- Supplements Ethiopia’s aspiration to vibrant private sector
ADDIS ABABA – Germany is desirous of supplementing Ethiopia’s 10-Year Homegrown Economic Reform Agenda and promote the latter’s socioeconomic development, the country’s ambassador said.
Germany Ambassador to Ethiopia Stephan Auer made the above remark while opening the Ethiopia Private Sector Forum yesterday.
Aligned with the priorities and reform agenda of the Ethiopian government, German Development Cooperation has been an anchor of private sector development in Ethiopia throughout all different times, he emphasized.
Ambassador Auer added, “We stand behind the goal of promoting an attractive business environment and investment climate for the private sector to boost job creation and income opportunities for the Ethiopian communities.”
In addition to supporting Ethiopia’s Homegrown Economic Reform Agenda and other recent sectoral strategies including the new manufacturing industry policy, Germany is actively promoting the private sector development through financial cooperation with KfW Development Bank and technical cooperation with GIZ.
He further highlighted that the Ethio-Germany areas of partnership has also encompassed the promotion of decent jobs, local businesses, sustainable investment, industrial development, supply chains and financial services.
Germany has also been supporting the Development Bank of Ethiopia via KfW and contributed a lot to the mechanization efforts of the agriculture sector in order to achieve wheat self-sufficiency and increase crop output and other provided access to loans for 488 small and medium enterprises in Ethiopia.
According to the Ambassador, a vibrant private sector requires strong institutions and the development of reforms, policies and strategies. “In order to allow sustained private sector growth and investment, there needs to be a systematic dialogue process between the government entities and the private sector.”
Ethiopia Private Sector Forum which was organized by GIZ in partnership with the Ministry of Industry and private-sector associations aims to unleash the private sector’s potential to Ethiopia’s economic transformation.
High-level government officials, corporate leaders from the manufacturing industry, representatives of sectoral associations and other stakeholders were in attendance at the forum.
BY ASHENAFI ANIMUT
THE ETHIOPIAN HERALD FRIDAY 31 MAY 2024
