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Thursday, 30 March 2017

Ethiopia is inviting investments in Industrial Parks

The outlook for Ethiopia remains positive, Ethiopian Minister Arkebe Oqubay, Special Advisor to the Prime Minister, has said. The minister was speaking during the ‘Doing Business in Ethiopia Seminar’ that was organised by the Netherlands-African Business Council on behalf of the Ethiopian Embassy in Brussels and the Common Fund for Commodities. The Ethiopian delegation, led by Dr. Oqubay, informed the 70 participants of the seminar about recent developments in the Ethiopia, both economically and socially. Dr. Oqubay recommended Dutch companies to set up enterprises at the Hawassa Industrial Park. “In 2025 we want to be the largest manufacturing hub in Africa. We have to create millions of jobs for our fast-growing population,” said Dr. Oqubay. The minister lauded the recent cooperation between The Netherlands and Ethiopia. “Together with the Dutch, we have built a horticulture sector within ten years,” Mr Oqubay said. “We want to capitalize on this and we are inviting more companies to invest in horticulture in Ethiopia.” ‘Unrest overcome’ The Ethiopian Government is on an international investment drive. Before their visit to The Netherlands, trade delegations visited Hong Kong and the United Kingdom. This drive comes roughly half a year after a period of social unrest that took place in Ethiopia in September and October, during which dissenting groups took to the streets and attacked foreign firms, including six Dutch flower farms. Minister Oqubay gave his view of the situation. “The expectance of the youth is high,” he said, referring to the protestors. Admitting that “democracy is a major challenge,” the minister asked for patience, saying that Western countries have experimented with democracy for hundreds of years, compared to Ethiopia that saw its first constitution only in 1995. “I firmly believe that an unfortunate incident like this won’t happen again,” Dr. Oqubay assured, adding that “the affected farms have received a certain compensation.

Source: Netherlands-African Business Council