Ethiopia's move to open key economic sectors to spur fast development

(EBC; June 12, 2018) - The move by the Ethiopian government to open key economic sectors, among them Ethiopian Airlines, to foreign investment is likely to spur fast development of the country.

The government this week said “state corporations - railway, sugar companies, industrial parks, hotels and various manufacturing firms” would also be either partially or fully privatized.

This will enable Ethiopians in diaspora, who have wished to contribute to the development of their country, and foreigners to play a positive role in the country’s growth, according to a statement issued by the government.

One of Africa’s leading money transfer companies, Dahabshiil, which operates in Ethiopia and other African countries, has welcomed the new move which its Chief Executive Officer, Abdirashid Duale, has described as a new dawn in Ethiopia’s economic growth.

“Ethiopia is definitely going to grow at a faster rate economically, thanks to the government’s decision to open its doors to foreign investors and the Ethiopian diaspora,” said Mr Duale on Monday.

Hundreds of investors from Africa and the rest of the world have always wanted an opportunity to work and invest in Ethiopia.

This move opens doors for new entrepreneurs, investors and experts in different fields to move in to bring new ideas which will be beneficial for the growth of the country,” he added.

Source: Daily Nation