Tigrai Onlne - August 04, 2014
A high level Ethiopian delegation had concluded a very successful US Ethiopia Business and Investment Summit in the United States. The summit was held in the American cities of Houston in Texas and Los Angeles the biggest city in the state of California.
The Ethiopian delegation which was led by the Ethiopian President Dr. Mulatu Teshome and the Ethiopian Foreign Minister Dr. Tedros Adhanom had extensive meetings with investors and business leaders in the biggest cities of the United States. The main aim of the summit was to show Ethiopia is ready for investing and invite big businesses and investors to come to Ethiopia to invest.
At the Summit Mr. Brien Morgan, managing partner of Detente Group announced a three billion US dollars investment on wind energy in Ethiopia. In addition, KKR Group announced to double its investment on flower investment in Ethiopia. Kohlberg Kravis Roberts (KKR) an American private global investment firm is investing $200 million dollars in Afriflora in Ethiopia. Salim group submitted a proposal to establish household appliances assembly plant in our country. Many others have shown strong interest to invest in Ethiopia. “The outcome of the summit exceeded our expectations and we are very happy” said the Ethiopian Foreign Minister Dr. Tedros Adhanom after the summit.
Ethiopia is one of the fastest none oil economies in the world. The Ethiopian economy is growing in a fast pace attracting many investors from around the world.
Chinese and Indians has dominated the African investment in general and Ethiopia in particular. Investors from those countries have invested in construction, agriculture, horticulture, textile and other manufacturing sectors in Ethiopia.
Some companies from the United States have been involved in Ethiopia, but compare to the Chinese it is insignificant. America has realized now they are missing a golden opportunity in Africa and they are franticly trying to catch up with Easterners. Some say the Americans have lost already and what they are doing is to too late too little.
The investment of companies from the United States will create thousands of jobs and propel the Ethiopian economy to the next level. Despite the Eritrean regimes unrelenting efforts to destabilize it, Ethiopia is the most stable country in the Horn of Africa.
The main reason for investors to pour in billions of dollars to Ethiopia is because they know the country is secure and they can trust the government and they have confidence in the Ethiopian system.