Home | News    Wednesday 16 July 2014

Sudan becomes second largest investor in Ethiopia after China

separation
increase
decrease
separation
separation

July 15, 2014 (ADDIS ABABA) – Sudanese business firms have become the second largest foreign investors in Ethiopia after China, the state-run Ethiopian Radio and Television Agency said.

According Awad al-Kareem, president of the Sudanese Investors Society in Addis Ababa, the amount of capital investment made in Ethiopia by Sudanese firms has reached around $2.4 billion.

Al-Kareem said more and more Sudanese firms are investing in Ethiopia due the favourable investment opportunities created by the government comparing the existing difficulties in Khartoum to acquire investment licenses among others.

To attract more foreign investors, the Ethiopia government has made available a special loan fund through the Development Bank of Ethiopia (DBE) enabling investors to have a loan of up to 70% of the cost of a feasible project.

Among other investment incentives the country offers for foreign investors, is land which is available to be leased at a very cheap cost.

According to the Ethiopian Ministry of Industry, currently there are over 800 Sudanese firms operating in the country in areas of Agriculture, manufacturing, construction and other areas.

Al-Kareem said the Ethiopian government is planning to amend the minimum investment capital for foreign investors from $200 to $3 million to encourage the flow of investors coming in.

Ethiopia has an immense potential in attracting investment into its agriculture sector with huge fertile arable land accounting around 515 million hectares of the total landscape.

The East African country which is Africa’s second most populace nation is also the continent’s political hub and geographical close to the Middle East and Gulf nations.

A survey conducted last year by the World Bank indicates that Ethiopia is one the few African countries where business was easy to start.

According to government figures the country has been registering double-digit growth of between 10 to 12 percent during the past 10 years, however, opposition political groups criticise the figures provides, saying they have been highly exaggerated beyond the actual growth figures.

The International Monetary Fund (IMF), says actual growth is average 5 to 7 percent.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Views beyond the recent Paris Declaration 2014-08-24 21:10:17 By: Elhadi Idriss Yahya August 24, 2014 - Did the leader of Sudan’s opposition National Umma Party (NUP), Sadiq al-Mahdi finally acknowledge the existence of the Sudan Revolutionary Front (SRF) (...)

Riek Machar treacherous journey 2014-08-21 04:41:42 From plotting a failed coup to ending in foreign land By Steve Paterno August 20, 2014 - After failing to ascend to the helm of power through party structures, the overly ambitious Riek (...)

Sixty years of the Sudanese Armed Forces went unheeded 2014-08-20 06:01:50 By Mahmoud A. Suleiman August 19, 2014 - This article comes against the backdrop of the Sudanese armed Forces (SAF) celebration on Thursday 14th August 2014, for its Sixtieth Anniversary. (...)


MORE








Latest Press Releases


National Dialogue in Sudan: Past experiences and current challenges 2014-08-27 06:18:22 Sudan Democracy First Group (SDFG) Since independence, Sudan has undergone a number of national peace agreements, some of which were observed and honored for short periods, others which were (...)

A new approach to the National Dialogue will stop war and lead to democracy in Sudan 2014-08-22 06:50:30 A New Approach to the National Dialogue in Sudan that will Stop the Wars, Address the Humanitarian Crisis and Lead to Democratic TransformationChatham House, London on Wednesday, August 20, 2014 (...)

Friends and Diaspora of South Sudan urge leaders to choose peace 2014-08-19 20:29:59 FOR IMMEDIATE RELEASE CONTACT: Esther Sprague, Founder & Director, Sudan Unlimited 415.713.2495, esprague11@yahoo.com FRIENDS AND DIASPORA OF SOUTH SUDAN URGE LEADERS TO CHOOSE PEACE UNSC (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.