Ethiopians in Diaspora urged to Step up Investment in Ethiopia

ADDIS ABABA – Ethiopian community in diaspora has been urged to boost trade and investment activities in Ethiopia.

The call was made at the launch of the week-long Diaspora Investment Forum and Exhibition at the skylight hotel in the presence of higher government officials on Tuesday.

Speaking at the Forum, State Minister of Foreign Affairs Redwan Hussein has appreciated Ethiopians and friends of Ethiopia in the Diaspora for their spectacular commitment to defending Ethiopia’s interests in times of its needs.

It is not the time for them to actively engage in economic activities in Ethiopia, according to the state Minister.

“The game-changing potential of Ethiopians in the Diaspora should now resort to the economic sector,” said Ambassador Redwan.

Transferring money via legally recognized institutions, marketing Ethiopian-made products, and investing in Ethiopia would decrease economic dependence and undue pressures, State Minister Redwan said.

In the first five months of the current fiscal year, Ethiopians living abroad have sent more than $1.64 billion home via legal channels.

In the same period, officials say at least 399 Ethiopian Diaspora have officially expressed their interest to invest in the country with a total capital of 22.4 billion birr.

The four-day long investment forum is expected to promote investment potentials in Ethiopia for the Diasporas who came to their country by accepting the Great Ethiopian Homecoming Challenge.

Textile, agriculture, industrial parks, health and logistics are among the areas that the government prioritized for private investors, according to the Ethiopian Investment Commission (EIC), and organizer of the Forum.

“As these sectors have huge potential in the transformation of Ethiopia’s economy, the session gives due emphasis to attract quality investment that will have the capacity to tap the huge potential,” said Lelise Neme, head of the investment Commission, last week.

Today, Commissioner Lelisa, and Ministers from government organizations have presented detailed reports on several investment opportunities for Ethiopians in the Diaspora to engage in the East African nation.

Similar programs will be held during the Form and exhibitions that will continue until Friday, January 14, 2022.

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