Russian companies desirous to invest in Ethiopia 

Addis Ababa, December 20, 2023 (FBC) – Russian companies have expressed keen interest to invest in Ethiopia in various industrial fields.

The Ethiopia-Russia Business Forum held in Addis Ababa on Wednesday with an objective to enhance the economic and trade relations between the two countries.

Deputy Commissioner of the Ethiopian Investment Commission, Daniel Teressa, highlighted the significance of the forum in attracting more Russian investments to Ethiopia.

During the forum, Ethiopian officials briefed members of the Russian business community on the flourishing investment potentials and opportunities in the country.

Ethiopia and Russia have immense potential for trade and investment cooperation, State Minister for Innovation and Technology, Yeshurun Alemayehu said.

“The trade and investment forum is one of the combined efforts to realize our shared vision to advance the betterment of livelihood of the two people,” the state minister added.

Despite the very cordial and historical friendship that Ethiopia and Russia are enjoying, the economic cooperation, particularly trade and investment relations, are not to the expected level, according to Yeshurun.

Yeshurun called on and encouraged Russian investors and companies to explore the huge opportunities and exciting incentives available in Ethiopia in various sectors.

Representatives of the Russian business community, for their part, expressed their keen interest to explore investment opportunities in Ethiopia and join the manufacturing industry sector in the country.

According to the Investment Commission, the Russian companies have presented their project plans to participants of the forum.

The Ethiopian officials reaffirmed government commitment to provide all the necessary support for the Russian companies interested to join the Ethiopian market.