Prime Minister Abiy Ahmed stated that investors from BRICS member countries will be profitable if they invest in Ethiopia, during his video message at the plenary session of the BRICS Business Forum in Moscow, Russia.
He highlighted that BRICS member countries represent nearly half of the world's population and are experiencing rapid growth in their Gross Domestic Product (GDP). He emphasized that this significant potential can bring tangible change and sustainable growth to the global economy. To harness this potential, Prime Minister Abiy stressed the need for BRICS to actively participate in global economic issues, leading to meaningful work that steers the world towards a better path.
He pointed out that global financial institutions have not established institutions that engage with developing economies, leading to shortcomings in efforts to achieve sustainable economic growth. He urged financial institutions to expand structures that benefit everyone equally, and emphasized that BRICS should set an example by establishing such structures among its member countries.
He further emphasized that BRICS should become a model for fair global economic growth by establishing financial institutions that promote equitable economic benefits not only within its member countries but also in other developing nations. He highlighted that Ethiopia's rapidly growing economy presents tangible opportunities for investment, collaboration, and trade, particularly for BRICS countries.
Prime Minister Abiy emphasized that Ethiopia possesses vast natural and agricultural resources, providing access to African and global markets. He stated that these resources, coupled with the support of Ethiopian Airlines, a leading African airline, create immense opportunities.
He added that Ethiopia's rapidly growing and capacity-focused renewable energy supply, combined with its young and skilled workforce, makes it an attractive destination for investment. He mentioned that Ethiopia has recently implemented significant economic reforms, including opening up key state-owned institutions like telecommunications to the private sector, making it more attractive for business activity.
He also highlighted Ethiopia's recent adoption of a market-based foreign exchange system, creating a favorable environment for foreign direct investment. He stated that these reforms aim to make Ethiopia a competitive player in the global market and ensure investors reap the benefits of their investments. He invited BRICS member countries and global investors to seize this opportunity.
He encouraged BRICS member countries to invest in Ethiopia's manufacturing, agriculture, renewable energy, mining, ICT, and tourism sectors, which possess significant potential for innovation and growth, contributing to mutual development. He assured that Ethiopia is ready to implement the 2025 BRICS member countries' economic cooperation strategy, aimed at ensuring the economic, social, and environmental growth of BRICS.
He noted that this strategy aligns with Ethiopia's development strategy, which focuses on ensuring food security, promoting industrialization, and implementing environmental protection measures. He concluded by urging BRICS member countries to develop a joint strategy to address the global challenges of uneven development, unemployment, and inequality.