Number of Turkish companies visiting Ethiopia because of their desire in investing in the country has been increasing, Ethiopian Ambassador to Turkey Ayalew Gobeze announced.
In an exclusive interview with ENA, the Ambassador said 120 Turkish companies visited Ethiopia last year. Of these investors some have already got licenses and others are planning their projects.
The number is expected to increase this year. Some 10 Turkish investors, who are interested to invest in Ethiopia, have visited the country in the month of September, he added.
These companies have shown interest to engage in textiles and leather industries and cotton cultivation, he said.
Noting the share of Turkish investment in Ethiopia is large, Ayalew said, number of companies that are desirous to invest in Ethiopia is also increasing.
A total of 350 projects owned by Turkish companies are licensed so far, of which 90 are already operational.
In addition to textiles, leather and agro processing, Turkish companies are also engaged in the construction sector.
The bilateral relations between Ethiopia and Turkey have been growing over the past years, according to Aykut Kubaroglu East African Affairs Deputy Director at Turkish Foreign Ministry.
Turkey has created strong investment tie with Ethiopia, which is one of the fast growing economies in the world, he added.
The favorable investment atmosphere, fast economic growth and peace and stability of the country are helping Ethiopia to attract more Turkish investment, the Director said.
[ENA]