Indonesian investors eye market potentials of Ethiopia

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Indonesian investors, presently undertaking business assessments in Ethiopia, on Wednesday expressed their deep interest in Ethiopia’s market as a main gate to the African continent.

Representatives of Indonesian companies from various sectors including textile, banking, footwear and IT sectors are discussing business and joint venture opportunities with their Ethiopian counterparts in Ethiopia’s capital Addis Ababa on Wednesday.

Indonesian Ambassador to Ethiopia Imam Santoso said his country “highly considers Ethiopia as one of the rapidly developing country in Africa with lots of business potentials.”

Recalling that four Indonesian companies of garment, instant noodles and detergent products are operating in Ethiopia, Santoso indicated that two more companies from Indonesia are undertaking pleliminary works to set up their investment in the near future.

Ethiopian officials also advised Indonesian business representatives to consider government’s priority areas, mainly 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,” said Eyerusalem Amdemariam, Director General of Business Diplomacy at the Ethiopian Ministry of Foreign Affairs.

The total trade volume between the two countries reached 423.9 million U.S. dollars in 2015 from the 87.3 million dollars in 2006, registering a 385-percent increase. Enditem

Source: Xinhua/NewsGhana.com.gh

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