A delegation from Ethiopia consisting of high level government officials and leading business companies held a business summit with US Investors in Los Angeles California.

Among others, High Government officials that attended the summit were; President Dr. Mulatu Teshome, Foreign Minister Dr. Tedros Adhanom and Ambassador Girma Birru. Along the officials, the delegate included over three hundred investors including General Petraeus from the
KKR group and many other leading investment company representatives.

In his opening speech, Girma welcomed and introduced Mulatu to the participants of the summit. The President in his part once again welcomed the attendees and thanked the Los Angeles City Mayor.

Mulatu explained to the attendees he is hopeful the current summit and the opening of US Trade office in Addis Ababa will lure the US private sector to invest in Ethiopia. He further explained the opportunities the nation offers in Agro Industry, Rail Road and Energy sector to mention few.

Ernst & Young Ethiopia’s Zemedeneh Negatu, on his part presented the overall economy of Ethiopia and 10 reasons why investors should invest in this economy. He noted the nation has a population which is second highest in the African Continent and the largest shipping lines along with a modern airline that has a cargo service. He further reminded the participants Ethiopia was recently, for the first time, rated by three large credit rating agencies.

Foreign investors already invested in Ethiopia also shared their positive experience and the challenges they faced. A short video that showed Ethiopia’s rapid development and opportunities was also presented by WAFO, a joint business promotion company owned by Waltainfo
and Radio Fana.

The participants were also assured by Investment Office and Privatization Agency officials about the government’s commitment to work with all investors. They explained the tax holiday options available for investors who chose to invest in key investment sectors.

Source: Aigaforum