Foreign Investors Encouraged to Make Use of Ethiopia’s Economic Reform

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Addis Ababa September 18/2019 Foreign investors are urged to engage in Ethiopia as the country is taking positives steps towards realizing massive economic reforms, including the privatization of state-owned enterprises, Foreign Affairs State Minister Markos Tekle said.

Addressing the Ethio-Tunisia business forum today, the state minister said spectacular successes have been achieved in political, diplomatic and socio-economic spheres for over a year.

During this period, the new administration has also taken several measures to improve the state of doing business in Ethiopia.

“We believe that the first promotion for business and investment is treating those investors who are already here in the country. So, the government has set a steering committee that solely works towards achieving successful results,” Markos stated.

Fundamental measures that change the investment laws as well as trade registration will subsequently be taken.

According to Markos, the government has already been taking steps to privatize key economic public enterprises such as telecom, shipping, and logistics, among others.

The favorable political landscape, the huge skilled and semi-skilled labor, the massive investment in infrastructures such as road, railway and energy are among the opportunities that attract investment to Ethiopia, the state minister pointed out.

Markos called on the Tunisian business delegation to inject their investment in the coutry.

“We look forward to increased investment; because as I mentioned the opportunities are many and the returns good, protection granted and incentives competitive,” he elaborated.

His Tunisian counterpart, Hatem Ferjani said on his part “we are here in Addis Ababa to further strengthen bilateral relations, especially in the economic sector, so that our people can benefit from the excellent relation of the two countries.”

This type of gathering enables to explore and enhance business cooperation and opportunities that could improve economic relations of the two countries and galvanize economic growth, he added.

The trade and investment ties of the countries do not reflect the excellent diplomatic relations, Ferjani said, adding that this forum is thus crucial to identify sectors and economic potentials as well as to set up and explore exportable products.

Citing the huge potentials that the two countries have, the state minister said Ethiopia has become a top FDI destination in Sub-Sharan Africa, as Tunisia has become the economic hub in the Mediterranean region, thanks to the dynamism of its society, geographic location accessible transport and communication connectivity, he noted.

The 40-person Tunisian business delegation arrived this week in Addis Ababa to assess investment opportunities in Ethiopia.