Thursday, 6 June 2013

Ethiopia: Ethio-Japan Investment Forum Holds in Tokyo

Map of EthiopiaFollowing the successful conclusion of the TICAD V summit, the Ethio-Japan Investment forum was held on Monday in Tokyo, at the headquarters of the Japan External Trade Office (JETRO).

Minister of Foreign Affairs Dr. Tedros Adhanom, in his address, noted that Japan is a strategic partner of Ethiopia. He added that the two countries are enjoying a successful partnership. However, he pointed out that the trade and investment relation between the two countries leaves much to be desired and invited Japanese investors to take part in Ethiopia's dynamic growth.
He said Ethiopia is a country with dynamic economy, a rising income and emerging class, stable with attractive investment incentives. He also raised the one-stop-shop service to investors as crucial factor that eases doing business in Ethiopia. Chairperson of JETRO, Hiroyuki Ishige, explained the support afforded by JETRO to Japanese investors interested in investing in Africa. He announced JETRO's plan to increase its number of offices in Africa to step up its efforts in supporting Japanese businesses in Africa.

Ethiopia's Ambassador to Japan, Markos Tekle remarked that Ethiopia and Japan are enjoying the high level of partnership which he said offers an enabling situation to increase Japanese investment in Ethiopia.

State Minister of Finance and Economic Development Abraham Tekeste briefed the audience, about the overall economy of Ethiopia and on the investment climate of the country. He said, Ethiopia's political stability, sound macroeconomic policies, growing education which is producing huge number of skilled labor, and its more than 85 million population with a growing middle class offers a growing market opportunities and unique opportunities for investment.

Zemedeneh Negatu, Managing Partner of Earnest and Young Ethiopia office also explained investment opportunities in Ethiopia. He said Ethiopia is a country with least business risks in Africa and urged Japanese businesses to invest Ethiopia. He said Japan with $ 460 million investment in Africa is not within top ten countries investing in Africa. He also noted that Japanese businesses can make Ethiopia a hub for the 600 million people market in COMESA. Sinkinesh Ejigu gave a presentation about the mining investment opportunities in Ethiopia. She spoke at length about the functions of the ministry in particular in conducting geological survey and in under writing concessions for mining exploration. She also briefed the audience on mining potential in Ethiopia and exploration activities carried by Ethiopia. Following the seminar, an exhibition of Ethiopian produces including coffee, oilseeds, gemstones handmade Ethiopian cotton dresses was visited by the audience which provided opportunities for business networking. Traditional Ethiopian cuisine was also served to the visitors of the exhibition.

The Forum was organized by JETRO, Wafa Marketing and Promotion- Ethiopian Company engaged in investment promotion- and the Ethiopian Embassy in Japan.

More than 40 Ethiopian business men and officials drawn from different sectoral offices were joined by Japanese businesses, double their number on the event.

Source: Ministry of Foreign Affairs

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