ETHIOPIA IS AN IDEAL COUNTRY FOR COMMERCE AND INVESTMENT
Many people say – “It is a Crisis in the world now!!!”
Some people get depressed, believing that this is an end of the life and there are no great perspectives for the future.
They curse everything in the world, complain and regret, that got involved in some particular business and in business in general, and do little to change the situation. In other words remain passive.
Fortunately there are other people who based on the experience of the world economy are well aware, that crisis cannot last forever and it certainly should rise, and one needs to be prepared for it. These people are looking into the future with optimism, using this time as a respite to analyse the situation , develop a new strategy, implement new innovations, diversify business and very important to FIND NEW MARKETS for their products and services.
We sincerely hope that you come from the category of optimistic people.
According to many experts in the field of economy, the most promising for business development is the African Continent. Moreover many believe that the next economic miracle such as for example in Singapore, South Korea, China, India, OAE, Monte Carlo will be in Africa.
There are more then 55 countries in the African Continent. We would particularly recommend to take a closer look at Ethiopia!
The rapid development of the economy and the intense population growth dramatically increases the need for the country’s water resources, energy and especially electricity and modern technologies.
Oil reserves in Ethiopia are estimated at 400 million tons, there are also geological surveyance conducted now in the regions of the Omo and the Haggadah . The gas reserves as well, are concentrated in the south east of the country.
Currently, oil and gas is not produced or processed in the country, all needs are met by imports of petroleum products. Mainly diesel and kerosene (around 85 %) and to a lesser extent gasoline and masut. In total Ethiopia imports about 3 million tons of oil products.
Ethiopia employs different methods of electricity production, there are Power plants, Thermal power plants, Renewable energy and Hybrid ( solar panels work during the day and turbines are driven by biofuels at night ). The total capacity of the country’s electricity are 4.4 MW. Solar energy is under vigorous development, after all its Africa and the SUN is plenty over there.
Ethiopia is a leader in hydropower in Africa and the country has built many hydro power plants. The Grand Ethiopian Renaissance Dam ( Dam Millennium ) of about 6 Mw of capacity is currently under construction, it is one and a half times bigger than the currently available capacity. But even now, not only does Ethiopia supply electricity for itself , but also sells it for export.
Since there is a significant amount of rainfall in Ethiopia , the rivers are full and there is sufficient water for irrigation thus irrigation systems are developing . Most of the rivers belongs to the Nile Basin and the deepest among them is Abbay, in the lower current it is known as the Blue Nile. For hydro-geographic network of Ethiopia the presence of lakes in the Great Rift zone is common.
The Facts About Ethiopia
|Ethiopia officially known as the Federal Democratic Republic of Ethiopia|
|Area:||1 104000 million km²|
|Official language:||Amharic, but English spoken widely in the big cities.|
With Continued Rapid Growth, Ethiopia is Poised to Become a Middle Income Country by 2025
1) Ethiopia has never been a colony of any country.
2) The political situation in the country – is stable. Without any upheavals .
3) The Population over 25 years (from 1991 to 2016) had doubled from 49 up to 101 million people. More then 80% of the population less than 30 years.
They are young, ambitious, well educated people eager to do business and work hard.
Ethiopia population increase over the last 25 years 2016 101 mln
Ethiopia population increase over the last 25 years
4)There is currently intensive industrial and civil construction in progress with the use of modern technologies. Public and sport facilities, factories, roads, real estate, hotels and shopping centres are all under development. There are 3, 4, and 5 star hotels as well as a beautiful international airport in Addis Ababa. A huge stadium is currently under construction and a modern Entertainment and Exhibition complex covering 100,000 square meters is starting its construction soon.The first light metro line had started in Addis Ababa in 2015. There are also plans to develop the railway network in the country.
5) Ethiopia is one of the few countries with the ideal climatic conditions and huge natural resources, contributing to the commercial production of almost all crops, floriculture, animal husbandry . The climate is suitable for growing up to 146 crops. Agriculture – the leading sector of the Ethiopian economy. The country has 74.3 million hectares ( 45 % of the total area ) , suitable for agriculture, of which only 40 % are in use. Also the country has a very highly developed animal husbandry.
6) Ethiopia – the leading producer of coffee in Africa. Also very popular the Ethiopian tea, which is considered one of the best in the world.
7) There are favorable geological conditions with a wide variety of mineral resources. In Ethiopia, there are gold, tantalum, platinum and other rare metal. Explored reserves of coal, oil and gas.
8) Presence of favorable climatic and natural factors is complemented by the conditions created by the government for investors.
Ethiopia is different from many other African countries, by the facts, that the country has a stable political and macroeconomic environment, and attractive legal base.
The authorities have the lowest rate of the criminal offenses in Africa and no tolerance to corruption,
9) At the same time the good investment incentives are provided, including a package of measures to support investors, from obtaining a permit before granting soft government loans of up to 70 % of the project cost , duty-free imports of machinery and equipment for the production set up. For citizens of many countries, Ethiopia has granted visa-free access or visa on arrival.
10) Annually Ethiopia imports in huge quantities a wide range of goods: from food processing machinery to chewing gum. Only In 2016 Ethiopia has doubled its wheat purchase as well as other food commodities.
The share of import is increasing, and in the last ten years, went from $4 billion in 2005 and reached more, then 19 billion USD in 2015.
11)Ethiopia is a member of the Common Market for Eastern and Southern Africa (COMESA)a free trade zone which unites 20 African states with the total population of around 500 million people. All those countries are heavily rely on imported goods where food and food related products take a very big share.
12) Third International Conference on Financing for development took place in Addis Ababa, Ethiopia in July 2015. The Conference gathered high-level political representatives, including Heads of State and Government, and Ministers of Finance, Foreign Affairs and Development Cooperation, as well as all relevant institutional stakeholders, non-governmental organizations and business sector entities. The Conference resulted in an outcome which provides: A new global framework for financing sustainable development that aligns all financing flows and policies with economic, social and environmental priorities,
13) As a result of wise policies, boost of the economy advanced up to more than 10% over the past 10 years annually. Also, the number of dollar millionaires in Ethiopia increased by 108% over the past few years, it is faster than at any other country on the African continent.
14) In the past 10 years a large number of companies with foreign partnership were established in the Ethiopia which suggests a wide recognition of the country as a promising emerging market.
15)Ethiopia today is a country with a huge potential for development, therefore, investing in the development of various sectors of the economy today will result in large dividends from the investments tomorrow.
IN FACT IT DOES NOT LOOK LIKE A CRISIS AT ALL
WELCOME TO ETHIOPIA, AFRICAN MARKET ACROSS EthioWEETEX + EthioBig5 2020 July 7-9