Addis Ababa, August 15/2020(ENA)United Arab Emirates (UAE) firms are displaying rising curiosity in investing in Ethiopia, particularly with the financial reforms and liberalization being undertaken by the Ethiopian authorities, UAE ambassador to Ethiopia mentioned.

In an unique interview with ENA, Ambassador Mohamed Salem Alrashedi mentioned Ethiopia is a crucial funding associate for the UAE in East Africa because it has a big and rising client market of over 100 million folks.

The huge diversified assets and untapped financial potentials in lots of sectors similar to well being, clear power, know-how, and telecommunications are luring to UAE firms.

“With the economic reforms and liberalization undertaken by the Ethiopian government, the country has become a preferred destination that attracts foreign investment,” the ambassador added.

He famous that there are lots of UAE firms engaged in funding in Ethiopia, most notably Julphar Pharmaceutical Industries, Al Ghurair Aluminum Group, and Falcon Manufacturing unit.  

Based on Ambassador Alrashedi, relations between UAE and Ethiopia are historic and based mostly on belief, mutual respect and customary pursuits.

“The relations have in particular witnessed remarkable progress during the past few years after Prime Minister Abiy Ahmed assumed power in Ethiopia, which gave the relations more momentum to reach the level of strategic partnership,” he famous.

The 2 nations are cooperating in political, financial, social and safety, and improvement is among the main areas of cooperation specializing in empowerment of ladies and youth.

He identified UAE’s Khalifa Fund for Enterprise Growth (KFED) has signed 100 million USD settlement with Ethiopia to help and finance small scale and medium enterprises in Ethiopia, together with youth and ladies tasks.

Apart from, each nations have curiosity to strengthen people-to-people relations, particularly in social, cultural and tourism fields, and to discover new areas for cooperation that contribute to selling ties between the peoples.

Responding the worldwide coronavirus pandemic, “UAE has provided emergency medical aid to more than 45 countries, including Ethiopia,” he revealed.

Talking about future cooperation, Ambassador Alrashedi identified that the well being sector is among the primary areas of cooperation.

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