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Ethiopia: PSOM Announces Sucess in Country, Worldwide

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The Daily Monitor (Addis Ababa)

1 March 2008
Posted to the web 4 March 2008

Fikremariam Tesfaye
Addis Ababa

PSOM, has been remarkably successful in its operations in Ethiopia and elsewhere in the world, an official with the Dutch-funded programm said on Thursday.

PSOM is a Ductch govenemt-funded world wide program launched to promate sustainable development in emerging markets such as Ethiopia.

Briefing reporters at the Hilton, Drs. Judith LM Arends, Unit Manager of the program for cooperation with Emerging markets said that, in the year 2007, worldwide, 93 projects were approved of which 10 projects were in Ethiopia.

Judith said Ethiopia ranked highest on the worldwide list of new projects where a total of 29 projects have been launched with 15 mln Euro in floriculture, cosmetics, honey production, organic coffee, seed potato's and injera production.

The PSOM is a unique programme which stimulates the setting up of joint venture among Ethiopian and Dutch Companies.

The ideas is to generate employment and income and transfer know how by boosting the local private sector.

PSOM is executed by the EVD, the Netherlands, on behalf of the Dutch Ministry of Foreign Affairs/Development cooperation. In order to assist Ethiopian companies in finding a Dutch partner companies, EVD will soon start the matchmaking facility.

Relevant Links East Africa Economy, Business and Finance Ethiopia Europe and Africa Sustainable Development

60% of the projects granted by Dutch government and 40% by private sectors.

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