Indonesian Investors Assessing Business Opportunities in Ethiopia

Indonesian investors comprising of nine company representatives are in Addis Ababa to make assessments on business opportunities in Ethiopia.

Companies engaged in textile, banking, foot wear, natural gas and oil, IT and aircraft maintenance and repair, among others are part of the delegation.

The company representatives have held business to business discussions with Ethiopian businesspersons during an Indonesia – Ethiopia business forum held on Monday in Addis Ababa.

Jerusalem Amdemariam, Director General of Business Diplomacy at the Ministry of Foreign Affairs said that the business forum will provide an opportunity on how to strengthen economic ties between the two countries.

She invited the business delegations to invest in areas that the country has prioritized including, manufacturing, agro-processing, horticulture and mining.

“We are constantly improving the business environment by focusing on infrastructure development; such as roads, electricity, railways, industrial parks to encourage the private sector to engage in  eco-friendly development programs in the country”, Jerusalem said.

She stressed that the political and macro-economic stability, sound economic policies, abundant natural resources, affordable and trainable labor force, cheap energy and its proximity to global market are few that makes Ethiopia one of the best investment destination.

President of Ethiopian Chamber of Commerce and Sectoral Associations, Solomon Afework on his part said significant progress in trade was registered in the past few years between the two countries.

The total trade volume between the two countries has reached 423.9 million USD in 2015 from 87.3 million USD in 2006, increasing by 385 percent, he added.

He said “Such events are an important tool to gear towards creating a dynamic private sector within the two sisterly countries whose joint effort will bring about continuous development of economic relations.”

Ambassador of Indonesia to Ethiopia, Imam Santoso on his part said, “We highly consider Ethiopia as one of the rapidly developing country in Africa with lots of potentials.”

Noting that Indonesia wishes to have a preferential tariff agreement with Ethiopia, the ambassador expressed belief that the trade relations between the two countries will see an increase in the near future.

Recalling that four Indonesian companies of garment, instant noodles and soap are operating in Ethiopia, Santoso said that two more companies will set up their investment in the near future.

source ena