JEDDAH, 4 June 2005 — Ethiopian expatriates have been asked to contribute toward the ongoing democratic process of transition “from bullet to ballot box.”
Their Ambassador Mahdi Ahmed and Consul General Tekleab Kebede gave the advice at a community function held at the consulate here on Thursday night to mark the country’s 14th anniversary of transition to democracy.
“Ethiopia is open to business, changing fast for the better, and welcomes foreign investors,” the ambassador said and invited Saudis to take advantage of the immense opportunity that the country of rich natural and human resources offered for expanding tourism and trade.
“Varieties of incentives are available to Saudi and other overseas investors,” Ahmed said and identified areas that could prove to be most rewarding for investors. They include agricultural activities from coffee to roses.
Over 140 types of crops are currently grown in Ethiopia and agriculture and agro-based industries are on priority for attracting foreign direct investment (FDI).
Since May 28, 1991, when the military dictatorship was overthrown and replaced by a multiparty democratic system, the country has been able to achieve an average economic growth of five percent, with the 2004 GDP growth being 11.6 percent.
A number of steps have been taken to attract FDI. “The Ethiopian government is committed to ensuring that private capital plays a significant role in the economy. It has eliminated some or all of the discriminatory tax, credit and foreign trade treatment of the private sector, and simplified administrative procedures and established a clear and consistent set of rules regulating business activities,” he said.
Ethiopia is a large country with great geographical diversity. It has 18 ecological zones and five climate zones, ranging from the Alpine to the desert.
Well over half the country consists of highlands where temperatures do not exceed 20 degrees C. This climate is of course an asset for tourism and also an asset for a variety of agricultural activities that are open for FDI, he added.
