ADDIS ABABA: Ethiopia is looking to woo business investment from Singapore into the East African country, the Ethiopian Chamber of Commerce and Sectoral Associations said in its invitation to Singaporean businesses to enter the Ethiopian market. According to the chamber, the group had made the invitation to Singapore companies last week during a seminar held in the Ethiopian capital, Addis Ababa. “Ethiopia offers abundant opportunities for investment particularly in the areas of agriculture, agro-processing, livestock, construction, manufacturing, industry, tourism and real estate, said Mulu Solomon President of the Chamber, at the seminar. “The Ethiopian government is committed to creating a dynamic private sector allowing private investment to flourish in the country in the last two decades,” added Mulu. “The government has a similar commitment to supporting and encouraging foreign investment and the new leadership will be sure to retain the same investment policies and commitment,” she added. The hope from many government officials is that by bringing in Singapore investment it would help boost the local economy while creating new trade opportunities in Southeast Asia. “We believe that Singapore has the knowledge and understanding in building a country from the bottom up and we in Ethiopia feel that it could be a successful partnership that would have lasting appeal,” economic consultant to the government Rita Desalegn told Bikyamasr.com on Monday. She argued that Singapore has a unique position in the world as a leading developed country but also one that “is recent in its process and could help point Ethiopia in a right direction.”
