A 12-businessperson delegation representing different Swiss companies is in Ethiopia to assess investment opportunities.
Speaking at Ethio-Swiss Business Forum on Monday Deputy Director of Ethiopian Investment Agency, Mohammed Seid, said Swiss companies will be profitable if they engage in the manufacturing sector which is prioritized by the government.
He particularly pointed out that textile and garment, leather and leather products, agro-processing, agriculture and construction are highly profitable and encouraged by the government.
The government has established pertinent institutions such as Ethiopian Investment Agency, Ethiopian Agricultural Transformation Agency and Ethiopian Agricultural Investment and Land Administration Agency that
extend support to investors and facilitate investment, he added.
According to Mohammed, Ethiopia has a wide market with close to 85 million people. Besides, the country is a beneficiary of AGOA and Everything but Arms initiatives.
Ethiopia's political, social, and macro-economic stability as well as its strategic location has made the country an investment destination in Africa, he noted.
Managing Director of Swiss-African Business Circle, Michael Rheinegger said the companies are eager to engage in pharmaceutical, construction and agriculture sectors, among others.
CEO of Molinari Rail AG, Michele Molinari, who is currently engaged in railway and other technology sectors in Ethiopia, said his company is interested in investing more in the growing construction sector in the country.
The Swiss delegation will stay here until Friday.
Source: ENA
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