Ethio-US Investment Forum conducted in Los Angeles

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Addis Ababa, 4 August 2014 (WIC) - The Ethio-US Forum has been conducted in Los Angeles, California, next to Houston, Texas.

Including Chevron and KKR, which recently has started Horticulture investment in Ethiopia, 450 large US companies’ owners and representatives participated in the Forum; discussing with Ethiopian higher government officials about investment.

President Dr. Mulatu Teshome told the participants that it was because of misinformation capitalists have abandoned investing in Ethiopia till now that the country was not favorable to do so.

But as Ethiopia is now fast growing, developing infrastructure, and help keeping peace and security in its neighboring nations, Dr. Mulatu called on capitalists to have trust on it and come to invest in the country.

Investment Agency General Director, Fitsum Arega said that 75 US capitalists have taken licenses to invest in Ethiopia; mostly having joint ventures with Ethiopian Diasporas.

US companies like KKR have already started investment in Ethiopia and other American companies are keen on investing in the country, he added.

The US company owners and representatives participating at the Forum disclosed that they are interested to invest in Ethiopia in power generation and other sectors.

Manchester Business Deputy President in Washington, Tony Carroll said that a Ethiopia has a big potential in power generation, which is promising to invest in for a company or capitalist.

According to ERTA, the US business people said that the Forum has provided them with the necessary information to invest in Ethiopia.