info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Internet
This landlocked country of over 100 million people on the Horn of Africa is transforming itself into Africa’s manufacturing hub. The Ethiopia government is luring investments with tax incentives, infrastructure investment, and cheap labour.
Industrial parks construction is also part of the government’s plan. It already has six industrial parks and still looks to set up nine more across the country in the coming years.
Ethiopia has also gone through a historic political transformation after welcoming a new reformist prime minister, Abiy Ahmed, in April. He sought to open up the economy to private investments. He announced plans to sell minority stakes in state monopolies such as Ethio Telecom and Ethiopian Airlines Enterprise, the continent’s biggest airline, as well as Ethiopian Shipping & Logistics Services Enterprise to foreign and domestic investors. The IMF forecasted Ethiopia would be Africa’s fastest growing economy in 2019, with a projected 8.5 per cent growth rate.
The Ethiopian Investment Commission (EIC) launched an online investment guide, iGuide, in December 2018. The platform, created with support from the United Nations Economic Commission for Africa (ECA) and the United Nations Conference on Trade and Development (UNCTAD), will help investors discover opportunities in the country, business costs, key procedures and laws.
