BY BACHA ZEWDIE
Debre Berhan city, which has become one of the main investment destinations that have attracted the attention of investors in Ethiopia, is becoming a role model for other areas with its investment success. The fact that the city is located close to Addis Ababa, safe and peaceful, its favorable climate, and that it has the potential for the development of agriculture, industry and service sectors are among the reasons that made it a preferred investment destination.
Information also indicates that a structural city plan is being prepared for the next 50 years. It is expected that its investment activity will increase in the coming years.
In the 2021/22 fiscal year, 300 investment projects were planned to be approved, and 310 projects worth 39 billion Birr have been approved. These investment projects are capable of creating employment opportunities for more than 35,000 citizens. In the 2022/23 fiscal year, it is planned to give license to 350 investment projects, and in the last three months, it was possible to give license to more than 100 investors.
Debre Berhan has plans beyond this. It is striving to become the preferred investment hub by increasing its current investment capacity. In order to achieve this plan, helping and encouraging the growing inflow of investment in the area; attracting more investors by introducing new investment opportunities and establishing convenient procedures; helping new entrepreneurial youths and creating links with international commercial, financial and investment institutions are important inputs; realizing that they are carrying out activities that help to fulfill these inputs.
Based on this, the “Debre Berhan International Investment, Trade and Finance Expo” which is said to be one of these inputs to increase investment potential, will be held from January 12 to 22, 2023 in Debre Berhan city. The expo is a new event and first-of-its-kind for the city, where no such investment, business and financial expo have been held before. It is believed that this will create additional capacity for Debre Berhan, the successful city with investment performance.
“Debre Berhan International Investment, Trade and Finance Expo” will help to stimulate the national economy by increasing foreign direct investment, which has been stagnant due to the COVID-19 pandemic and the war in the northern part of Ethiopia, by connecting local manufacturing industries with financial institutions and creating a wide range of job opportunities. It is expected to be input in arousing the national economy.
Revitalizing the stagnant and devastated economy; establishing an economic system linked to the international investment community for the North Shawa zone and neighboring areas, which are favorable for surplus producers and any investment activities; creating a common communication platform for commercial, investment and financial institutions; are the main reasons behind organizing the expo that need to promote the investment center of Debre Berhan Regiopolitan City at the international level by conducting an investment campaign, as well as creating an opportunity to promote the investment potential of different areas of the country.
It is expected that 800 to 1000 participants will attend the expo. Domestic and foreign investors, distributors and traders engaged in retail trade, research and innovation institutions, financial organizations (banks, credit and savings and insurance institutions), youth entrepreneur associations and regions, zones, city administrations and districts will participate in the event. They promote their abilities through their participation thereby exchange experiences. High government officials and ambassadors are also expected to attend.
Apart from being promotion of the investment potential and the experience sharing platform, the expo will also hold discussions focused on investment development prospects, challenges and solutions in Deber Berhan.
Registration process of “Tegulet Media and Promotion”, “Zhema Promotion and Events” and “Nablis International Media, Marketing and Events” in cooperation with Debre Berhan City Administration, Amhara Region and the Federal Government for this event will be held from October 25 to January 3, 2023. It was pointed out that registration has officially started in more than 10 cities across the country, including Addis Ababa.
Objectives and benefits of the expo
Deputy Mayor of Debre Berhan City, Kasahun Embiale, explained that the expo is not only about Debre Berhan and its development. Rather, it will contribute to the overall national development of Ethiopia beyond the Amhara region. As to him, the investment, trade and finance expo is an activity that focuses on the areas that need primary attention in terms of investment development and promotion activities in the Amhara region. It is an activity that takes into account the globalization of investment and competitiveness as well as the revival of the stagnant economic activity.
According to Kasahun, promoting, helping and encouraging the increasing inflow of investment in Debre Berhan and its surroundings; attracting foreign direct investment in viable sectors; creating opportunities for youth entrepreneurs and start-ups nationwide to connect with large companies; strengthening the cooperation framework and linkages of international trade, investment and financial institutions; enhancing the investment destination of Debre Berhan; and creating a platform for districts, cities and zones to promote their investment potential to investors are the main objectives of the expo. He also mentioned that an expo focused on investment and financial institutions has never been organized and said that the forum is a good opportunity to gain new experience in the sector.
Kasahun said, “Amhara region is working to develop the sector by identifying the main investment focus sectors and areas, as well as to compensate the damage caused by the war and to stimulate investment activities”. He declared that there is a need to promote the investment potential and activities of Debre Berhan City, which is one of the investment destinations, at the international level.
Kesahun further explained that, they want Debre Berhan to contribute not only to the Amhara region but also to Ethiopia’s investment sector and economic growth by taking the city’s investment opportunities to a higher level. He stated that the expo, which is expected to create capacity to help expand and strengthen the experiences gained through investment, was visualized from this point of view.
Berhan Gebrehiwot, Head of the Department of Industry and Investment of Debre Berhan City, on his part, pointed out that the expo will help attract more investment by promoting the investment potential of the City. He added that the expo will be held on the basis of specific focus areas that will help to increase the investment inflow of the city.
Attracting investors with large capital capacity that can create many job opportunities; encouraging manufacturers and investment sectors that use local raw materials; achieving export-oriented investment; helping projects with better technology to engage in investment; and alleviating poverty by increasing job creation are the directions and guidelines of the investment sector. Considering these areas of focus, the expo will be a platform where the investment potential of Debre Berhan will be introduced and more investment will be brought to the city and its surroundings.
“Investors expected to participate in the expo include those engaged in manufacturing, agriculture and service sectors, financial institutions, small and medium-sized enterprises, young entrepreneurs and research institutions. More investors will come to the area. Young people who graduated in various professions but have not entered the workforce can get experience from the entrepreneurs. There will be experience sharing and discussions that will help the sources of raw materials to create links with manufacturing factories,” he said.
Readiness of Debre Berhan
When planning to organize such a large investment, business and financial expo, it is well known that infrastructure and bureaucratic arrangements should be made to accommodate the participants. From this point of view, it is stated that Debre Berhan is making preparations to host “Debre Berhan Expo 2023” efficiently.
In addition to the preparations made for the expo so far, efforts are being made for the future to solve the infrastructural deficiencies that can be met in the city and the region. They will work in cooperation with the stakeholders on the activities to maintain peace and security. Confirming the readiness of Debre Berhan to host the big event, he said, “We are confident that there will be no infrastructural deficiencies obstacle this expo.”
Berhan Gebrehiwot also said that various arrangements are being made to host the expo. “We have been working to create favorable conditions for organizing the expo. Efforts are being made to correct deficiencies in areas and sectors where more infrastructure gaps are seen in urban cleaning, hotel services and other infrastructure arrangements. In general, a great effort will be made to carry out the expo effectively so that investors can come to Debre Berhan; the society will benefit and the national economy will be stimulated,” he explained.
THE ETHIOPIAN HERALD TUESDAY 1 NOVEMBER 2022
