South African companies keen to invest in Ethiopia
South African investors and representatives of companies have expressed their readiness to invest in Ethiopia and do business with.
A South African business delegation comprising 22 investors and representatives of companies are currently in Ethiopia to explore investment potentials and opportunities in the country, particularly in manufacturing, agro-processing, energy and construction sectors.
State Minister for Foreign Affairs, Dr. Aklilu Hailemichael met with the South African Business Delegation on Monday (March 6, 2017) and briefed them on investment prospects in Ethiopia.
Dr. Aklilu underscored that the delegation's current move will promote Ethiopia's aspiration to boost the intra Africa trade and enhance south-south cooperation.
He said, "Ethiopia attracts investors from China and Turkey as well as the US and Europe; nevertheless we would like to also promote south-south economic cooperation between African countries."
Touching upon the huge investment potentials in Ethiopia, the State Minister said, "Ethiopia's geographic location, its active membership in regional and bilateral trade agreements, including various other platforms with the U.S, EU and COMESA region, and the favorable investment policies make it an attractive investment destination."
Ethiopia's young and productive work force which accounts for 60 percent of the population also offers significant comparative advantages to investors, he added.
The Executive Committee of the EPRDF announced that it has accepted the request of Prime Minister Hailemariam Desalegn to resign as premier and chairman of the party.
In his presser, Shiferaw Shigute, Head of the Office of the EPRDF Council said the Committee has accepted the request after a thorough discussion on the issue.
Prime Minister Hailemariam has announced his desire to resign from the posts of the premiership and party chairmanship this afternoon.
This makes Hailemariam the first premier and party chairperson in the country to submit letter of resignation.
Though the Committee accepted the Premier's request, Hailemariam will stay in office until the EPRDF Council and the parliament approved it, Shiferaw said.
Shiferaw assured that the request of the Prime Minister to resign from both posts doesn’t have any implication on the party and the government.
Prime Minister Hailemariam Desalegn announced that he has submitted his letter of resignation as prime minister and chairman of the ruling party EPRDF.
He said that he decided to resign from both posts so as to contribute to the ongoing efforts towards bringing solution to the current situation in the country.
The Premier noted in his speech that people have been displaced and injured, as well as investment and properties are damaged due to the recent unrest.
Hailemariam believes that his resignation is important to carry out reforms that lead to sustainable peace and democracy.
The Council of Ministers has declared a state of emergency effective from 16 February 2018 by adopting the decree providing for the emergency ruling.
The Council of Ministers said the emergency rule is aimed at protecting the constitution and constitutional order, as well as ensuring security and stability of the country.
Protecting freedom of movement and the rights of citizens to live wherever they choose as well as build assets, are also among the motives for the ruling.
The Council in its press briefing noted that the violence that have been going on in some areas are undermining the security and stability of the country as well as the value of the people that promote peaceful coexistence.
The violent activities have also led to ethnic based attacks which led to the displacement, death and injury of people, damage on property, and hindered investment.
These violent activities are hurting the economy and put the peaceful and free movement of citizens under question.
The Council said it is important to adopt the decree, as the public has requested the government for protection and the dangerous activities have continued to expand and extend in time.
The Ethiopian constitution under article 93 provides the power for the Council of Ministers to decree a state of emergency in case of external invasion, a breakdown of law and order which endangers constitutional order, natural disaster or an epidemic occur.
Ethiopia’s achievement in the economic sector has contributed to its growing influence in the diplomatic sphere, according to Ethiopian Foreign Relations Strategic Studies Research Institute.
It has been 15 years since the country devised Foreign Affairs and National Security Policy that creates favorable condition for rapid economic development and the establishment of a democratic system.
The policy also indicates that economic diplomacy is the key goal in its relationship with every country.
Ethiopian Foreign Relations Strategic Studies Research Institute Deputy Manager, Moges Teklemikael told ENA that the economic integration Ethiopia has created with many countries helped it to register rapid growth.
Moges, who noted that the main cause of Ethiopia’s vulnerability was poverty, added that the steady decline of this has resulted in making the country more influential and impacter.
At this time, “nations want Ethiopia for mutual dialogue”; and this shows the strength it has created in the diplomatic sphere, he stated.
Ethiopia’s emergence as the leading country in attracting foreign direct investment also shows the effectiveness of its economic diplomacy.
However, the government has to find lasting solution for the conflicts in some parts of the country as they expose it to security risk and decline in economic diplomacy, the Deputy Manager stressed.
Foreign Ministry Spokesperson, Meles Alem said on his part “it is impossible to be successful in the diplomatic sphere with a weak economy.”
He added that the country transforms the political relations it creates with countries to mutually beneficial economic prosperity.
According to him, internally instigated vulnerability has been curtailed through the effort exerted to fight poverty and to create trust among citizens.
This has also helped in making the country to live peacefully in the turbulent Horn of Africa, Meles pointed out.
The Spokesperson cited a United Nations report which credits Ethiopia for playing a leading role in promoting peace in other countries.
A recent World Bank report also indicated that Ethiopia is the second country behind Vietnam in attracting foreign direct investment.
The Ethiopian Cargo and Logistics Services has received the Export & Import Cargo Transportation Award in China on February 7, 2018.
Ethiopian Cargo and Logistics Services, Africa’s largest cargo operator, received the award at a Customers Symposium organized by Guangzhou Bayiun International Airport,
The Ethiopian Airlines told ENA that top 10 international cargo carriers, domestic cargo carriers and cargo agents took part in the symposium.
Tewolde GebreMariam, Group CEO of Ethiopian Airlines, said “As one of the strategic business units under the Ethiopian Airlines Group, Ethiopian Cargo & Logistics Services has been registering remarkable growth and success in implementing our ambitious strategic road map, Vision 2025.”
He said “It is playing a leading role in supporting China – Africa investment and trade ties by availing critical air connectivity.”
With state of the art cargo terminals in its main hub in Addis Ababa, it is capable of accommodating one million tons annually.
Ethiopian Cargo and Logistics Services has eight dedicated freighters with another four on order.
Currently, it flies to 44 global freighter destinations globally covering five continents and is supporting the import-export of the continent.
Ethiopian has 13% share of the total international cargo transportation at Bayiun International Airport, according to the Ethiopian Airlines.