Ethiopia is the most preferable foreign investment destination as it is endowed with abundant and diverse renewable energy resources, works for strong regional integration and has strong internal market as it is the second most populous country in Africa and the like.
The Ethio- Australia and New Zealand Business Forum discussed in depth the nation’s most promising manufacturing businesses and the untapped investment opportunities in the country as a whole.
Opening the Forum yesterday, Foreign Affairs State Minister Regassa Kefale said that making use its sound and environmental friendly industrial policy, Ethiopia is right now aggressively working to change its predominantly agrarian based economy to industry one in the shortest time possible.
He further said that the nation is exerting efforts to register 25 per cent annual industry growth over the next few years.
As to the ongoing plan to implement an integrated agro-park strategy in a mutually beneficial manner, the State Minister extended invitation to interested Australian and New Zealander investors to take part in the first ever International Forum on Agro-parks development in Addis Ababa slated for October 5-6, 2016.
According to Regassa, Ethiopia is a leading African country in terms of fostering investment in infrastructure as it has allotted 60 per cent of its budget for efficient infrastructural networks.
He added that Ethiopia is the most preferable foreign investment destination as it is endowed with abundant and diverse renewable energy resources, works for strong regional integration and has strong internal market as it is the second most populous country in Africa and the like.
Regassa also took the opportunity to call on Australian and New Zealander investors to seize existing wide and promising opportunities particularly in light manufacturing businesses and to give their hands in the efforts to modernize Ethiopia’s agriculture as well as to create strong mining sector.
Australian Ambassador to Ethiopia Mark Douglas Sawers also said that in line with the identified top development priorities of Ethiopia in GTP -II, his country is keen to work hand in glove with Ethiopia particularly in the areas of manufacturing, education, mining, and agriculture.
Office of the President Legislative Council of Victoria Bruce Atkinson told journalists on the occasion that Australia highly appreciates the overall development activities in Ethiopia and has a great hope in seeing the nation’s successful economic transformation in the very near future.
Presently, the trade exchange between Ethiopia and Australia stands at 60 million USD.
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