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.
Republican Congressman, Chairperson of Africa, Global Health, Global Human Rights, and International Organizations, Christopher Smith and Karen Bass, member of the Global Human Rights have arrived in Addis Ababa on 23rd of August 2018.
During his discussion with the visiting Congress members, Premier Abiy urged U.S. to closely support the current democratic and developmental changes in Ethiopia.
Prime Minister Office Chief of Staff, Fitsum Arega pointed out that both Congress members assured the Premier that they will promote Ethiopia in their return.
Both stated that they have been following the change closely.
Similarly, members of U.S. Congress conferred today with Ethiopian Minster of Foreign Affairs, Workneh Gebeyehu on issues of political reforms and human rights.
Republican Congressman Christopher Smith, who is also head of the delegation, is the author of the House Resolution (HR 128), a bill passed by the Congress, which condemned human rights abuses in Ethiopia.
Vietnamese President Tran Dai Quang arrived on August 23rd 2018 in Addis Ababa for a three-day official visit to Ethiopia.
Upon arrival at Bole international airport, President Tran Dai Quang was accorded a warm welcome by President Mulatu Teshome, senior, Ethiopian officials and religious leaders.
During his stay from August 23-25, 2018 in Ethiopia, President Tran Dai Quang will discuss with President Mulatu Teshome and Prime Minister Abiy Ahmed, and other Ethiopian senior officials.
The president is accompanied by more than 50 Vietnamese businesses delegation engaged in Petroleum, textile, construction, real state, automobile, telecommunication, electricity, manufacturing, logistics, and agri-product sectors.
The delegation expected to attend on Ethio-Vietnam Business Forum jointly organized by Ethiopian Chamber of Commerce and Sector Associations on Friday.
President Quang will also visit Egypt from August 26-29, 2018 after he wraps up his official visit to Ethiopia.
On August 13/2018 the Board of Ethiopian Tourism Organization has announced a minimum of 25 percent discount package and other incentives across the board for the Ethiopian Diaspora staring from August 15 to September 30, 2018.
Board Chairman Fitsum Arega told journalists that the discount is made following a discussion with service providers, stakeholders and concerned bodies to encourage the diaspora to come in the upcoming holiday season.
Ethiopian Airlines, Main Department for Immigration and Nationality Affairs, Association of Hotels, Ethio telcom, and Tour Operators Association are among the many that offered discounts.
Fitsum noted that the season is full of opportune moments that attract the Diaspora to celebrate the holidays with their families and relatives.
The package will further help facilitate the engagement of the Diaspora in development and investment, among others.
The Board Chairman pointed out that preparations are made to provide quality service.
Representative of Tour Operators Association, Yakob Melaku said the association with over 200 tour operators may even provide free service.
He added that exclusive discount package is prepared by professional service providers to attract the diaspora.
Association Addis Ababa Hotel Owner President, Binyam Bisrat said over 118 hotels in the capital city will provide 31.8 percent discount on bed service.
On April 13 August 2018 President Mulatu Teshome said Ethiopia is committed to assist the engagement of Chinese investors in the country’s industrial development.
The president visited today the Eastern Industrial Zone that shelters six factories, including Sansheng Pharmaceutical, East Steel and Huajia Aluminum as well as tissue and shoes factories in the on the outskirts of Addis Ababa.
Mulatu, who noted that the interest and engagement of Chinese companies in Ethiopian industrial sector is growing, said the country is always ready to facilitate the investment environment for the Chinese companies.
More Chinese companies are expressing interest to invest in Ethiopia as the country has resources and market, President Mulatu stated.
According to him, Chinese investment in the industrial sector has initiated fast economic growth and enabled Ethiopia to bring about economic change through high tech manufacturing industries.
Speaking about the Eastern Industrial Zone, the president appreciated the performance of the industries which have been effectively manufacturing various products.
The Eastern Industrial Zone as part of the Chinese based Jiangsu Yongyuan Investment Co. Ltd has attained full capacity.
There is, however, a growing demand for more land from investors and the government of Ethiopia will respond to this as soon as possible, Mulatu stated.
Chinese Ambassador to Ethiopia, Tan Jian said on the occasion China has considered Ethiopia as a model for China-Africa cooperation in which the two countries have been enjoying all-round mutual relationships.
Jian added: “I believe Ethiopia is a very important Africa country; it is the largest economy with a huge population. Therefore, we want to build our relationship with Ethiopia as a model for other African countries.”
China will consolidate its economic cooperation and support Ethiopia to implement the Growth and Transformation Plan that helps it to become a middle income country, Ambassador Jian pointed out.
Eastern Industrial Zone consists of 86 different industries and has created 15,000 jobs.