Finance Minister Ahmed Encourages French Firms to Invest in Ethiopia

ADDIS ABABA – Finance minister, Ahmed Shide, has encouraged top French companies to invest in Ethiopia as he continues his visit to the European nation on Thursday.

The minister and his delegation are currently on an official visit in France where he met top government officials and French MPs.

Today, the minister met with MEDEF International, the biggest employers’ association in France. Some of them have already invested in Ethiopia.

Ahmed has briefed the investors about the comprehensive reform measures the government of Ethiopia is taking to increase the private sector’s role in the economy, according to a statement his office issued after the meeting..

IT said the Minister explained how the ongoing home-grown economic reform program is serving in attracting and diversifying investment flow to the country mainly through improvements made in policies, regulations and efforts in institutional building.

He also elaborated about measures being taken by the Ethiopian government to correct macroeconomic imbalances, the statement reads.

During the meeting, his deputy, Yasmin Wohabrebbi, explained to the French companies about Ethiopia’s major investment potentials in the area of agriculture, agro-processing, mining, manufacturing, and other sectors.

The state minister also encouraged French investors to continue looking into the untapped investment potential and incentives in the country.

Finance Minister Ahmed has also responded to questions raised by the investors about the investment-led economic policy and reforms being undertaken in Ethiopia.

Some of the firms called “very open” and seem to create more interest among the companies attended the meeting.

“Very open discussion this morning with [Finance] Minister Shide on the business environment and reforms,” said David Bertolotti of Eutelsat, in a message posted on twitter.

Bertolotti described Ethiopia as one of Africa’s largest markets.

“Eutelsat is proud to support its broadcasting sector,” he wrote. “It could do even more with Konnect satellite internet services”.

Representatives of over 25 French companies such as BPI France, Eutelsat, Lazard, Orange SA and Total Marketing Services attended the meeting.