Singapore companies invited to explore untapped investment opportunities in Ethiopia

Addis Ababa, September 26, 2022 (FBC) – The Chief of Protocol of the Ministry of Foreign Affairs-Ethiopia, Demeke Atnafu, invited Singaporean companies to explore investment opportunities in Ethiopia in several sectors as he welcomed and received the copies of credentials of the new Singapore Ambassador to Ethiopia, A. Selverajah.

The two sides also exchanged views regarding the technical cooperation agreements in several fields.

Chief Protocol Demeke gave the Ambassador a briefing on the huge untapped investment opportunities in Ethiopia in the areas of agriculture, agro-processing, mining, manufacturing, industry, and banking that are now open to international investors.

Demeke Atenafu expressed the long-standing diplomatic relations between Ethiopia and Singapore that date back to the 1960’s and the excellent relations that the two countries have enjoyed since then in economic, social, political, and science and technology spheres, among others.

He also said that to deepen the relationship between the two countries, the existing bilateral agreements on the avoidance of double taxation, the development of industrial parks, and cultural exchanges should be considered for further realization and implementation.

The Chief Protocol also briefed the Ambassador about the current developments in Ethiopia and the government’s continued peace efforts and African Union-led peace process in the war against TPLF. He also explained the Ethiopian government’s commitment to negotiate outstanding issues on the Grand Ethiopian Renaissance Dam under the auspices of the African Union.

The Singaporean Ambassador, meanwhile, pointed out the training opportunities set aside by the government of Singapore through the Singapore Cooperation Programme and Singapore-Africa Partnership Package for fellow African friends in different areas.

The Ambassador expressed that Singapore strongly believes that African problems should be managed by Africans. Furthermore, he stated that Singapore encourages the African Union-led tripartite negotiations on the Grand Ethiopian Renaissance Dam (GERD).

He pledged that during his tenure he would work diligently to strengthen the ties between the two countries.