Ministry and Global Trade & Finance Inc. agree to boost renewable energy investments in Ethiopia
By Wondesen Aregahegn
Addis Ababa, July 27, 2024 (FBC) – Alemu Sime (PhD), the Minister of Transport and Logistics, and KJ Lee, President of Global Trade & Finance Inc., have signed a partnership agreement aimed at attracting investors focused on vehicle assembly through renewable energy methods to Ethiopia.
Minister Alemu emphasized that the agreement will also facilitate collaborative efforts in developing information technology-based traffic control systems. He pointed out existing gaps in Ethiopia’s transport and logistics sector, highlighting its potential for lucrative investment opportunities.
The government has established a range of incentives designed to foster a conducive environment for foreign investment in this sector, with Alemu expressing his commitment to supporting companies interested in engaging in Ethiopia’s transport and logistics landscape. He noted that the country is rich in human resources and presents favorable investment conditions, making it an increasingly attractive destination for investors.
KJ Lee expressed excitement about partnering with Ethiopia to contribute to job creation and promote the development of a clean, technologically advanced economy. She also committed to providing training to individuals and businesses in the clean energy sector as part of their collaborative efforts.
By Wondesen Aregahegn