ADDIS ABABA – Ethiopia hopes to attract more investment from the 2020 World Economic Forum (WEF), announced Ethiopian Investment Commission. In an exclusive interview with The Ethiopian Herald Ethiopian Investment Commission (EIC) Commissioner Abebe Abebayehu said that the World Economic Forum (WEF) is regarded as a major annual platform where influential political leaders, top business executives, and leaders of international organizations come together from around the world to make collaborative activities, shape the global, regional and industry agendas. As the Forum brings thousands of public and private sector leaders across the world, hosting it for Ethiopia will have substantial benefits, he remarked. “In my view, it could give opportunity to attract more investments and let the globe know how Ethiopia is suitable for businesses.”
Furthermore, the Forum will create a collaborative approach among governments, private sector and civil societies in addressing key global challenges in Africa, he added. Mentioning that nominating Ethiopia to host the World Economic Forum is a great milestone for Ethiopia and Africa, the Commissioner said that it has emanated from Dr. Abiy Ahmed reform efforts in various lines, he added. EIC Public Relation Head Mekonnen Hailu on his part noted that Ethiopia’s effort in attracting investors is catching the attention of a number of anchor companies around the globe.
Mentioning that the International Monetary Fund (IMF) has praised Ethiopia’s remarkable progress over the past decade, he said that this has led to a significant reduction in poverty and improved living standards for many Ethiopians. The country’s large infrastructure investments are beginning to bear fruit and the provision of public services such as education and health has increased dramatically. As a result, the population has enjoyed important gains, he further said referring the report. Ethiopia has built on its strong of development over more than a decade.
Growth slowed in 2017/18, but remained high while the current deficit continued to narrow, The IMF says in its recent report on the economic health of Ethiopia. The Sub-Sahara country is embarking on its phase of economic and social development –supported by reforms and powered by the private sector. “The nomination to host the Forum in my view could court various investors to a range of sectors. That could let Ethiopia beneficiary in many ways.”
According to Abebe Akalu, Secretary of the Ethiopian Citizens Party for Social Justice (ECPSJ) the phenomenal effort made to change the hectic political discourse to more inclusive and participatory democracy has led the nation to be nominated. It was learnt that the World Economic Forum on Africa will be held in Addis Ababa in September 2020 and is expected to be attended by over one thousand people.
The Ethiopian Herald May 22/ 2019
BY MENGISTEAB TESHOME
