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


Invisible, Forgotten, and Suffering: Darfuri Refugees in Eastern Chad 2016-04-28 18:24:28 By Eric Reeves There are more than 20 million refugees worldwide—and half of them are children. Moreover, according to the UN High Commission for refugees, 86 percent of these refuges are in (...)

Return of Dr. Machar to Juba and next political move 2016-04-26 22:23:10 By James Okuk After exhausting the immature dramatic politicking about return of Dr. Riek Machar to Juba to take up his duties as the First Vice President of the Republic of South Sudan for 30 (...)

Darfur referendum results are nothing but foregone conclusion 2016-04-25 21:27:20 By Mahmoud A. Suleiman The News media owned by the ruling regime of the National Congress Party (NCP) are quoted as saying that the people of the Darfur in the region that doomed by civil wars (...)


MORE






Latest Press Releases


Open Letter to President Salva Kiir and 1st Vice President Dr. Riek Machar 2016-04-18 12:36:12 South Sudan Women United April 15, 2016 Your Excellencies: South Sudan Women United writes to congratulate you both on the steps you are taking towards ending violence in South Sudan and (...)

Report on a tour of the SPLM-N secretary-general in the Nuba Mountains 2016-04-02 07:11:03 Sudan Peoples’ Liberation Movement – North (SPLM-N) *** Nuba Mountains of South Kordofan March 30, 2016 · The SPLM-N is for peace, but the Addis Ababa Agreement will co-opt the opposition into the (...)

Sudan: Silencing women rights defenders 2016-03-31 20:22:15 Human Rights Watch Sudan: Silencing Women Rights Defenders Sexual Abuse, Intimidation by Security Forces (Nairobi, March 24, 2016) – Sudanese security forces have used sexual violence, (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.