Japanese Businesses Exploring Investment Opportunities in Ethiopia

Addis Ababa December 8/2023 (ENA)- Japanese businesses delegation drawn from various sector attended the business forum held in Addis Ababa to explore investment opportunities in Ethiopia. 

Speaking at the occasion, Director General of Middle East, Asian and Pacific Affairs at the Ministry of Foreign Affairs, Gebeyehu Ganga said Ethiopia is one of the fastest growing economies in Africa with great potential in a broad spectrum of sectors. 

In this regard, "we attach a great importance to Japanese companies because they have experience, knowhow and technologies that could contribute to the development of the country," he elaborated. 

Moreover, he reiterated that the government is committed to fostering strong bilateral relations with Japan and we look forward to welcoming more Japanese businesses to the country to explore emerging and untapped sectors of investment. 

"I believe the convergence of the ample potentials of Ethiopia on one side and the technological advantages of the Japanese companies on the other give a leverage to strengthen the economic ties of the two countries in addition to benefiting both parties," he said.

Therefore, the event will serve as a showcase for the great unexploited investment and trade potential which Ethiopia possesses, according to director general.

 

Investment Promotion Team Leader at Ethiopian Investment Commission, Mekonnen Hailu, briefed the business delegation about investment opportunities, incentives, laws and system in Ethiopia.  

He added that the government has already undertaken economic reforms with a view to attracting more foreign investors into Ethiopia, including liberalization and privatization of industries.

The country has vast investment opportunities in various sectors, especially in five key pillars of agriculture, manufacturing, ICT, mining and tourism which are the key priorities in terms of FDI.