Ethiopia’s Economic Reform Catches Israeli Investors Attention, Says Ambassador Raphael Morav

Addis Ababa December 23/2020 (ENA) The ongoing economic reform measures in Ethiopia have attracted the attention of Israeli investors, according to Israel’s Ambassador to Ethiopia.

Speaking at a webinar jointly organized by Ethiopia’s Embassy in Israel and Israel-Africa Chamber of Commerce yesterday, Ambassador Raphael Morav said Israel supports the ongoing economic reform.

The ambassador, who noted that Ethiopia has enormous investment potentials, stated that the country has been taking economic reform measures during the last two and half years in order to create conducive environment for foreign investors.

Foreign Affair State Minister, Tsion Teklu said the government has been taking political and economic reform measures to help freedom and prosperity flourish and to create all inclusive private sector-led economic development in the country.

She added that the opening of telecom and logistic sectors for the private sector shows the government’s commitment to realize the economic reform.

The Government of Ethiopia will provide the necessary support for Israeli businesspersons who engage in investment, the state minister added.

Noting that Ethiopia and Israel are countries with strong historical and spiritual ties, Ethiopia’s Ambassador to Israel Reta Alemu said the high-level official visits and bilateral treaties have contributed a lot to the understanding and friendship between the countries.

According to him, the Government of Ethiopia is committed to enhance interaction in sectors promoting mutual benefits of the two countries.

Representatives of the Israel-Africa Chamber of Commerce on their part explained the burdens of COVID-19 on trade and investment and put forward mechanisms that could be done jointly to promote trade and investment in the future. 

Ethiopian Investment Commission Deputy Commissioner Temesgen Tilahun, Africa and Latin America Economic Affairs Director at Ministry of Foreign Affairs of Israel, Mihal Gur-Aryeh, members of Israeli Chamber of Commerce and representatives of companies engaged in agriculture, manufacturing and technology attended the webinar.