ADDIS ABABA, (Xinhua)
-- The Ethiopian government on Wednesday
launched a national initiative that aimed to improve the
investment climate by spurring opportunities for foreign
investment plan mainly identified over 80 distinct actions that
would be delivered across operations provided in 10 government
“The reform measures
will be monitored by the Policy and Performance Unit of the PM’s
office and coordinated by the Ethiopian Investment Commission (EIC),”
the office of Ethiopian Prime Minister Abiy Ahmed said in a
statement on Wednesday.
initiative, which aimed at improving the East African country’s
investment climate, was launched by Prime Minister Ahmed, who
noted Ethiopia’s current investment climate as underperforming.
According to Ahmed,
the newly launched initiative is an integral part of Ethiopia’s
Action Plan for Jobs.
The initiative “will
make Ethiopia a competitive place to start and grow businesses,”
Ahmed was quoted as saying by his office.
“Ethiopia needs job
creating economic growth. Successful businesses and
entrepreneurs drive jobs growth,” he added.
The premier also
stressed that his government has “an essential role in
identifying and addressing constraints that prevent the private
sector from growing and generating jobs.”
Monetary Fund (IMF), as part of its economic outlook for Africa
that was published in Oct. this year, forecasted that Ethiopia
will host Africa’s fastest growing economy in 2019, as the
country’s economy is projected to grow at 8.5 percent during the
current Ethiopian fiscal year, which will end on July 7, 2019.
government has plan to set up 15 industrial parks across the
country, of which six of the industrial parks have been
officially put into use over the past few years, attracting a
large number of transnational companies from China, India, South
Korea, as well as those from other parts of the globe.
construction is part of the Ethiopian government’s ambitious
plan that will see the country become the manufacturing hub of
Africa with a middle income economy by the year 2025.