(June 30, 2011, Addis Ababa)--A business forum that displays investment opportunities in Ethiopia attracts a whole host of businesses in Dubai.
The forum that happened in Dubai compelled the renowned tycoon and vice president of the Dubai Chamber of Commerce to appear there and buoyantly tell the forum that Ethiopia offers many investment opportunitie.
For the business people who are exchanging business cards, it could be their first time when they learn about investment opportunities in Ethiopia.
Firms that run their business and investment in the United Arab Emirates are trying to get every valuable tip to see opportunities they may exploit in Ethiopia.
Vice President of the Dubai Chamber of Commerce, Rahman Saif Algure did not appear in many of the similar forums that happened to show off investment opportunities of various nations like Brazil and Turkey.
The renowned business tycoon came to the third business forum as it focuses on Ethiopia which powers with fast economic growth. The Dubai Chamber of Commerce has 183 businesses that operate in partnership with Ethiopia. The companies, he said, are capable to invest in Ethiopia and some are currently in action.
So far, there are 13 businesses operating in Ethiopia, of which four are working in the manufacturing sector while the rest are engaged in real estate, agriculture and education among others. Tadese Haile, state Minister of Industry said, as Dubai is the seat of many businesses, the flow of investment from there to Ethiopia has a long way to go.
Managing Director of Ernest and young East Africa, Zemedeneh Negatu explained Ethiopia would be the third biggest economy in Africa with an estimated GDP of $417 billion. It is wise, he noted, to invest in Ethiopia as it experiences one of the fastest growths among non-oil economies.
Ethiopian consul General to United Arab and Emirates, Misganaw Arega for his part labeled the need for more foreign investment into Ethiopia as time-driven.
Source: ERTA News
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