Ethiopia Seeks More Japanese Investment, Says Deputy FM

ADDIS ABEBA – Ethiopia’s State Minister of Foreign Affairs Markos Tekle held talks with  Japan External Trade Organization (JETRO) officials at his office where he urged Japanese investors to invest more in the East African nation.

JETRO’s chairperson Nobuhiko Sasaki is in Addis Ababa leading a Japanese business delegation, according to a statement issued by Ethiopia’s ministry of foreign affairs.

Deputy FM Markos, during his discussion with the delegation, said the diplomatic relationship between Japan and Ethiopia has improved substantially.

Japanese investors have to take advantage of Ethiopia’s favorable investment climate, he said.

JETRO is organizing the Japan-Africa Business Expo as the largest official side event at the forthcoming Seventh Tokyo International Conference on African Development (TICAD7).

The conference, scheduled to take place from August 28 to 30, will provide a wide range of business opportunities in Africa, according to JETRO.

Markos told Nobuhiko that Ethiopia is preparing to promote its investment and trade opportunities during TICAD7.

He also took the meeting with the Japanese business delegation government’s commitment to provide the necessary support if they decided to invest in Ethiopia.

In a bid to promote business exchange between Addis Ababa and Tokyo, JETRO opened its office in Addis Ababa in July 2016.

In the same year, a Japanese firm Japan Tobacco Inc bought 71% of the shares of National Tobacco Enterprise S.C. from the Government of Ethiopia for USD 1 billion. It is the largest private sector investment by a Japanese company in Ethiopia to date and its officials are keen to expand their investment.

Japanese investors are currently engaged in various sectors, said JETRO’s chairperson Nobuhiko, adding that, many more are also keen to come and invest in Ethiopia.

They will support Ethiopia’s industrialization drive, he added.