Ethiopia offers opportunities for Bangladesh investments to expand in special economic zones

Addis Ababa, December 12, 2024 (FMC) – Ethiopia’s Special Economic Zones (SEZs) are poised to attract more investors from Bangladesh, thanks to the country’s ongoing macroeconomic reforms, said Fisseha Yitagesu (PhD), CEO of Industrial Parks Development Corporation.

Fisseha made the statement during a meeting with Bangladesh’s Ambassador to Ethiopia, Sikder Bodiruzzaman, at the embassy premises yesterday. The discussion aimed to enhance the involvement of Bangladeshi investors in Ethiopia’s SEZs, particularly in sectors like apparel, garment, and pharmaceuticals.

The CEO noted that while Bangladesh has made significant progress in these sectors, there is room for growth. He emphasized that the country’s SEZs offer a conducive policy environment, world-class infrastructure, and a young workforce, making them an attractive destination for investors. Additionally, Ethiopia’s strategic location provides access to Africa’s markets, as well as proximity to Europe and the Middle East.

Ambassador Bodiruzzaman expressed his commitment to strengthening bilateral relations and highlighted the importance of business diplomacy in building diplomatic ties. He also outlined Bangladesh’s achievements in the apparel, garment, pharmaceutical, and medicine sectors and expressed his country’s willingness to collaborate with Ethiopia.

The Ambassador suggested establishing a forum to educate investors about Ethiopia’s potential in the pharmaceutical sector, beyond garments and apparel. The meeting marked an important step towards fostering greater economic cooperation between the two countries.