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.

United Nations Secretary-General Antonio Guterres met Somalia's President Mohamed Abdullahi Mohamed in Mogadishu on Tuesday (March 7) at the start of what Mr. Guterres called an emergency visit to Somalia to highlight the country's famine crisis. He said: "People are dying. The world must act now to stop this." He added: "We need to make as much noise as possible, conflict, drought, climate change, disease, cholera. The combination is a nightmare." The UN Secretary-General urged international support to provide food and humanitarian aid to Somalia. "This hunger requires a massive response," he said. Welcoming Mr. Guterres, the U.N. chief, Mohamed said: "My first priority is to address this drought crisis and my main priority is to make an appeal to the international community to help us." The UN Secretary-General said he was bringing a message of solidarity to the president, a message of support. They discussed the perilous humanitarian situation in Somalia as well as pressing security issues that would affect the coordination efforts. At a joint press conference, the Secretary-General said: "People are dying, the world must act now to stop this. With the support of the international community, it is possible to avert the famine and save millions of lives. Somalia needs more international aid." The Secretary-General flew to Baidoa for a visit and is expected to visit hospitals and internally displaced people camps on the frontline of the famine. Meanwhile, the head of UN OCH, Stephen O'Brien also arrived in Somalia on Monday (March 6), following visits to Yemen, South Sudan and Kenya to see the drought situation at first hand. 

 

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.

Image may contain: one or more people, crowd and indoor

የታዋቂው አትሌት ሻምበል ምሩጽ ይፍጠር አስክሬን እ.ኤ.አ ዲሴምበር 31 ቀን 2016 ዓ.ም ከቶሮንቶ ተነስቶ ወደ አዲስ አበባ እንደሚሸኝ ታውቋል፡፡የጀግናው አትሌት አስክሬን እሁድ ጃንዋሪ 1 ቀን 2017 ዓ.ም አዲስ አበባ በሚደርስበት ወቅት ተገቢው የክብር አቀባበል የሚደረግለት ይሆናል፡፡

የአትሌቱ ህልፈተ ህይወት ከተሰማበት ወቅት አንስቶ የአትሌቶ ወዳጅ ዘመዶች፣በቶሮንቶ የሚገኙ ኢትዮጵያውያንና ትውልደ ኢትዮጵያውያን፣ የኢትዮጵያ አየር መንገድ  እንዲሁም በካናዳ የኢ.ፌ.ዲ.ሪ ኤምባሲ ተገቢውን ድጋፍና ትብብር በማድረግ አስክሬኑ ወደ ሀገር ቤት በክብር እንዲሸኝ በማድረግ ላይ ይገኛሉ፡፡

German Companies Urged to Engage in Energy, Industrial Parks

National Planning Commission has urged a German business delegation to invest in industrial parks and the energy sector.

Commissioner Yinager Dessie told a 15-person Bavarian business delegation headed by Ulrick K. Rieger that Ethiopia’s “big ambition is to transform the agriculture-led economy to an industry led”.

For this goal to be achieved, he added that the government has provided lots of incentives for companies which engage in the transformation of the sectors.

According to the commissioner, the government has an ambition to construct close to 12 industrial parks that mainly target to promote export.

Elaborating on this point, Yinager said foreign companies can build their own industrial parks or share industrial parks with others. German companies can play major role in this respect, he further stressed.

The government has been working hard to generate energy from hydro, geothermal, and solar sources for the last 10 years, it was indicated.

“In this regard we are working not only to meet our demand but also to supply other African countries with energy”, the commissioner said, adding that Ethiopia is at even this preliminary stage exporting energy to Sudan and Djibouti.

The German companies can engage in the energy sector which has huge potential mainly in solar, wind and hydropower, he noted.

The commissioner assured the delegation that the government is very much responsible about properties of investors. He  emphasized that the country “has guarantees in all areas which really minimize risks of investors.”

Head of the German delegation, Rieger said “Ethiopia is a very good and big country and we will help that your vision comes true.”

“We see many possibilities to work together here”, he noted.

He stated that the companies will engage in areas that could create more jobs for the youth and create entrepreneurs.

German business delegation assessing Ethiopia’s investment potential

A German and Bavarian business delegation headed by Ulrick K. Rieger, deputy head of the department of Internationalization, accompanied by delegates from Bavarian Ministry of Economic Affairs and Media, Energy and Technology is visiting Ethiopia with the aim of assessing the potentials of the country.

The delegation was briefed about the business and investment potentials as well as incentives put in place to luring more companies.

Fitsum Arega, Commissioner of the Ethiopian Investment Commission briefed the delegation stating that, “Ethiopia, with the fastest growing economy, untapped natural resources and  a population of almost 100 million and good access to lucrative domestic and external markets is a desirable investment destination.”

The availability of labor force with minimum wage, vast arable land, livestock and mineral resources are few among the country`s endowments, the Commissioner added.

The business delegation is expected to visit industrial parks the country has been developed as part of the strategy to attract more industries as well as textile and garment, leather, agro processing, chemicals and pharmaceuticals and metal engineering industries, among others.

Regassa Kefale, State Minister of Foreign Affairs on his part said that the nation is engaged in development of infrastructure so as to facilitate the situation for structural transformation.

“We have set-out important strategic goals that geared towards structural transformation in the economy focusing on industrialization. Light manufacturing industries will play a key role in this regard. This is a country with a huge comparative advantage on the development of massive agriculture resources cheap and trainable labor,” he added.

Exemption from customs duties and two to ten years of exemption from income tax for investments on priority areas are some of the incentives.

Investors also enjoy the preferential trade opportunities with the US and EU, he added.

Ulrich K. Rieger head of the delegation said, “Now the members of this delegation are 20, but I think next time it will be more. In Bavaria 130 companies are interested to do business in Ethiopia.’’

The main reason they chose Ethiopia as a preferable investment destination is because of potential investment opportunities in energy, waste management and installations of power plants, he added.

Evidences shows that, over 144 German based companies have been set up in Ethiopia, of which 77 have already embarked on investment undertakings amounting to 150 million USD, while the rest are on pre-implementation stage.

Page 5 of 138

Embassy's Address

 Embassy Address:

1501-275 Slater Street, Ottawa Ontario
K1P 5H9 Canada 

Tel (613) 565 6637 / Fax (613) 565 9175

 Email: info@ethioembassycanada.org  

For consular services

Email: consular@ethioembassycanada.org

Copy right ©2014 - Embassy of the Federal Democratic Republic of Ethiopia, Ottawa, Canadan