Israel Investors eyes on EthiopiaEthiopia’s Economic Reform Catches Israeli Investors Attention, Says Ambassador Raphael Morav

The ongoing economic reform measures in Ethiopia have attracted the attention of Israeli investors, according to Israel’s Ambassador to Ethiopia.

Speaking at a webinar jointly organized by Ethiopia’s Embassy in Israel and Israel-Africa Chamber of Commerce yesterday, Ambassador Raphael Morav said Israel supports the ongoing economic reform.

The ambassador, who noted that Ethiopia has enormous investment potentials, stated that the country has been taking economic reform measures during the last two and half years in order to create a conducive environment for foreign investors.

Foreign Affairs State Minister, Tsion Teklu said the government has been taking political and economic reform measures to help freedom and prosperity flourish and to create all-inclusive private sector-led economic development in the country.

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Huawei eyes Ethiopia growth as Telecoms Industry opens upHuawei Technologies Corp. is positioning itself to get more business in Ethiopia, as the East African economy opens up its telecommunications sector.

“Ethiopia is rising and becoming much more important for the future,” Loise Tamalgo, Huawei’s head of public relations for 22 countries in sub-Saharan Africa, said in an interview in Ivory Coast’s commercial capital, Abidjan. The company is likely to move a regional office covering about five nations from the Democratic Republic Congo to Ethiopia, where it currently only has a country office, he said.

Liberalization of the telecom industry is at the forefront of what Ethiopian Prime Minister Abiy Ahmed said in 2018 would be a wide-ranging privatization program. The plan was intended to bring in much needed foreign exchange and boost the economy while improving connectivity across the Horn of Africa nation.

The country is seeking to double its mobile towers to about 14,000, which would require an investment of up to $1.1 billion, and build out its fiber-optic network from less than 30,000 kilometers (18,600 miles) currently, according to the Ethiopian Communications Authority. It also plans to sell a 40% stake in Ethio Telecom and issue two new telecom licenses next year.

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Lamu Port enhances regional integration efforts PremierLamu Port has a great potential to enhance the economic integration of East African Countries through boosting business, investment, and trade linkages among the countries, Prime Minister Abiy Ahmed (Ph.D.) said. The premier made the remark while paying an official visit to the port accompanied by Kenyan President Uhuru Kenyatta visited Lamu Port yesterday.

On the occasion, he underscored that the completion of the port will realize to ensure the development vision of the region and improve the lives of our citizens. ‘‘The commitment to link the region should sustain and it will be fruitful if leaders of the countries work through investing in infrastructures especially on logistic.” 

He reflected that the port is very helpful for Ethiopia to export our products and import some basic products. As to him, the port is also helpful for South Sudan. Beyond integrating the East African Countries, the port has the potential to connect other regions, he added.

He argued at the event that the connectivity road between Addis Ababa to Nairobi is great throughout the region, Africa Business Networking reported quoting The Ethiopian Herald. 

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Commissioner Briefs Europeans on Conducive Investment Options in EthiopiaInvestment Commissioner Lelise Neme briefed dozens of investors from European countries and representatives of EU organizations about the conducive investment opportunities in the country.

In her welcoming remark, the commissioner said investment policy reforms undertaken since 2018 focused on creating a conducive environment for attracting Foreign Direct Investment in priority sectors.

The modernization of Ethiopia’s investment regime, the ongoing efforts to create a user-friendly investment environment by improving ease of doing business, and the decision to privatize state-owned enterprises are the most important reform measures undertaken in 2019, according to the commissioner.

The approval of a new investment proclamation in January 2020 signals the country’s major shift in investment policy, she further noted.

“The new proclamation has opened sectors and activities that were previously closed for foreign investors,” Lelise said, adding that it eased investors to identify allowed areas of investment and introduced a transparent dispute settlement mechanism.

The HomeGrown Economic Reform has also created favorable conditions for Foreign Direct Investment (FDI) in Ethiopia.

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Ambassador to Ethiopia and Djibouti“Ethiopia has lots of investment opportunities in various sectors,” H.E Ambassador Francois Dumount, Ambassador to Ethiopia and Djibouti and Permanent Representative to African Union, IGAD and UNECA said.

The Ambassador made this remark during the meeting with EIC Commissioner on retaining and attracting more Belgian investors to the nation.   

EIC Commissioner said for her part the government of Ethiopian encourages and committed to provide all the necessary support to Belgian investors.

Belgian are mainly engaged in horticulture and other sectors which plays significant role to enhance the export

Source: EIC Public Relation Directorate