The Digital Workshop of Ethiopia Embassy which took place on March 29 this year presented multiple segments for Trade and Investment for a large number of Qatari Businessmen, Diplomats, as well as the Ministry of Foreign Affairs and Qatar Chamber. The assembly aimed at developing business relationships between the state of Qatar and The Federal Democratic Republic of Ethiopia.  

The Business Meeting was arranged by KON W.L.L. who had explored the concerns of investors and gauged the outlook of the Ethiopian Embassy by representing the significance of investing in Ethiopia. Ms. Hissa Khalil Al Swaidi, the Co-founder of the KON group expressed her profound gratitude for being part of this honorable digital event (DEBW 2021) and welcomed everyone to participate in this event.  

The virtual workshop provided a comprehensive understanding of the various sectors of investment in East African`s Manufacturing, Agriculture, Mining, Trade, and General Business, it revealed incentives based on selected areas and years of investment. The Federal Democratic Republic of Ethiopia offered a favorable demographic, educated workforce, lucrative Incentive of Tax Exemption for Qatari Foreign Direct Investment (FDI).  

The Ambassador of the Federal Democratic Republic of Ethiopia, her Excellency Samia Zakaria, is pledged to work for the strengthening of the bilateral relations between Ethiopia and the state of Qatar, she sent her humble gratitude to the Amir of state of Qatar his Highness Sheikh Tamim Bin Hamad Al Thani and the father Sheikh Hamad Bin Khalifa Al Thani. She also said, “I want to thank and congratulate the KON Group for its incredible contribution and facilitating in organizing this event with the collaboration with our embassy”.

According to the Ambassador, her Excellency Samia Zakaria, “Ethiopia is a huge untapped attractive investment and potentials in the field of Agriculture, Hotel & Tourism, Trade, Infrastructure, Transport, Education, ICT, Health, Mining. She added that the government reform in these sectors aims to attract private investors. 

Agriculture in Ethiopia is the foundation of the country`s economy. It contributes to Gross Domestic Product, rural employment opportunity, and foreign exchange earnings. Mr. Moguonin illuminated the opportunities of investing in Agriculture, stating the rapid growth of national demand for goods and services, the access to the foreign markets, and accessibility to the Sudan port, Berbera, and Djibouti that facilitate the transportation. 

He also mentioned the substantial incentives such as exemption from duties and other taxes on the import of machinery, equipment, construction materials, and raw materials. He explained that there will be the facilitation of market linkages and exemption from income tax for up to 10 years.

Zemedeneh Nagatu, the global chairman of Trade & General Business, said that Ethiopia has a forward-looking approach as it is on track in becoming a top regional manufacturing hub in Africa. The Federal Democratic Republic of Ethiopia is a fast-growing domestic market with 45 million deployable young labor forces. Hence, the government is supporting the integrated Agro-Industrial Parks and graft to attract investors. Mr. Nagatu highlighted that the country has a significant number of beautiful tourist destinations with untapped investment opportunities. 

Mr. Abebe Bedhassa from the Ministry of Mine and Petroleum emphasized the potential sites for mineral and petroleum investment and services. He mentioned the generous incentives such as the licenses provided by the Ministry of Mine and Petroleum in laboratories, drilling, refining, and pipeline. Investing in Ethiopia will be free from custom duties and taxes, besides the exploration and development cost recovery. 

The Digital Workshop was fruitful as participants showed interest to tap into the existing investment potential and take part in the available opportunities in Ethiopia. The founder of the KON group, Mr. Mohamed Riad Massani, provided insights on how to connect the nations and facilitate the emergence of the businesses. Moreover, he touched on how to foster investment and commercial cooperation between the two countries. 

For more information on KON group, please visit their website.

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