Armenian Ambassador Lauds Ethiopia's Transformative Economic Reform, Corridor Dev’t

Addis Ababa, October 18, 2025 (ENA)— Armenia’s Ambassador to Ethiopia, Sahak Sargsyan, has commended the vision of the Ethiopian government and the leadership for carrying out a transformative economic reform and the Corridor Development project.

"The world is now going through transformation itself, and it is important to have the vision, and I see that vision here in your government and the leadership."

In an exclusive interview with ENA, Ambassador Sargsyan said the recent reforms, including the microeconomic reform, are very important and have already shown tangible results. 

Key achievements of Ethiopia's Homegrown Economic Reform include economic growth, record export revenues, and a notable reduction in inflation, supported by a transition to a more market-oriented system and efforts to improve fiscal management and foreign exchange.  

As the business climate is improving very much, Armenian companies are looking for business opportunities in Ethiopia, he added.

Reaffirming that the mission of the embassy will continue facilitating investment as much as possible, the Ambassador stressed the importance of connecting the two sides.

Ambassador Sargsyan also commended the transformative Addis Ababa corridor development which is benefiting residents and the diplomatic community based in the capital.

Addis Ababa, the seat of various international and regional organizations, and the capital of Africa is rapidly changing through the Corridor Development project, he noted.

It is a very good project for the benefit of the residents of Addis Ababa, the Ambassador said, adding that the "ambassadors here are also benefiting from the beautiful parks and development that is taking place now."

Addis Ababa is undertaking a transformative Corridor Development project that involves improving infrastructure, green spaces, and public amenities.

The project includes building new roads, pedestrian walkways, and bike lanes, revitalizing river fronts, and adding new public transport terminals, parks, and housing.

The capital city is rapidly changing through significant infrastructure development, enhancing its role as a diplomatic and economic hub as the capital of Africa is attracting many international conferences as the city is actively promoting conference tourism.

Commenting on Ethiopia’s impressive Green Legacy Initiative, Ambassador Sargsyan noted that it is very important that the government is taking climate action.

Ethiopia has planted 48 billion tree seedlings over the past six years through its Green Legacy initiative, which has significantly impacted on ecosystem restoration and food security.

The initiative, launched in 2019 by Prime Minister Abiy Ahmed, is recognized internationally as best practice in sustainable forest development and protection.

Some 98 percent of Ethiopia’s energy is generated from renewable resources such as wind,  solar, and hydro.The recently inaugurated GERD alone generates over 5,000 megawatts of clean energy.

The nation’s green transition represents one of the most visible and impactful demonstrations of its climate strategy.