Ethiopia turns to privatisation in bid to attract more foreign investments
By Adesina Idris
London, October 22, 2018 (AltAfrica)-Ethiopia has begun moves to privatise its key sectors in bid to open up the economy to foreign participation and attract more foreign exchanged needed for its next phase of development.
The key sectors to be affected by the first phase of the scheme are banking, textile, leather products, tourism, agro-processing, mines and energy, and other manufacturing sectors.
Making the announcement in London at a recent UK-Ethiopia Trade and Investment Forum, Dr Arkebe Oqubay, the Special Economic Advisor to Prime Minister Dr Abiy Ahmed, told investors at the forum that the key sectors targeted for privatisation are sectors with high return on investments that would be mutually beneficial to the country and the investors.
Leading a delegation of 30 companies Dr Arkebe Oqubay also briefed the participants at the forum on array of the investment opportunities and incentives available in the 105 million populated nation
Dr Arkebe Oqubay highlighted the customary changes undertaken by the government of Ethiopia to create a conducive business environment both for local and foreign companies to be productive in their operations in the economy