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.

Italian Prime Minister Giuseppe Conte has arrived Addis Ababa on October 11, 2018 for a two-day official visit to Ethiopia, according to Office of the Prime Minister.

Upon his arrival at Bole International Airport, Prime Minister Conte was warmly welcome by his Ethiopian counterpart Prime Minister Abiy Ahmed.

The premiers and other high level government officials are expected to hold bilateral discussions, it was learned.

Prime Minister Giuseppe Conte will next visit Eritrea to confer with President Isaias Afwerki, according to sources.

Conte’s mission is part of a concerted support for the peace deal signed between Ethiopia and Eritrea last July after nearly 20 years of stalemate.

It is to be recalled that former Italy President Sergio Mattarella visited Addis Ababa in 2016.

 

Turkish President Recep Tayyip Erdogan said his country will undertake activities that would help to further expand its investment in Ethiopia.

President Mulatu Teshome and his Turkish counterpart Recep Tayyip Erdogan have discussed about the all-round relationship between the two countries.

During the discussion, President Erdogan said that the country has been carrying out activities that enable to strengthen its trade and investment ties with Ethiopia.

This will be created a situation whereby new Turkish companies and investors will channel their capital to Ethiopia, he revealed.

He also said that the engagement of Turkish companies in Ethiopia would help accelerate the country’s journey to industrialization further enabling to benchmark technologies and other experiences.

President Mulatu said on his part Ethiopia will continue working in strengthening its strategic relationship with Turkey, according to Office of the President.

Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) and the Tunisian Chamber of Commerce and Industry held business-to-business meeting in Addis Ababa.

The Tunisian delegation comprised of high officials and representatives of 40 companies engaged in agro-processing and industry.

Tunisian Chamber President, Nejib Mell said the delegation came to explore the scope of partnership in trade and investment.

The companies are interested in finding partners which would intensify the economic cooperation between the two countries, he added.

AACCSA Deputy Secretary General, Shibeshi Bettemariam said on his part Ethiopia has a great place for prospective business partners and investors.

He called into attention the booming construction, infrastructure, agro-processing and manufacturing sectors as well as the lucrative incentives such as 5 year tax holiday, cheap electricity and labor as attractive opportunities.

Representative of the Tunisian Andalusian White Cement Company, Ahmed Ben Abdullah said the construction boom in Ethiopia has attracted his company to visit the country.

He added that there is no company which produces white cement in Ethiopia.

Representatives of the two chambers have finally signed Memorandum of Understanding that improves business cooperation between the two countries.

Meanwhile, Tunisian Secretary of State for Foreign Trade Hichem Ben Ahmed had earlier hold discussion with Foreign Affairs State Minister Aklilu Hailemichael.

They discussed about the issue of strengthening bilateral relation between the two countries.

Secretary of State Hichem Ben Ahmed said Tunisia wants to strengthen business-to-business relation with Ethiopia.

He added that relation between Ethiopia and Tunisia is historical but their trade exchange is low.

Tunisian businesspersons are interested in investing in edible oil products in Ethiopia and strengthen trade relation, according to Hichem Ben Ahmed.

State Minister Aklilu Hailemichael said on his part that as Ethiopia imports huge amount of edible oil Tunisian investment in edible oil products will help the country to save hard currency.

The country can also benchmark Tunisia’s experiences in education, tourism and industry, he noted.

Ethiopia and Tunisia established diplomatic relations in 1968.

Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) and the Tunisian Chamber of Commerce and Industry held business-to-business meeting in Addis Ababa.

The Tunisian delegation comprised of high officials and representatives of 40 companies engaged in agro-processing and industry.

Tunisian Chamber President, Nejib Mell said the delegation came to explore the scope of partnership in trade and investment.

The companies are interested in finding partners which would intensify the economic cooperation between the two countries, he added.

AACCSA Deputy Secretary General, Shibeshi Bettemariam said on his part Ethiopia has a great place for prospective business partners and investors.

He called into attention the booming construction, infrastructure, agro-processing and manufacturing sectors as well as the lucrative incentives such as 5 year tax holiday, cheap electricity and labor as attractive opportunities.

Representative of the Tunisian Andalusian White Cement Company, Ahmed Ben Abdullah said the construction boom in Ethiopia has attracted his company to visit the country.

He added that there is no company which produces white cement in Ethiopia.

Representatives of the two chambers have finally signed Memorandum of Understanding that improves business cooperation between the two countries.

Meanwhile, Tunisian Secretary of State for Foreign Trade Hichem Ben Ahmed had earlier hold discussion with Foreign Affairs State Minister Aklilu Hailemichael.

They discussed about the issue of strengthening bilateral relation between the two countries.

Secretary of State Hichem Ben Ahmed said Tunisia wants to strengthen business-to-business relation with Ethiopia.

He added that relation between Ethiopia and Tunisia is historical but their trade exchange is low.

Tunisian businesspersons are interested in investing in edible oil products in Ethiopia and strengthen trade relation, according to Hichem Ben Ahmed.

State Minister Aklilu Hailemichael said on his part that as Ethiopia imports huge amount of edible oil Tunisian investment in edible oil products will help the country to save hard currency.

The country can also benchmark Tunisia’s experiences in education, tourism and industry, he noted.

Ethiopia and Tunisia established diplomatic relations in 1968.

President Mulatu Teshome left for a two-day official visit to Turkey.

The president was invited by Turkish President Recep Tayyip Erdogan and is expected to attend the Africa-Turkey Second Economic and Business Forum that will take place in Istanbul, according to Ministry of Foreign Affairs.

During his stay, the president is also expected to discuss trade, investment and other bilateral issues with senior Turkish officials and managers of big companies.

The forum will create opportunity for Turkish investors to expand and consolidate their investment in Africa, it was indicated.

African Union Chairperson President Paul Kagame and AU Commission Chairperson Moussa Faki Mahamat are also expected to attend the forum.

Turkey is among the leading countries in the number of investments in Ethiopia.

The motto of the forum jointly organized by the African Union Commission and Turkish Ministry of Commerce and DEiK is “Building a sustainable future together through investments and joint ventures.”

The Forum will be addressing the following four sub-themes: Infrastructure, Construction, Manufacturing, Tourism and Fashion.

The Africa-Turkey Second Economic and Business Forum is expected to attract over 3000.

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