ADDIS ABABA – The Embassy of Ethiopia to Benelux and EU institutions together set to host a round table in a bid to promote Ethiopia’s untapped opportunities for Investment and Export in the Pharmaceutical sector for foreign pharmaceutical companies.
The round table is slated for April 7, 2022, according to the Embassy of Ethiopia to Benelux.
The main objective of this event is to show the pharmaceutical companies in Belgium, Luxembourg, and The Netherlands about abundant opportunities for investment and export in the pharmaceutical sector in Ethiopia, it was indicated.
According to the embassy ‘s press release, competent institutions of the sector from the side of Ethiopia will be part of this round table to explain to the distinguished representatives of the companies about the investment climate in Ethiopia, incentive packages, provision of land, industrial parks, trained and easily trainable labor force, market opportunities, and other things.
Higher officials from the Ethiopian Investment Commission (EIC), Industrial Parks Development Corporation (IPDC), Ministry of Health, Ethiopian Food and Drug Authority, Ministry of Foreign Affairs, and selected local pharmaceutical companies will be among the participants to share their experiences on the matter.
Ethiopia offers an untapped investment and export opportunity for foreign pharmaceutical companies. As most of the African countries have ratified
the Continental Free Trade Agreement (AfCFTA), Ethiopia has the potential to serve as an export hub for the more than 20 billion USD pharmaceutical market in Africa, it was stated.
“We also offer the companies access to the state-of-the-art Kilinto Pharmaceutical Industrial Park at preferential land lease rates.
The comprehensive set of incentives for investors includes corporate income tax exemptions, personal income tax
exemptions, duty and other tax exemptions on inputs, zero tax on exports, export facilitation, preferential access to public procurement, and a regulatory system. Hence, seize the opportunity and do business in Ethiopia.”
The Embassy of Ethiopia in Brussels cordially invites pharmaceutical companies, industry owners, and representatives in the pharmaceutical sector to take part in this informative round table.
BY MULATU BELACHEW
The Ethiopian Herald March 24/2022