Norwegian Ambassador Jens Petter Kjemprud met with Director General Abi Woldemeskel on February 4th, as part of preparations for a conference on Development and Business, to be held in Oslo on the 12th of February. The title of the conference is “Africa, the continent of opportunities,”, and two countries are in particular focus, namely Angola and Ethiopia. (Read more in Norwegian only at http://www.innovasjonnorge.no/TP_fs/Bistand/NBK%202010/20100111%20Program%20til%20brosjyre.pdf)
In the meeting, Ato Abdi highlighted the positive developments regarding economic growth the last five years, and referred to the Ethiopian system allowing 100% ownershipin a number og investement areas for foreigners. Among these are agriculture and agro-processing, as well as hydropower, hotels and tourism.
The “One stop shop” services from Ethiopian Investment Agency have the following services within the following timeframes:
Issuance of investment permit: 4 hours; principal commercial registration: 4 hours; Issuance of work-permit: 1 hour; Issuance of business license ; 4 hours, as well as other swift services.
Export fields of particular interest from Ethiopia to Norway are coffee, roses, honey and leather products. Norway has competence on Hydropower which could be of great value to Ethiopia. Ato Abdi highlighted agro-processing as an area where Ethiopia was much in need of foreign investment. Foreign investors from Germany and the UK have been fending well in Ethiopia within leather-business, such as the ARA footwear factory in Addis, and the recent takeover of the Ethiopian Tannery by UK business Pittards (http://www.ibtimes.co.uk/articles/20091130/pittards-buys-ethiopian-tannery.htm
Read more about the EIA at :http://www.ethiomarket.com/eic