Ethiopia: Ethio-Israeli Investment Conference Scheduled for Monday

A high profile Ethio-Israeli investment conference is planned to take place in Tel Aviv by the coming Monday. The conference is organized by the Ethiopian Embassy in Israel and it is going to take place at Dan Panorama Hotel.

Presentations are expected to be made to the Israeli investors in order to show them the investment
opportunities in Ethiopia. Fitsum Arega, the Director General of the newly restructured Ethiopian Investment Agency and Zemedeneh Negatu, the Managing Partner of Ernst & Young, Ethiopia are among the presenters.

In the recent times there are several announcements made by Israelis to investing in Ethiopia. Among this is Israel Chemicals, a company that has already invested in Allana Potash and is now planning to invest in a fertilizer processing plant.

The Reporter wrote an information acquired from the Ethiopian government reveals there are more than 100 Israeli companies operating in Ethiopia. The recent announcement about an Israeli company investing in Ethiopia is the one about Eshet Engineering Ltd. Eshet signed a Memorandum of Understanding with the Ministry of Industry to set up an industrial zone in Kombolcha with a
joint venture with the Ministry. The zone is going to be constructed on 1000 hectares of land and it is estimated to cost 200 Million US Dollars.

According to The Reporter the Tel Aviv conference is part of a broad strategy by the Ethiopian government to attract Foreign Direct Investment (FDI) from diversified sources.Ethiopian senior officials, including the Premier and the Foreign Affairs Minister along with private sector representatives had organized investment conferences in different places of the world.

According to Ernst & Young’s data one Billion US Dollars has flown to Ethiopia in the last year as an FDI. The data speculates this figure will grow to 1.5 Billion US Dollars for each of the coming three years.

Source: The Reporter