Ethiopia Seeks More Investors from Türkiye, Saudi Arabia

ADDIS ABABA – Ethiopian Investment Commission (EIC) Chief discussed collaboration with Saudi Arabian and Turkish diplomats in Addis Ababa in bid to draw more investors from the two nations.

Türkiye and Saudi Arabia are among the major investors in Ethiopia and authorities are now keen to further increase the FDI from the two countries.

Investment Commissioner Lelise Neme met with Ambassador of the Kingdom of Saudi Arabia to Ethiopia, Fahad Alhumaydani Almotairi, on Wednesday.

The two sides discussed the current bilateral economic cooperation between the two countries, according to the EIC.

Saudi Arabia has invested in 236 investment projects in the east African nation with a combined capital of 20.5 billion Birr.

At least 124 projects of the total projects are operational and the remaining are either at pre-implementation or implementation phases , as per a recent media report. The projects range from agriculture, manufacturing, mining, education and hotels, and have created nearly 80, 000 jobs.

During their discussion, both Commissioner Lelise and Ambassador Almotairi agreed to further strengthen the business and investment ties of Ethiopia and Saudi Arabia, said the EIC.

Boosting Türkiye tie

Investment Commissioner Lelise has also held a similar discussion with Taha Alperen, Commercial Counsellor of the Turkish Embassy, at the EIC headquarters today.

Lelise briefed Taha about the investment opportunities in Ethiopia during their extensive discussion that sought collaboration with the Embassy in a bid to attract more Turkish investors to the east African nation.

Following China, Türkiye is the second-biggest investor in Ethiopia, with investment capital of $2.5 billion.

In Thursday’s discussion, Councillor Taha expressed Türkiye embassy’s “strong ambition and commitment” to bring in more investments to Ethiopia through stronger Business and Investment partnerships.

Authorities recently promoted Textile and Agro-processing; Leathers, Mining and Energy; Technology and Tourism; and Pharmaceutical and Health to Turkish investors as top four investment opportunities in Ethiopia.