The efforts of the Federal Democratic Republic of the Ethiopian Embassy in Islamabad are beginning to pay off as the Pakistani industry becomes interested in the Ethiopian Industrial sector.
The efforts of the Federal Democratic Republic of the Ethiopian Embassy in Islamabad are beginning to pay off. A significant corporate delegation from Pakistan recently traveled to Addis Abeba to look into investment potential in the country's industrial sector.
Ethiopia's industrial sector connives with Pakistani investors
A senior Arif Habib Group delegation traveled to Addis Abeba to meet with business leaders and government representatives to discuss potential investments in the nation's manufacturing sector.
The board was led by Arif Habib Group of Companies CEO Muhammad Kashif and H.E. Engineer Lelise Neme, Commissioner of the Ethiopian Investment Commission (EIC), on Tuesday, January 17, 2023.
They expressed a strong desire to invest in the production of steel, cement, and fertilizer in Ethiopia. The meeting also included H.E. Jemal Beker Abdula, Ambassador Extraordinary, and Plenipotentiary of the Federal Democratic Republic of Ethiopia to the Islamic Republic of Pakistan.
During the meeting, the EIC commissioner gave the team a briefing on Ethiopia's business-friendly environment, incentive programs, and favorable investment climate. At the time, the ambassador thanked the delegation for traveling to his nation and expressed gratitude. '
He also said it was time for foreign investors to invest in Ethiopia. This will lead to lucrative opportunities, a business-friendly environment, low production costs, and numerous incentives for foreign direct investment.
Furthermore, the envoy claimed that since Prime Minister H.E. Dr. Abiy Ahmed assumed office, the country has seen significant change. This is due to his intentionality to make Ethiopia a key investment destination in Africa and globally.
He continued that they are committed to which makes it easier for investors to do business in our nation, which is why they've set up a one-window operation.
He promised the group the government's help in launching and operating a firm in Ethiopia, which produced 96.4 percent of its power from geothermal and water sources at a low cost.
The delegation of the Arif Habib Group met with representatives of the Ministries of Agriculture, Foreign Affairs, and Mines. They were briefed on the government's policies, opportunities, and commitment to helping them take advantage of the available opportunities in these sectors.
With $2.5 billion in net assets, the Arif Habib Group is a sizable business with a broad range of investments in financial services, companies, and real estate development and consulting. In addition, it has a track record of creating joint venture (J.V.) partnerships and is actively growing business partnerships with domestic and international entities.