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.


s
Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Mugabe’s Dictatorial End: A Great Lesson for South Sudan 2017-11-20 08:40:27 by Matai Muon In Africa’s model of democracy, serving longer equates to a higher level of democratic peace and stability. From Sudan to DRC, Equatorial Guinea to Uganda, Rwanda to Zimbabwe, the (...)

South Sudan peace revitalization is priority 2017-11-18 13:06:33 By Clement Maring Samuel The SPLM political detainees (FDS), and SPLM in Government (SPLM-IG) holds to views of achieving peace through the reunification of the SPLM party, and through the (...)

Somaliland: How tribalism endangers an African democracy 2017-11-11 06:21:19 By Abdirahman M Dirye From South Sudan, Somaliland, to Ethiopia, ethnic conflicts brew to tear apart these countries and weaken institutions but this time nepotism and clan-loyalty regenerated (...)


MORE






Latest Press Releases


Reactions to government agencies’ conspiracy against Greater Bor community 2017-10-08 07:54:31 By Manyok Abraham Thuch & Kuch Kuol Deng A monkey business or a donkey business in the government of the republic of South Sudan against the citizens is unacceptable. Therefore, we as youth (...)

Amnesty calls to release Nubian activists detained over protest for cultural rights 2017-09-12 20:47:54 AMNESTY INTERNATIONAL PRESS RELEASE 12 September 2017 Egypt: Release 24 Nubian activists detained after protest calling for respect of their cultural rights Egyptian authorities should (...)

New group formed to gather Nuer in United States 2017-08-17 14:15:50 DECLARATION FOR THE FORMATION OF NUD TO BRING TOGETHER ALL NUER IN THE U.S.A Press Statement The Nuer Union For Development (NUD) The United State of America The State of Nebraska August 15, (...)


MORE

Copyright © 2003-2017 SudanTribune - All rights reserved.