Ethiopia Welcomes French Investments with Open Arms

Addis Ababa, June 30, 2022(Walta) – Ambassador of Ethiopia to France, Henok Teferra Shawl said investments are welcome with open arms, incentives, and access to a market of over 115 million people a fast-growing economy.

He spoke at the Ethiopia-France Business forum during the celebrations of 125 Years of Diplomatic Relations between the two countries.

French investments, in particular in priority areas such as agro-processing, manufacturing, mining, tourism, and ICT, are encouraged, he said.

Ambassador Henok recalled the France-led construction of the Ethio-Djibouti railroad project at the turn of the 20th century that opened the country to investment and trade flows.

Besides TotalEnergies, the Ambassador appreciated the inflow of FDI and opportunities for employment due to the presence of new economic actors from France, notably Canal + and the Soufflet Group.

The Ambassador also appreciated France’s support of the reform agenda of Prime Minister Abiy Ahmed and notable cultural projects.

About 30 representatives of companies from France working in agro-processing, tourism, manufacturing, ICT, creative industries, and aviation, and 15 businesspeople from Ethiopia took part in the Forum.

The Embassy organized the Ethio-France Business Forum in collaboration with WAFA Marketing and Promotion.