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.

Ethiopian Investment Commission (EIC) has launched an online service platform where investors can apply for new investment permit including expansion and business licenses.

Ethiopian Investment Commission (EIC) has launched an online service platform where investors can apply for new investment permit including expansion and business licenses.

The platform aimed at providing efficient and reliable investment for investors regardless of geographical locations, according to EIC.

Addressing the ceremony, EIC Commissioner, Abebe Abebayehu said “The online platform will allow foreign investors to be able to access and register their investments from the comfort of their offices not only that they would also be able to renew their licenses from their offices”.

The platform will also provide services including: request for new investment permit certificate, request for commercial registration certificate, application for expansion of existing investment permit or existing business license, application to renew investment permit and replace the investment permit certificate.

In addition, application for tax holiday incentive support of eligible projects, application for duty-free incentive support qualified projects were among the other services mentioned.

During the occasion, Senior Private Sector Specialist, East Africa, International Finance Corporation, at World Bank Group, Heinz-Wilhelm Strubenhoff said the online platform will help to save time and cost.

Accordingly, the online service will complement the ongoing reforms. “We are happy to invite the whole world to this country,” he noted.

The Chinese language Web-portal also launched today alongside the online service platform.

“We believe this portal will give Chinese companies all the required information to invest in Ethiopia,” EIC Commissioner Abebe stated.

 

Ethiopia will continue exerting efforts for the realization of Agenda 2063 and other African development projects, Foreign Minister Gedu said.

Africa Day was celebrated on May 27/2019 at Ministry of Foreign Affairs, in the presence of Foreign Minister Gedu Andargachew and AU Deputy Chairperson, Kwesi Quartey.

During the occasion, Foreign Minister Gedu said Ethiopia will continue with its effort for the realization of Agenda 2063 and other related projects as it stood firmly for the African people.

The minister also noted that Ethiopia has been playing a big role in creating peace and stability in the region.

He further stated that the country has signed African Continental Free Trade Area (AfCFTA) agreement and been issuing visa on arrival for fellow Africans in its efforts for integrating Africa.

Appreciating the magnificent gathering to celebrate Africa Day at the Ministry of Foreign Affairs Hall, AU Deputy Chairperson Kwesi Quartey said Ethiopia has been a host country for African Union for more than half a century.

He stated that Ethiopia has stood for African independence, dignity and self-respect since the establishment of the Organization of African Unity.

The ambitions and the dreams of Emperor Haileselassie of Ethiopia and Kwame Nkrumah of Ghana towards an integrated Africa has come to be true as there are developments like visa on arrival and the agreement on establishing common market for Africans.

African Continental Free Trade Area (AfCFTA) is a market for 1.2 billion African people having tremendous potential for social and economic integration of Africa. It promotes African trade and enhances competitiveness, he pointed out.

Africa Day is a tribute to the achievements made by African leaders 56 years ago to decolonize the continent and pave the way for a greater Africa on the global stage.

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In his remarks during the High Level Meeting at the Belt and Road Forum, Prime Minister Abiy Ahmed highlighted the role the Addis Ababa - Djibouti railway is playing in facilitating trade between the two countries; testament to the connectivity principle of the Belt and Road Initiative.

Sharing the investment-led economic policy and reforms being undertaken, he encouraged more investors to participate in the newly opened up sectors.

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The Embassy of the FDRE to #Canada expresses its deep condolences with the passing of former President of #Ethiopia H.E. Dr. Negaso Gidada. The Embassy wishes strength and comfort to his family, relatives and the People of #Ethiopia.

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Prime Minister Abiy Ahmed and his delegation visited the headquarters of the e-commerce giant Alibaba Group , in #Hangzhou, #China  on April 25/2019.

Following up on their meeting earlier this year in Davos, Switzerland, Prime Minister Abiy Ahmed and Alibaba Group Chairman Jack Ma shared that this visit is a reflection of a friendship geared towards supporting Ethiopia’s development.

Jack Ma expressed he has been inspired by the reforms that #Ethiopia has been undergoing, confirming that Ethiopia is now a key strategic partner which he will visit this year.

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