ADDIS ABABA- Key business leaders and anchor investors from the manufacturing, agriculture, service sectors and government have come together by the Coca-Cola led campaign, Going Big in Ethiopia, to promote Ethiopia as a prime investment and development hub.
During the launch of the campaign Thursday evening, President of the Southern and East Africa Business Unit of the Coca-Cola Company Bruno Pietracci speaks on behalf of the participating business leaders that since growth has been heavily dependent on private sector investment, investors have to take advantage of the comprehensive investment climate reforms being spearheaded by the incumbent.
Pietracci also said his company believes in Ethiopia’s growth story and transformation agenda of becoming one of Africa’s top manufacturing hubs.
“We are witnessing rapid economic growth in sub Saharan Africa and believe that sustainable development on the continent is inevitable. Ethiopia’s growth story is unique; it’s the diplomatic capital of Africa as the seat of the African Union and the United nations Economic Commission, enabling access to the rest of the continent and cementing the country’s commitment to achieving inclusive growth and shared prosperity for its citizens and the region,” Pietracci said.
Abebe Abebayehu, Commissioner of the Ethiopian Investment Commission, said that the government’s transformative administration to move the country from a state-led to a market-led economy has further encouraged investment from the private sector.
Ethiopia is now on top of the fastest growing economies in the world, the Commissioner noted. With the strong economic performance, infrastructural developments and on-going market liberalization, Ethiopia is treading on the right path to becoming Africa’s leading investment hub, he added.
Abebe also said increased foreign direct investment and participation of the private sector confirm sustained growth can only be achieved through concerted efforts. He emphasized the government seeks to promote incentives that will be able to assist the entry of foreign investors in infrastructure and manufacturing sectors.
The Coca-Cola Company, Ethiopian Investment Commission, Tourism Ethiopia, Ethiopian Airlines, Moenco Africa, Moyee Coffee, H&M Ethiopia, and renowned Olympic champion and businessman Haile Gebre-selassie are amongst the business leaders and stakeholders participated in the campaign
The Ethiopian Herald June 22/2019
BY ZELALEM GIRMA
