Ethiopian Diaspora urged to exploit investment opportunities at home

Addis Ababa, April 25 (WIC) - Deputy Prime Minister and Minister of Foreign Affairs of Ethiopia Hailemariam Dessalegn has called on Ethiopian Diaspora to exploit the investment opportunities available at home.

Speaking at a discussion forum organized for Ethiopian Diaspora on Tuesday, April 24, 2012, Hailemariam said the government has created investment-friendly atmosphere with a view to realizing the Growth and Transformation Plan (GTP).

He said the government has designated 3.6 million hectares of land for investment projects of which only half a million hectare is leased by foreign investors.

Some 40 percent of the land leased by Ethiopian Diaspora is set aside idle and government has already delegated a foreign company to study the sluggish investment activities.

He said Ethiopia has enormous investment potential and Ethiopian Diaspora would benefit a lot if they invest at home.

Hailemariam said the nation has registered over 11.4 Gross Domestic Products (GDP) in this Ethiopian budget year.

He reminded that national saving had only been the sum-total 5 to 6 % of the GDP. Currently, however, it has reached almost 9% and it has shown remarkable promise to increase.

He said inflation is a challenge and the government is taking curative measures to address the issue.

According to Hailemariam, the government is exerting strenuous efforts to enhance activities in the areas of agricultural productivity, income generation, textile, and leather and sugar projects, among others.

He added the potential building is being done in textile and leather industries to enhance the income from the export of the items by adding value to the products.

Infrastructure and human power development, social services and construction activities have enabled the nation to boost its domestic produce and foreign currency earning.

Some of the participants of the meeting on their part called for the establishment of an organization that could strengthen their participation. They also called for the establishment of a center that would enable them to transfer their knowledge.

The participants have raised a lot of economic, financial, political, and good governance –related questions.

In addition to Hailemariam, Mekuria Haile, Minister of Urban Development and Construction, Yohannes Ayalew, Deputy Governor of National Bank of Ethiopia, and Nega Tsegaye, State Minister of Ministry of Foreign Affairs responded to questions posed by the participants.