The Ethio-Saudi Business Forum has been held in the Ethiopian capital Addis Ababa today.
The Forum which aims to attract foreign direct investment (FDI) and promote business networking was attended by high level Ethiopian and Saudi officials as well as more than 150 business persons,
The Saudi Arabian Government and business delegation led by Minister of State for African Affairs Ahmed bin Abdul Aziz Qattan arrived in Addis Ababa on Sunday.
In his opening remarks, Dr Aklilu Hailemichael, Ethiopia’s State Minister of Foreign Affairs, said such kinds of events are necessary to further cement the age-long and historical ties between the peoples of the two countries.
Stating that Ethiopia has attached great attention to FDI, he said, close to 229 Saudi investors are currently engaged in investment in the nation, adding more works need to be done to increase the trade balance between the two countries, which currently stands in favor of Saudi.
The State Minister further invited more Saudi investors to investment in sectors which the Government has given priority, such as agriculture, agro-processing, tourism, mineral exploration and ICT.
Ahmed bin Abdul Aziz Qattan said Saudi Arabia is now ready more than ever before to further strengthen its historical, cultural and social relations with Ethiopia.
The reform being undertaken by Prime Minister Dr Abiy Ahmed would help attract more investors from Saudi Arabia, he added.
During the forum, the delegation was briefed about Ethiopia’s immense business and investment opportunities.