German Companies Assessing Investment Opportunities in Ethiopia

A consultative forum that aims at engaging German giant companies to massively invest in Ethiopia was held online.

The forum was organized by the German-African Business Association in collaboration with the Ministry of Foreign Affairs and the Ethiopian Embassy in Germany, and was attended by more than 50 Germany companies, according to Spokesperson Office of the Ministry of Foreign Affairs.

Addressing the forum, Foreign Affairs State Minister Ambassador Redwan Hussein said Germany has a long-standing friendship with Ethiopia and needs to further boost the ties in business and investment sectors too.

Praising the government of Germany for its efforts being made to encourage investors to invest in Africa, he stressed the need to further facilitate ways for companies to commence investment activities in Ethiopia.

Citing that the government`s policy reforms in the sector and other opportunities to attract foreign direct investment (FDI), he said such moves will be critical for the inclusive growth of FDI in the nation.

During the occasion, the participants were briefed about Ethiopia’s investment opportunities, trade law and related issues, it was indicated.

Director General of the German-African Business Association, Claudia Voss for her part expressed hope that companies in Germany will take advantage of the investment opportunity in Ethiopia.

The German-African Business Association is a foreign trade association representing companies and institutions active in Africa or wanting to become active on the African continent.

It has Europe´s largest Africa-focused business network.

Source: Ethiopia News Agency