Ambassadors Say Saudi Arabia, UAE Investors Interested in Ethiopia

Addis Ababa, August 29/2020( ENA) Saudi Arabia and United Arab Emirates (UAE) investors are showing increasing interest in investing in Ethiopia, Ethiopia's ambassadors in the countries said.

Ethiopia's Ambassador to Saudi Arabia, Abdulaziz Ahmed told ENA that Ethiopia and Saudi Arabia have very good relationship and there are many companies interested to invest in Ethiopia.  

“The proximity of the countries helps investors to invest in Ethiopia. And the investment opportunity and legal framework in the country are nowadays changed,” he added.

According to him, there are huge number of investors waiting for this pandemic to pass and  invest.

Ambassador Abdulaziz revealed that “some of investors are in particular targeting Ethiopia for their food security, in farming and agriculture products. There are also investors who want to invest in Ethiopia and export to other countries, export to the Middle East countries the industrial products.”

Moreover, the ambassador recalled that Saudi Arabia is the largest Ethiopian coffee export destination. Other agricultural products are also being exported to Saudi Arabia.

Ethiopia's Ambassador to the United Arab Emirates, Suleiman Dedefo said on his part that the trade and investment relation between Ethiopia and UAE is increasing from time to time.  

“This time, UAE is one of the largest destinations of Ethiopian products, especially for agriculture products, meat, and live animals. Products like horticulture are also exported to the country,” he added.

However, more could be done by  improving  quality, according to the ambassador.

Apart from this, UAE has big potential for Ethiopian products, Ambassador Suleiman said, adding that “we are trying to increase the volume of Ethiopian products to the Emirates by attracting different producers from Ethiopian side as well as importers from UAE.”