A Singapore business delegation visited Ethiopia to explore investment opportunities in the country. At a press conference held on Tuesday, the business delegation discussed investment opportunities with the Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA).

“We haven’t exactly pinpointed specific areas where we will have investment agreements, but there are companies willing to invest in the areas the Ethiopian government is promoting such as Agro-processing and others,” said Mulu Solomon, President of ECCSA.

The business delegation is from International Enterprise Singapore, a government agency that follows growth of overseas investments of Singapore-based companies.

The leader of the delegation, Rahul Ghosh, Division Director of Middle East and Africa Group, stated that Singapore is a thriving trading hub with a complete ecosystem for energy, agri-commodities and metals & minerals trading clusters.

“Besides investments, we can share a lot of experiences with Ethiopia, especially in the urban planning area. Urban planning has been integrated in our development strategies and we have been very successful.  Planning is very important,” said Ghosh.

Ethiopia has USD 15 million worth of trade exchange with Singapore, according to the ECCSA President, this number can significantly grow, if Ethiopia is able to send other exports and not only agriculture produces. “Singapore is a country we can learn so many things from.

International Enterprise Singapore has a global network centers in over 35 locations around the world providing connections for developed and emerging markets.

Source: Capital