Ethiopia: Japanese investors attracted by stability and nearness to the Middle East

Addis Ababa (HAN) August 27, 2015 – Investment and labour market news. Japanese investors attracted by stability, Cheap labour, various investment opportunities and nearness to the Middle East market.

CrownPrinceAkihito_EmperorHaileSelassie
Meeting of Haile Selassie and Crown Prince Akihito in November 1955.

Since the fall of Mengistu Haille mariam, Japanese investors were interested to invest in Ethiopia and utilize the untapped potential, visiting Japanese business delegation leader, Hirotaka Ishihara, said.

Cheap labour, various investment opportunities, stability and nearness to the Middle East make Ethiopia favourable for investment, he added.

Some 70 percent of the total population of Ethiopia is less than 30 years old and this shows that the country is reach in labour, he said.

Most of Japanese companies are also attracted to Ethiopia because of ‘its geographical location, which is near to the Middle East’ and this makes supply of products to that area easy, the leader explained.

Japanese companies have best practices in energy, technology, electricity, capacity building and human development.

State Minister for Industry, Dr. Mebrhatom Meles explained investment and business opportunities, policy options and incentives as well as opportunities in entering U.S and European markets to the delegation.

It is Ethiopia’s desire that Japanese companies invest in priority areas of the country, like manufacturing and agriculture, he said.

Agro-processing, renewable energy, textiles and construction are the major areas the country wants Japanese companies to be engaged in, he added.

Shunichi Ohara, Senior Assistant to Chief Executive for Africa at ITOCHU Corporation, told ENA that the company is exporting Ethiopian coffee and sesame to Japan and other countries.

The company has plan to invest in Ethiopia in the manufacturing industry and food processing and export to the U.S using the African Growth and Opportunity Act (AGOA), he added.

The 50-member Japanese business delegation is in Ethiopia to explore business and investment opportunities in the country.

Mitsubishi, Sumitomo Corporation, Toyota Tsusho, BMC International and other giant Japanese companies are included in the delegation.

 

Photo: Reportage from the Trade and Investment Seminar in Ethiopia hosted by Japan – Addis Ababa Aug 2014


 

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