Dow desirous to invest in ‘teff’ production
Addis Ababa, 13 August 2014 (WIC) - Dow, a U.S. based chemical company, expressed desire to invest in Ethiopia in the agriculture sector, particularly on production of teff, an Ethiopian staple food which is becoming popular in Europe and the U.S.
After discussing with President Mulatu Teshome on Tuesday, Dow Sub-Saharan Africa President, Ross McLean told reporters that his organization is interested to invest in Ethiopia in the agriculture sector mainly on teff production.
He said the company is interested to work jointly with local companies.
Teff has been a staple food for Ethiopians for thousands of years, McLean said; this gluten-free grain is quickly climbing to super-grain status in the west.
The stability, conductive policy, fast economic development, cheap labour and raw material, among others attracted the company to Ethiopia, he said.
President Mulatu said his country needs to improve agricultural productivity and encourages foreign companies like Dow to engage in it.
The President expressed happiness about the company's desire to invest in the agriculture sector.
In addition to helping increase agricultural productivity, the company will assist in the efforts to promote investment opportunities, according to a high level Ethiopian government official who attended the meeting. (ERTA)
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