Ethiopia’s sea access crucial to attract foreign direct investment: Experts

Addis Ababa, January 3, 2024 (FBC) – Ethiopia’s access to the sea has a paramount significance in attracting foreign direct investments to the country, experts of various fields approached by FBC said.

A researcher and lecturer at the Department of Economics of Addis Ababa University, Dugassa Mulugeta (PhD), said that the MoU Ethiopia signed with Somaliland propels regional development and addresses the issues affecting nations’ presence within a the international market.

Befikadu Daba, a Political Science and International Relations expert, explained that the historic agreement with Somaliland enables Ethiopia to attract more foreign direct investments.

Professor Brook Hailu, a former diplomat, for his part, pointed out that the agreement enables countries to work together for shared development based on a win-win approach in the context of the global power dynamics.

The MoU signed between Ethiopia and Somaliland helps accelerates regional economic integration, Professor Brook noted.

A researcher at African Studies Center, Nigatu Abebe (PhD), highlighted the significance of the MoU in enhancing regional integration in economic and military spheres, among others.

The scholars told FBC that the historic MoU between Ethiopia and Somaliland is crucial to ensure shared prosperity and lasting peace in the region.