imported 2024-03-17 17:43:06
Fitsum Arega, Director General of Ethiopian Investment Agency
Ethiopian Investment Agency confirms horticulture (flowers), agriculture and manufacturing (textiles, leather) attract majority of FDI flows into Ethiopia. The Agency is currently working hard to transform itself into a one-stop investment center for investors.
Seven billion dollars was invested in the city of Erbil in the last eight years. The effect of this investment can be seen in the infrastructure and construction of the city. Furthermore, about 65% of an $18 billion investment to support the private sector was spent on Erbil.
Getachew Regassa, Secretary General of Addis Ababa Chamber of Commerce and Sectoral Associations
“Ethiopia has shown serious growth in the last 10 years. Just last year we had a 9.7% GDP growth. There is also a lot of development of infrastructure going on and a vibrant business interaction in the city. The results of the economic growth that we are seeing are stimulating the business, trade and service industry,” notes Mr Getachew Regassa.
$25 billion had been spent on the development of the Erbil governorate in between 2004 and 2012, resulting in profound changes in different sectors, including construction and infrastructure, which predisposed Erbil to become an important trade center not only for Iraqi Kurdistan but for all of Iraq; thus becoming, for some, the economic capital of Iraq. Accommodating 37 nationalities and 27 consulates, Erbil boasts with an unemployment rate of about 5% and was named the tourism capital of 2014.
Prince Charles Dedjoe, Executive Chairman of Chadeco Group, talks about the current position of his company, saying that his strategy is to find a partner or investor. He also talks about opening his own bank, Chadeco Bank.
Top Investment Institutions in Ethiopia
Addis Ababa Chamber of Commerce and Sectoral Associations
Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) is one of the well-organized institutions that in one way or another work on promoting the investments and improving the overall investment climate in Ethiopia.
Ethiopian Privatization Agency
This Agency is an autonomous government office which is entrusted with the tasks of privatizing, supervising, guiding, supporting and controlling state-owned enterprises to render them competitive and profitable and thereby enabling them to play significant roles in the implementation of the country’s Growth and development Strategy.
Ethiopian Investment Agency (EIA)
The Ethiopian Investment Agency (EIA) is a government agency established in 1992 to promote private investment, primarily foreign direct investment. The overall activities of the Agency is supervised and followed up by an Investment Board, which is chaired by the Minister of Industry. The EIA is headed by a director general who is also a member of the Board and two deputy director generals.
Mr. John Taylor talks about the oil industry in Ghana and presents Cirrus Oil Services, a wholly Ghanaian owned company, licensed as a bulk oil distributor in 2007. Cirrus has become a market leader in the storage and distribution of premium petroleum products in Ghana, such as Gasoil, Gasoline and Aviation Fuel.
Felix Nyarko-Pong, Chief Executive Officer of uniBank, talks about the growing economy of Ghana and invites investors to come and look at the opportunities. Mr. Nyarko-Pong also emphasizes on the fact that Ghana has the financial services to meet all their requirements.
Mike Nyinaku, CEO of the Beige Group, presents his company, an investment firm that operates businesses across different sectors of the economy, such as banking, finance, hospitality, mining, real estate and logistics.
With the changes in population growth, the discovery and exploitation of oil in commercial quantities, huge economic growth, the prospects and their attendant effects on FDIs and tourists arrivals in Ghana, the real estate sector is now a new area to invest in.
