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.

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