ADDIS ABABA – MIDROC Investment Group (MIG) has applauded the effort of the Ethiopian government to encourage local producers and the private sector via building their capacity to be successful in various engagements though some shortcomings are witnessed.
Speaking at an event, named ‘About Ethiopia,’ organized by The Ethiopian Press Agency at Dire Dawa City, MIG CEO Jemal Ahmed said what the government is working to encourage the private investor in various spheres is worth mentioning.
Jemal further noted that Ethiopians have been providing markets with a range of products directly following the favorable conditions created by the government. For example, Ethiopian coffee and other products are supplied to various markets by Ethiopians, whereas it is not common in the other African nations as foreigners provide them with. “MIG has taken the lead in terms of coffee exporting out of the industries operating in Ethiopia though the government has been playing a vital role towards this end.”
The movement called ‘Ethiopia Produces’ aiming at building manufacturing sectors capacity is a good will that enables the country to attract the foreign direct investment, and MIDROC is always ready to work with the government and other institutions to make a difference at national level.“Some shortcomings and gaps hindering the realization of private sector operation as expected are witnessed through the government has been striving to encourage the private investor.”
As to him, lack of adequate finance, foreign currency, unequal chance between the foreign investors and the domestic investors (the foreigner take a lion’s share in taking privileges) and the likes are the major problems that are attributable to the sluggish pace of domestic private sector operators.
Responding to Jemal’s concerns, Finance Minister Ahmed Shide also said the government has been carrying out reform targeting at lessening the challenges of the private sector in a sustainable manner. The minister also noted that the government is identifying the sectors which seriously question the foreign currency with a view to encouraging local producers.
BY MESERET BEHAILU
THURSDAY 26 MAY 2022
