ADDIS ABABA – German tech giant Siemens has signed a Memorandum of Understanding (MoU) with Ethiopian Investment Commission (EIC) to establish a platform for collaboration and a long term cooperation to address the current energy and infrastructure challenges in Ethiopia. EIC Commissioner Abebe Alemayehu and Mrs. Sabine Dall’Omo signed the MoU Thursday.
This milestone MoU paves the way for Siemens and the Ethiopian government to jointly deliver on creating an elaborate platform and to follow through possibilities for sustained partnership and funding models. The partnership and funding initiatives focus on establishing and expanding existing grid infrastructure, bringing fast track power plants online, establishing innovative mediums for partnership between multinationals, public institutions and other key stakeholders, fostering vocational training in engineering disciplines, initiating sustainable development of health and transport sectors and strengthening small and medium sized local business(SME) and industrialist.
Commissioner Abebe highlighted that, Ethiopia shall continue its drive as the primary destination of Foreign Direct Investment(FDI) and will endeavor to fully utilize the vast experiences, technological and management competencies and funding models availed by multinationals such as Siemens. The commissioner affirmed the Ethiopian government’s fullest commitment to realize the commencement of this collaboration and to set up a standing coordination committee for the purpose.
He further pledged to work proactively with Siemens and government agencies to effectively translate the partnership into concrete actions and actual investments. Mrs. Sabine Dall’Omo, on her part remarked that, Siemens first-rate investment strategy in smart energy, infrastructure and industry solutions gains further momentum with the signing of the MoU with Ethiopia.
The head expressed appreciation for the vigorous interest and support extended by the Ethiopian government both in carefully identifying and in continuously working on these strategic sectors as keys for ensuring sustainable socio-economic development in Ethiopia. With the second highest population in the continent and one of the fastest growing economies in the world, which is also intended by a well-articulated government vision, Mrs. Sabine Dall’Omo stated, Ethiopia presents an exemplary model for advancing Siemens’ investment and development strategy in Africa.
The Ethiopian Herald April 6/2019
BY HAILE DEMEKE
