EU-Ethiopia Business Forum to Lure European Investors

EU Ethiopia Business Forum to Lure European InvestorsThe Ethiopian government has revealed that the European Union (EU) -Ethiopia Business Forum, which kicked off Tuesday in Brussels, envisaged to lure more European investors to Ethiopia.

The Ethiopian Investment Commissioner Abebe Abebayehu, disclosed that the EU-Ethiopia Business Forum, being held from May 14 to 15 in Brussels, capital of Belgium where the EU headquarters are located, would enhance European investments to the East African country.

"The Forum brings together European investors that have shown interest in investing in Ethiopia," said Commissioner Abebe, describing the huge potential of the Forum in attracting European investors to Ethiopia.

The Commissioner also stressed that Ethiopia's "big market, abundant and competitive labor, huge potential for local sourcing of raw materials" are pull factors for the FDI inflow to the country.

The East African country mainly envisaged to promote and attract European investors in various light-industry, textile, apparel and leather, among others.

There are currently over 300 European companies that are active in Ethiopia, making Europe the second-largest investor in Ethiopia, next to investments from China, it was learned.

The Ethiopian business promotion team is mainly expected to "share first-hand information about Ease of Doing Business and Investing in Ethiopia with some 100 attending European companies and trade-enabling organizations."