Saturday, July 30, 2005

Yemeni Entrepreneurs Desire to Invest in Ethiopia

allAfrica.com -- The free market economic policy of Ethiopia, which envisages mutual trade and investment relations among countries, has attracted the attention of Yemeni entrepreneurs, Head of a Yemeni delegation said.

Head of the visiting Yemeni delegation, Sheik Mohamed Omer Ba-Mashmoos said the new economic policy of the Ethiopian government would help to forge sustainable and dependable economic ties between Ethiopia and Yemen.

The official made the statement yesterday at the joint meeting of the Ethio-Yemen trade and investment relations here in Addis Ababa.

Hence, Yemeni entrepreneurs are desirous to invest in Ethiopia especially in the fields of petroleum, agriculture, and processing of leather, Ba-Mashmoos said.

More than 50 businesspersons will be visiting Ethiopia soon with a view to sharing experiences as well as forging trade relations among Ethiopian counterparts.

He said, the age-old historical and cultural relations as well as the geographical proximity of the two countries would further strengthen the ongoing Ethio-Yemen trade and investment cooperation.

The governments of Ethiopia and Yemen should coordinate efforts and resources toward ensuring economic development and bringing about social progress among the peoples of the two sisterly countries.

According to the official, about 20,000-25,000 Yemeni nationals are living in Ethiopia at present.

Commissioner of the Ethiopian Investment Commission (EIC) Abi Wolde-Meskel said on his part that the Ethiopian government has put in place free market economy and devised a suitable investment policy in a bid to encourage trade and investment in the country.

Commissioner Abi said the government has designed various incentives to local and foreign entrepreneurs with a view to encouraging investors to come to Ethiopia.

He said, the government encourages foreign investors who are willing to invest in Ethiopia in agricultural, industrial, and other socio-economic sectors.

The 18-member Yemeni delegation would hold discussions with the business community and visit the various business establishments during the coming four days.

Yemeni Ambassador to Ethiopia Amin Alyousfi and Ethiopian Ambassador to Yemen, Abdi Dolal were in attendance at the meeting.

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