Globalization 4.0: Shaping a New Architecture in the Age of the Fourth Industrial Revolution.” At the Forum, where over 3,000 participants took part on 350 forums and deliberated on multiple socioeconomic and technology issues of global significance, the Prime Minster Abiy had delivered his notable speech.
The Premier addressed the global society about Ethiopia’s journey and effort for change so far and urged investors to come to the country and invest thereby be part of nation’s effort for transformation. He also discussed the rapid transformation; the country has gone through in the last ten months and the successes it has achieved.
According to him, investment in infrastructure has contributed a lot to the growth and attracted Foreign Direct Investment (FDI), making Ethiopia one of the leading FDI destinations in Africa. “Our challenges, however, remain formidable,” he said mentioning the hindrances that lowered nation’s efforts not to sustain that level of growth, especially to find jobs for a rapidly expanding young population.
“In order to enforce our upward trajectory and achieve even more rapid and sustainable growth, Ethiopia has embarked on a comprehensive reform process since last April,” he remarked. Mentioning that doing business in Ethiopia is easier for everyone who wishes to invest in Ethiopia, he called on investors from across the world to take advantage of the considerable investment and business potentials available in the country.
The Prime Minister said his government is committed to opening up the economy to international investors in telecom, logistics, energy, aviation, railways, and industrial parks and assured as his government further continue to foster public-private partnership.
The Ethiopian Herald approached Messay Mulugeta (PhD) Associate Professor at Collage of Development Studies Addis Ababa University to weigh the partaking of Davos and the lesson Ethiopia could take. Anchored in Premier’s speech, Messay said that Ethiopia is persistently endeavoring to advance its economy by inviting investors, promoting its tourism potential and hammering ties with many higher international intuitions and global trading platforms among others.
He also partook in pushing the Horn Africa peace deal one step ahead in letting, a diplomatic dialogue platform to happen on the Horn of Africa member states at the sideline meetings and dialogues. “These all are worthy for many reasons.” For instance, following the call international business communities will join in various approaches and joint venture firms. So, handling customers from the point of connection and letting them operate in healthy environment is an assignment Ethiopia should do. Access to land and industrial parks as well finance and supervision and logistics services should be well honed.
Dr. Atnafu Gebremeskel an Economist at Addis Ababa University on his part noted that the developed world has accumulated resources and gazing and hunting where the right place is to invest. In this regard, sustaining peace and security and building lasting peace is fundamental. If unrest surface, investment shuns, so working on peace is a crucial task that all states in the region should have to cement, he added.
“We know the prime goal of World Economic Forum meeting is to set an agenda that drives greater multi stakeholder collaboration to address political, economic and societal challenges of our times. To this point, nations of Africa could think to integrate resources and human capital.” Above all, the academia and research institutions should strengthen human capital development efforts in terms quantity and quality to satisfy the growing demand.
“We are entering to the fourth wave of globalization that demands to be human-centered, inclusive and sustainable. We are entering a period of profound global instability brought on by the technological disruption of the Fourth Industrial Revolution and the realignment of geo-economics and geopolitical forces. Equally important, the public should come with right trade policy that could shape nation transactions and let all players to build healthy development.
The Ethiopian Herald January 30/ 2019
BY MENGISTEAB TESHOME
