Ethiopia eager to welcome Japanese investment in agro-processing, mining and tourism
Addis Ababa, July 2, 2022 (FBC) – The Embassy of Ethiopia participated in 4th monthly Conference of African Ambassadors in France organized by the Club Afrique de la Presse Parisienne (CAPP), Africa Presse Paris (APP) and AFRIJAPAN (Promotion entity of TICAD) held under the theme “As an introduction to the next TICAD 8 in Tunis: Assessment and prospects of Japanese cooperation in Africa”.
Speaking about the historical relations between Ethiopia and Japan, Ambassador Henok Tefera highlighted the special place that Japan holds in Ethiopia and the inspiration that Japan provides for many countries in Africa with the high level of socio-economic development it has attained.
Like Japan, Ethiopia is investing in human resource development by continuously enhancing access to quality education, in infrastructure development and in creating conducive conditions for the private sector to flourish and create wealth that will uplift its people from poverty.
Between 2016 and 2019, some 20 billion USD were invested by Japan in Africa with the presence of close to 800 companies. Going forward, Africa looks to more investments from Japan focusing not just on sales of manufactured goods but the actual setting-up of assembly plants in the continent.
Ethiopia, with a young population of over 110 million, an economy of over 100 billion USD GDP, fast growing exports, and a magnet for foreign direct investment (FDI) with over 4.3 billion USD in FDIs attracted in 2021, is eager to welcome Japanese investment in agro-processing, mining, tourism, ICT and manufacturing.
During next TICAD, it is expected that the political impetus will be laid for the further scaling up of the partnership between Japan and Africa based on their respective priorities in particular, the African Union Agenda 2063.