Ethiopia industrial sector attracting Pak investors

The efforts of the Embassy of the Federal People’s Republic of Ethiopia in Islamabad have begun to bear fruit as a major business group from Pakistan traveled to Addis Ababa last week to explore investment opportunities in its industrial sector. A high-level delegation from the Arif Habib Group visited Addis Ababa where they met with businessmen and Ethiopian government officials and discussed investment prospects in the country’s productive sector. On Tuesday, January 17, 2023, the delegation led by Arif Habib Group of Companies Chief Executive Officer (CEO) Muhammad Kashif met with Ethiopian Investment Commission (EIC) Commissioner HE Engineer Lelise Neme and expressed strong interest to invest in fertilizer production, cement and steel in Ethiopia. The meeting was also attended by the Ambassador Extraordinary and Plenipotentiary of the Federal Democratic Republic of Ethiopia to the Islamic Republic of Pakistan, HE Jemal Beker Abdula.

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During the meeting, the EIC commissioner briefed the delegation on the ease of doing business, incentive packages and the investment climate in Ethiopia which was favorable and favorable for investment activities. On the occasion, the ambassador thanked the delegation for visiting his country and said it is time for foreign investors to invest in Ethiopia, which offers lucrative opportunities, business-friendly environment, cheap production costs as well as multiple incentives to foreign direct investors INVESTMENT. The ambassador said Ethiopia has undergone many transformations since Prime Minister Dr. Abiy Ahmed assumed power, who had a vision to transform the country into a major investment destination not only in Africa but also in the world. “We are committed to facilitate investors in our country, that’s why we have created a one-stop shop for them,” he added.

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He assured the delegation of the government’s support to start up and do business in Ethiopia, which generated 96.4 percent electricity from water and geothermal sources which they provided at a cheap price. The delegation of Arif Habib Group held a meeting with officials of the Ministry of Foreign Affairs, Agriculture and Mines where they were briefed on the policies, opportunities and commitment and support of the government to capitalize on the opportunities realized in agriculture, manufacturing and mining. and services. Arif Habib Group is a $2.5 billion net asset behemoth with a diversified portfolio of investments ranging from financial services, industrials and real estate development and consulting. It has a history of establishing Joint Venture (JV) partnerships and continues to expand business partnerships with domestic and foreign entities.