Sawiris Family Plans To Invest In Ethiopia: Official

Ethiopia received a request from the Sawiris family to invest in the country’s hotels sector, according to the Ethiopian Prime Minister’s Adviser, Getachew Reda.

Reda added that Ethiopia is negotiating with some Egyptian businessmen to boost new investments, and has received various requests from Egyptian investors to launch projects in Ethiopia.

“El-Sewedi and Abo Elenin already have investments in Ethiopia, and we are negotiating increasing investments,” added Reda.

Reda said Ethiopia encourages Egypt to invest in wheat agriculture to provide a supply of the grain for the Middle East and Russia.

“The time frame for ratifying the agreement is very tricky, but there are intentions to join the agreement, and for Ethiopia it requires in depth negotiations. No offer of goods has been made to implement, but the country should work on providing comprehensive goods,” said Reda. “The establishment of the Free Trade Area [FTA] and the investment between the countries is very impressive.”

He pointed to the importance of the agreement to further enhance coexisting relations. The FTA is very important investment project between the two countries and for cooperation in industrial and agriculture sectors.

Source: Daily News Egypt