BY BACHA ZEWDIE
Debre Birhan Regio-politan City, which has become one of the main investment destinations that have attracted the attention of investors in Ethiopia, its investment success can be a role model for other areas. The city has become the location of multiple investment institutions.
Its proximity to the city of Addis Ababa; its safe and peaceful environment; its favorable climate and its potential for the development of agriculture, industry and service sectors are among the reasons that made Debre Birhan a preferred investment destination. The city, which is preparing a structural urban plan for the next 50 years, is expected to increase its investment activities in the coming years.
The city is striving to become an investment hub by increasing its current investment capacity. In order to achieve this plan, it is carrying out activities that help to fulfill necessary inputs by realizing that helping and strengthening the investment flow that is increasing in the area; attracting more investors by promoting new investment opportunities and establishing convenient procedures; helping new entrepreneurial youths and creating links with international commercial, financial and investment institutions.
One of these resources to increase investment capacity is to increase Foreign Direct Investment (FDI), which has been stagnant due to the covid-19 pandemic and the war in the northern part of Ethiopia, by linking local manufacturing industries with financial institutions and creating a wide range of job opportunities, which is said to be a helpful resource to revive the national economy is “Debre Birhan International Investment, Trade and Finance Expo”.
The expo, which was officially opened on January 14, 2023, was lasted for 10 days. More than 250 local and international institutions participated in the expo. Discussions on investment, art exhibitions and experience exchange forums were also part of the expo.
To revitalize the stagnant and devastated economy; establishing an economic system linked to the international investment community for the North Shewa zone and neighboring areas, which are favorable for profit producers and any investment activities; creating a common communication platform for commercial, investment and financial institutions has been stated as the main reasons for organizing the expo.
In addition, the expo promotes, helps and encourages the increasing flow of investment in Debre Berhan and its surroundings at an international level; by attracting foreign direct investment in viable sectors; by creating an opportunity for youth entrepreneurs and start-ups at the national level to have connections with large companies; by strengthening the cooperation framework and linkages of international trade, investment and financial institutions; by increasing the investment destination of Debre Birhan. Since an expo focused on investment and financial institutions has never been organized before, it is believed that it will have a great contribution in creating a platform for districts, cities and zones to promote their investment potential to investors via providing new experience in the sector.
According to the Deputy Prime Minister and Minister of Foreign Affairs of the Federal Democratic Republic of Ethiopia, Demeke Mekonen, the expo is an important platform that will help the government’s efforts to rehabilitate the areas affected by the war.
“Ethiopia has been in various problems and is currently moving with peace as a key agenda. In addition to maintaining peace, rehabilitating and rebuilding war-affected areas, supporting and sustainably rehabilitating displaced people from various areas are the government’s main focus areas. The Deputy Prime Minister said that it is timely and appropriate to prepare such financial and investment platforms in order to move the country towards a complete and sustainable development.
He mentioned that the expo is a platform where people with knowledge, wealth, energy and wisdom can line up together, adding that it will play an important role in increasing the flow of investment and increasing the economy. He also pointed out that the expo is one of the main focus areas of the government at the moment, which is an activity that supports the rehabilitation of war-affected areas.
“The expo is a movement that will move the investment activity of Debre Berhan and the surrounding area to a new phase,” Demeke said. He added that although the works done to strengthen the expansion of investment in Debre Berhan and its surroundings are encouraging, it is necessary to work hard to achieve more.
He mentioned that Debre Berhan is a city that is positively referred to at the national level for its investment convenience and attraction. He also said that for the city to be a beacon of investment as its name suggests, it needs to be preferred and competitive in terms of service delivery, good governance and other resources. In addition, he pointed out that Ethiopia is one of the preferred countries for FDI and called upon investors to actively participate in the country’s investment activities.
The Head of Government of Amhara Region, Yilikal Kefale (PhD), on his part, said that the expo will create a good opportunity for manufacturers to promote their products to the society, to attract investors and promote investment by introducing favorable conditions.
He pointed out that the expansion of manufacturing industries in various areas of the region is encouraging, but the number of industries that are in production in terms of what is required in the region is small. “Although the expansion of industries in Amhara region is attracting investors, the number of industries engaged in production in the region is still small. If the projects planned on the lands given for investment are not completed and put into operation on time, we will not be able to solve the basic economic problems of our region and our country. Cost of living can be tackled by sustainably increasing productivity,” He emphasized.
He pointed out that productivity will increase when the productive industrial projects that have been started are completed and put into operation, calling on investors to start working as soon as possible. He also assured that the government will provide the necessary support for the investors to complete the work they have started and start production.
Yilikal (PhD) further said that efforts are being made to bring peace and speed up development by leaving the atmosphere of war. The Minister of Industry, Melaku Alebel, explained that such business and investment situations have a great contribution in promoting the favorable investment conditions in the country.
According to him, such platforms will enable local and foreign investors to discover opportunities in each area. Bonds are created between investors. One producer becomes a source of raw materials, technology, labor and markets for the other. The platforms also create marketing links between farmers who are suppliers of raw materials for industries and consumers.
Organizations participating in the expo also said that their participation helped them get to know each other and expand their market ties. Mezgebekal Ayele, a senior expert in marketing, research and advertising at “Ambasal Business Works Private Limited Company”, said that participating in the expo will enable them to promote and sell the products and services provided by their company.
According to him, such platforms help manufacturing and supply companies to generate new customers and stimulate business. He said, “Participating in Debre Birhan Expo is useful to see the potential and the general existing situation in the area; to observe the gaps in the area and to consider the good opportunity to engage in business and investment activities in the future.” He recalled that he had participated in similar expos in the past, and said that his participation introduced him to international institutions and enabled him to expand his working relationships.
Director of Communication and Head of the Board Office of “Belayneh Kinde Group”, Setegn Engidaw, explained that when “Belayneh Kinde Group” participated in the expo; it is promoting and selling its products and services. According to him, the organization has been awarded for 10 consecutive years and has many years of experience in supplying many agricultural products including oilseeds, especially sesame and coffee to the foreign market, so participating in this forum would create a good opportunity for him to know other great institutions and use his experience to carry out effective joint work.
Mentioning that the expo was attended by foreign manufacturers and ambassadors of many countries in addition to local institutions, Setegn said that it will create an opportunity to attract foreign investors to the area.
On his part, Zelalem Liyih, a sales engineer at Wereta International Business Group Private Limited Company, said that the Debre Berhan Expo is connecting and introducing his company to international business institutions. He said that this will increase the company’s market connection. In addition to the benefits that the expo brings to the participating organizations, he said that it encourages investors to come to the city and participate in investment activities. It also allows the city to find many investment options.
The Ethiopian Herald February 9/2023
