UK Desirous to Increase Investment in Ethiopia Featured

10 Nov 2017
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Addis Ababa November  10/2017 A business delegation led by Senior Ministers of UK Department for International Development (DFID), and Department for International Trade (DIT) expressed desire to boost trade and investment ties with Ethiopia.

 Following the discussion held with Prime Minister Hailemariam Desalegn on Friday, DIT Secretary of State Dr. Liam Fox, said “there is a lot of interest in UK about being able to invest in the incredible potential and opportunities that exist in this country and we discussed some of the ways that we might make that a reality”.

 “We had very friendly, very constructive discussion about the future relationship between United Kingdom and Ethiopia, how that we might help in some of the issues about opening up the economy making it more investor friendly.”

 According to Dr. Fox, members of the business delegation have shown interest in investing in the country mainly in infrastructure, transport, energy, telecommunications and connectivity.

 Jeremy Lefroy, the Prime Minister’s Trade Envoy to Ethiopia said “Our aim is to increase UK investment in Ethiopia and trade with Ethiopia both export from Ethiopia to the UK and from UK to Ethiopia and we are determined to work with the Ethiopian government.”

 “We really recognize the Ethiopian government determinations to create jobs especially for young people and we would like to support that”, he said.

 Noting that the number of companies that are interested in investing in Ethiopia is increasing, the Envoy said “8 to 10 are here with us and they are mainly interested in infrastructure and energy”. More than 320 UK companies are investing in Ethiopia.

 According to Dr. Aklilu Hailemichael Foreign Affairs State Minister, said the Prime Minister has briefed the delegation about the plan to promote public-private partnership so as to boost capability of the private sector.

 The Premier noted that the expertise and experience in UK and other countries will enable Ethiopia to realize this.

 The Premier has also briefed the delegation about Ethiopia's priority investment areas - labor intensive industries that will create massive job opportunities.

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