BY GOSHU MELSEW
The European Union (EU) has reaffirmed its commitment to supporting investment in Ethiopia and encouraging European businesses to invest in the country.
The EU ambassador to Ethiopia, Roland Kobia, has stated that the EU will continue to promote investment opportunities in Ethiopia.
He also highlighted the longstanding relationship between the EU and Ethiopia, noting trade between the two has reached 2.5 billion dollars over the past two years, with Ethiopia's exports to Europe increased by 6%.
Undertaking a study, the European chamber in Ethiopia has introduced policy briefs with recommendations for attracting more investment, including improvements in customs, taxes, and access to land.
Challenges such as foreign currency deficiency and political instability have been identified as obstacles for investors by the chamber, and the Ethiopian government has been urged to address these issues.
However, the Ethiopian customs commission has rejected the study presented by the European chamber, stating that it does not consider the reality on the ground.
Stakeholders have held panel discussions to explore solutions for sustaining investors, attracting foreign direct investment (FDI), and mitigating the foreign currency shortage.