State Minister of Foreign Affairs Dawano Kedir said that Ethiopia is open to Foreign Direct Investment (FDI) during a visit by a South African business delegation.

From policy framework to resource potential, from cheap labor to adequate infrastructure including power supply, Ethiopia has conductive investment climate both for local or foreign investors, says Dawano briefing South African businessmen delegation here yesterday.

“Ethiopia is one the fastest growing economies in Africa that the government is highly committed in every aspect to keep the momentum one of which is allowing the FDI. So, we are glad to welcome the South African businessmen to invest in Ethiopia in area of their preference recognizing that South Africa is well developed country in Africa and we also need to maintain the two countries’ relations,” the State Minister said.

Aveng Manufacturing Managing Director Solly Letsoalo said the major interest of the Aveng Group in Ethiopia is to construct and repair railway lines and also supply equipment. 

“Aveng Group has over 100 years experience in the construction and manufacturing industry. It has been engaged in various construction-roads, airports, railways and more in Africa and beyond. For instance, we built a 300 kms railway line in Australia,” he said.

He also said the delegation has learned that Ethiopia is open to foreign investors. The team held talks with officials of the Minister of Agriculture, Transport as well as Investment Agency and received helpful information from all and will be back soon for the business.

It is to be recalled that the recent Ethio-South Africa Forum here discussed strengthening business ties.

Source: The Ethiopian Herald