Dialogue promotes business, investment opportunities between Ethiopia, US

Addis Ababa, October 21, 2020 (FBC) –The U.S.-Ethiopia Investment Dialogue took place yesterday with a focus on promoting opportunities for business and investment to grow between the two countries.

The dialogue was organized in partnership with the Corporate Council on Africa (CCA) and featured high-level speakers including Dr. Eyob Tekalign, State Minister of Finance of Ethiopia, Fitsum Arega, Ethiopian Ambassador to the U.S., and Florie Liser, President and CEO, CCA.

Dr. Eyob, in his opening remark, focused on informing business people in the U.S about the benefits of the economic reform taking place in Ethiopia.

In particular, he emphasized how economic reform measures being taken are critical in improving the business environment leading to an increase in the private sector’s role in the economy.

The State Minister explained how the reform measures being taken have been critical in making significant improvements in investment laws and business climate.

Dr. Eyob said “The investment reforms we have taken have been encouraging to the private sector development as measures have helped remove regulatory obstacles, which in the past have hampered investment. These reforms have attracted foreign direct investment as the climate for business opportunities was greatly enhanced particularly in sectors such as agro-processing, horticulture, textile, and leather industries among others”.

The State Minister also explained about telecoms reforms, logistics progress made in establishing the stock market, the PPE framework, and how the current changes in currency is contributing to bringing most of the unbanked sectors of the society as well as increasing the bank’s security in the country.

He also encouraged the diaspora to engage in the growth of Ethiopia.

Over 100 people participated in the dialogue including representatives from Bechtel, Boeing, Caterpillar, Citi, P&G, Coca-Cola, Medtronic, Nestlé, Stanbic, and Bayer.