18 March 2017

Ethiopia: Turkey Plans to Inject More FDI Here

President Dr. Mulatu Teshome said Ethiopia would avail labor force, land and other infrastructural provisions to Turkish investors aiming to create ample jobs for citizens.

Receiving Turkish delegation earlier in the week, the president lauded Turkish investors already engaged in textile and garment sub-sector contributing to technology and skill transfer apart from creating jobs.

Dr. Mulatu exhorted the delegation to seize the opportunity of investing in ceramic production citing the high demand in the country's booming construction.

He also highlighted the incentives applicable to industrial parks which included, but not limited to, one-stop government services, supply of electricity and water as well as sewerage systems.

Turkey Ambassador to Ethiopia Fatih Ulusoy for his part expressed Turkish investors' interest to involve in the production of renewable energy, construction materials,among others. He further said though trade volume between the two countries has risen to 440 million USD, a large number of efforts should yet be done to reach it up to one billion USD.

Mentioning as Turkish companies are the biggest source of employment in Ethiopia, he unveiled his country's target to elevate Turkish FDI to 2.5 billion USD.

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