Ethiopia pledges attractive preferential policies for Vietnamese investors

Ethiopian authorities have affirmed that the country welcomes Vietnamese businesses to invest in trade and production and will give them attractive preferential policies.

Illustrative image (Source: VNA)

The statement was made during a meeting between 50 Vietnamese firms and local authorities of Ethiopia in Addis Ababa on August 24 to discuss promising investment areas in Ethiopia, according to Ethiopia's ENA news agency.

Addressing the event, Ethiopian Minister of State for Foreign Affairs Prof. Afwork Kassu, said that his country will design attractive policies to encourage investors, especially in prioritised fields, including manufacturing industry, apparel, renewable energy, construction and agricultural processing.

The Vietnamese business delegation is on a visit to Ethiopia in a suitable time when the African country is implementing its reform cause, said Prof. Kassu.

He held that a favourable business environment, proper economic policies, stable macroeconomy and large-scale market are important factors to investors. Therefore, he affirmed that Ethiopia is an attractive destination for investors in all aspects.

He clarified that Ethiopia has made considerable progresses in becoming a promising place for doing business in Africa through the expanding of the infrastructure system such as industrial parks, railway network and roads.

Meanwhile, Minister of Planning and Investment Nguyen Chi Dung said that Ethiopia has a strategic position in the world economy. With abundant unexploited natural resources, the Horn of African country will become a destination for Vietnamese investors in trade and investment. Vietnamese firms wish to optimise existing potential of Ethiopia in energy, telecommunications, chemical production and fertiliser production.

According to the ENA, an Ethiopia-Vietnam Business Forum was held on the same day, drawing 50 Vietnamese firms who are accompanying President Tran Dai Quang during his ongoing State visit to Ethiopia.

Local firms reported that the forum aimed to seek measures to forge stronger cooperation in trade and investment, especially in oil and gas, apparel, real estate, telecommunications, power, agricultural production processing, automobile and other fields of both countries' potential./.

VNF/VNA