The Ethiopian Investment Commission presented investment opportunities in the country to British and other foreign investors yesterday at the Hilton Hotel.
Ethiopian Investment Commission Director General Fitsum Arega said that Ethiopia’s economy is still young with vast untapped resources and a range of investment opportunities. The country has huge investment opportunities in the manufacturing sectors.
Fitsum briefly described the vast investment areas undertaken by many investors in Ethiopia particularly in agriculture and agro-processing. He invited the investors to engage in manufacturing, hotel and tourism sectors.
According to Fitsum, there are ample manufacturing opportunities for prospective investors in the production of food, beverages, tobacco, textiles and garments, leather goods, paper, cement and chemicals.
There are now UK investments in a range of sectors such as education, leather, mining, oil and gas, as well as food processing. British companies have been operating actively in creating local employment, transferring knowledge and management skills which contribute to building the economy.
Ambassador and Permanent Representative to the African Union, Greg Dorey said on his part that Ethiopia is truly a land of extremes in attracting investors in different investment opportunities with suitable environment. Ethiopia shows keen interest to improve the situation, including the creation of an environment conducive to private, local and foreign investment.
He also said that the Programme offers expertise to create contacts through its extensive network of specialists in the UK, and in other diplomatic offices around the world and help boost competitiveness at the global level.
According to him, UK investors have shown increased interest in the economic opportunities in Ethiopia which can also bring their high-quality investment to the country’s dynamic economy, he added.
He said: “Our bilateral relations have been developing very positively for the past many years. Ethiopia became our biggest bilateral development partner in the world, a close collaborator on investment areas.”
He added: “We have seen our trade and investment relationships take off dramatically too. I want to see them grow more in future years as high rates of growth continue and the country opens up further.”
[WaltaInformationCenter]