The Vice President of the Chamber of Commerce, Industry and Agriculture Belgium-Luxembourg-Africa-Caribbean-Pacific (CBL-ACP) has highlighted the potential for increasing FDI inflow from the Benelux countries to Ethiopia.
Speaking to The Ethiopian Herald, the Vice President Dominiek Viaene said that the reformed investment policy is clear, straightforward, and attractive to foreign investors. He commended the Ethiopian government's investment promotion efforts, noting that the environment is very appealing to private investors.
"First of all, it is clear that the investment policy is structured. It goes step by step. It is quite daring compared to a lot of other African nations. The government is offering opportunities straightforward, and clearing what they want to do," he commented on the reformed investment policy.
According to him, Ethiopia has the potential to attract more FDI with a clear strategy and structured approach.
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The Vice President, who is also an investor in the health and agriculture sectors, stated that his company is considering new investments in Ethiopia. Asked about possible challenges, he responded that he prefers to assess them through practice, as the policy appears clear and detailed.
As a company engaged in "healthcare and agriculture sectors for several years, we can really bring knowledge and work together for a long term," Dominiek highlighted.
To create a solid foundation for the healthcare system, he said, it starts with controlling diagnostics, disease monitoring, pharmaceuticals, hospital quality assurance, and ensuring that doctors and nurses are well trained. He noted that his company has important experience in these areas.
African nations, particularly sub-Saharan countries like Ethiopia, have vast resources and health investment opportunities, though they remain underutilized, he commented, adding that his company is currently active in Nigeria, in West Africa.
"We are looking at places to establish ourselves into Eastern Africa. But, I must say Ethiopia seems to have more Dynamics on the region. That is a bit matching the dynamics of Nigeria," he said.
He also expressed the need to consider how to reduce healthcare costs in the future, emphasizing that healthcare is not only about building hospitals. He noted that the biggest challenge in Europe is transitioning from a curative to a preventative healthcare system. Africa, in this context, has the potential to link its natural resources with science by developing the agricultural sector, Dominiek said.
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