Forum inspires Singaporean businesses to invest in Ethiopia

The Ethio-Singaporean business forum being held in Addis Ababa will inspire investors to look Ethiopia as a potential investment, business and tourism destination, the country’s senior official said.

Singaporean businesspersons and company representatives drawn from the hospitality industry, health, education, manufacturing, agriculture, and commodity trade are in Ethiopia to explore investment opportunities in the country.

At the opening of the forum, Singaporean Senior Minister of State, Ministry of Defense & Ministry of Foreign Affairs, Mohamad Malik Bin Osman lauded Ethiopia’s potential, saying it is a country with immense investment potential.

This creates a good opportunity to Singaporean investors to engage in the country, he said.

The trade exchange between Ethiopia and Singapore has reached 24 million USD in 2015, but it needs to be further expanded, he said.

The bilateral ties are expected to strengthen with the launching of a direct flight to Singapore by Ethiopian Airlines, he added.

Ethiopian Investment Commissioner Fistum Arega briefed the businesspersons about the investment and business potential of the country, urging them to utilize the opportunities.

Source: ENA