BY TAMERU REGASA
ADDIS ABABA – With a view to efficiently tapping Ethiopia’s wider investment potentials, the enaction of viable investment laws and related policy framework by the governmentis instrumental, experts in the field said.
Though, Ethiopia has enabling legal frame work and endowed with huge investment potentials, shortcomings in the implementation of laws hindered flow of investment, the experts told local media.
The renowned economist Shiferaw Adilu (PhD), who cited Ethiopia’s attractive investment opportunities, noted that, the country is blessed in excellent climate and fertile soils. Accordingly, 33 percent of Ethiopia’s land mass is suitable for farming and it has 10 million hectares of land for irrigation.
Likewise, most part of the country support the production of some of the world’s most coveted food crops including pulses, oil seeds, a wide range of fruits and vegetables, coffee, tobacco, sugar cane, tea, spices among many others.
Concerning market accessibility, the economist stated that, with regional hub to wide market accessibility, Ethiopia is the second largest market in Africa, and is also part of the Common Market for Eastern and Southern Africa (COMESA).
Also, Addis Ababa has emerged as a regional hub and is home to key international organizations such as the African Union (AU) and the United Nations Economic Commission for Africa.
Shiferaw further highlighted that, Ethiopia enjoys preferential access to key markets including Australia, Canada, Japan, New Zealand, Norway, Switzerland, China, India, Russia, the Republic of Korea, and Turkey.
Sharing the above, another noted economist ZelalemTeklu (PhD) indicated Ethiopia has immense investment opportunities that businesses could easily obtain considerable profit in investingin strategic areas including agriculture and manufacturing industry. Both agriculture and manufacturing are labor intensive thereby providing significant jobs for the ever-expanding youth.
Apart from executing different legal frame works, the government needs to enhance investment service delivery and address malpractices including corruption and nepotism in the sector.
The current instability in parts of the country harms the investors’ willingness to come and do business here and the government should react meticulously and efficiently to address the challenge through national dialogue and other peaceful means. Resolving the problem with the rebellious TPLF and Shene groups also worth equal consideration to bring sustainable peace in the country, the academician remarked.
The Ethiopian Herald March 22/2022