Over the past months, the government with the aim to further stimulating the investment environment and attracting more foreign and domestic investors has been taking bold business reforms. By enacting eight laws and 40 procedural and administrative reforms, it is working to eliminate the bureaucratic procedures and make the business climate easier for investors’ planning to do business in Ethiopia. Ethiopia is blessed with immense natural resource and plenty of investment opportunities.
Owing to its diverse ecological zones which are suitable for production of various agricultural produces, renewable energy potential, especially hydroelectric, wind and geothermal resources, coupled with its easily trainable human capital and proximity to major international markets, the country has a lot to offer to global communities.
Further than these, the newly established state of the art industry parks, along with the rapidly improving infrastructure and investment friendly policies and strategies make the country a preferred destination for investment. Currently, the nation is grabbing the attention of anchor companies across the globe and a number of multinational companies are eyeing Ethiopia as the country of choice to conduct businesses.
Among these companies China, India, Turkey, Israel, US and European countries are few. The experience of many developed nations has witnessed that behind their strong economies there is always local and foreign investments. It has fuelled their economies. Their path to economic progress orchestrated with encouraging foreign developmental investors. As it is observed and heralded by many of international organizations, the country over the past few years has witnessed an upward trajectory growth and registered more rapid economic development.
Taking this into consideration and realizing nation’s potential as well as its investment potential, international communities have already optimistically predicted its future growth and as it would be the hub of investment in the region. In order to strengthen the upward growth, maintain the more rapid and sustainable performance of the economy as well as speed up its economic transformation and generate stable and decent job opportunities for citizens, the country continues its focus of grabbing more investments.
On top of this, it is undertaking activities to partially or fully liberalize its previously state-owned sectors such as telecommunications, banking and aviation, which were previously closed for foreign investors. This apart from showing government’s commitment in terms of realizing it would create favorable opportunities for investors. Thus, it is inviting more and more investors to come and engage in various areas and take advantages of the huge business opportunities available in the country.
The Ethiopian Herald May 22/ 2019
