The preeminent instance to invest in Ethiopia is now as a number of catchy scenarios like a luring investment atmosphere, capable human power and apt ground for doing business are becoming common these days.
Not only is Ethiopia located at a geopolitically and geospatially strategic signpost, but it is also copiously endowed with natural resources, myriads of tangible and intangible heritages, economical human capital and a wide acre of arable land. Yes, the East African icon, Ethiopia, is the most investment preferred nation and capable of attracting a number of investors, be they are local or foreigners.
True, a variety of factors can be cited for driving up Ethiopia’s investment potential thereby making a significant contribution to its social, economic, cultural and even political maturity. Ethiopia’s economic growth prospects are among the continent’s brightest trajectories since the nation has shown remarkable strides along that line. Investment is thus of paramount importance in driving the progress and growth wheel well.
Interestingly, sectors where foreign companies could have a comparative advantage like telecommunications and infrastructure are among the drivers of the existing economic growth in the country via creating clear investment opportunities for foreign businesses.
Country’s growing population peculiarly that of the youth constitutes a formidable market, which can potentially maximize the optimum use of the nation out of investment, and the sector in Ethiopia has been leading to benefits that far outweigh the cost of doing business at a wider scope. That is why investors of all sorts have been eying at Ethiopia. Nation’s large existence of natural resources and investment potentials promise a bright future for mounting the socio-economic tendency. Agriculture and the extractive sectors are linchpins of local, regional as well as national value chains.
Undeniably, the emerging domestic development lends credence to actively engaging Ethiopia’s economic transformation program. Here, the government needs to build on the positive trend witnessed regarding investment moves to maximize foreign investments, basically through eliminating corruption, improving safety and security; strengthening macroeconomic environment, investing in technology. Investing in Ethiopia is quite important in expanding business and a sustainable corporate strategy for foreign investors.
The government of Ethiopia has shown keen interest and commitment to bring meaningful development and investment in every corner of the nation via leveraging its natural beauty and resources. Inaugurating Arba Minch University Teaching and Comprehensive Specialized Hospital, Prime Minister Abiy, for instance, revealed country’s potential mentioning the area a case in point. True, not only is Ethiopia’s potential capable of supporting itself to boost economy but it is also of significantly useful in serving other countries by attracting respective investors.
As leant from the Premier, the area is rich enough with fruit trees, diverse bird species, mountains, and abundant water sources; this makes it a prime location for development and even investment.
Yes, the various mammoth projects underway following the ‘Dine for Ethiopia,’ ‘Dine for the generation,’ among others, have now been bearing fruits. Hence these projects need to be expedited, nurtured and properly completed to help the nation lift itself out of the grip of poverty it finds itself in. One of the best ways to do so is attracting a range of investors who are capable and willing to pump funds into consequential initiatives thereby changing the lives of citizens and helping the nation defeat poverty for good.
In sum, making Ethiopia a land of paradise and helping it take the lead would be easy as the nation lacks nothing; citizens have to embark on bolstering cooperation and unity to make a difference in all aspects. Cognizant of the fact that investors, both domestic and foreign, are naturally hesitant about investing in places where basic requirements, such as roads, health services and utilities are inadequate, the government of Ethiopia had better attach due emphasis to fulfilling the aforesaid requirements. In so doing, it won’t be difficult to make money and do business through widely investing in different parts of the nation.
THE ETHIOPIAN HERALD TUESDAY 9 JULY 2024
