Café Africa

Ethiopia calls for more Italian investments and project financing

Posted by Café Africa on 15 luglio 2012 · Lascia un commento 

Ethiopia is projected towards a future of development no longer characterized almost exclusively by agriculture, but also towards industrial activities targeted to the large domestic market (over 80 million people) and regional expansion. For this purpose the country is strongly committed to develop a network of appropriate infrastructure, in terms of energy production exported to neighboring countries, but also of roads and railways.

During the meeting between the Italian Minister of Foreign Affairs, Terzi, and the Ethiopian Deputy Prime Minister, Desalegn Hailemariam, it was explained the areas where the Italian presence is sought: textiles, leather and footwear, agribusiness and agro-processing and meat-processing. Furthermore, the possible direct investment in machinery and mechanical engineering. The field of constructions is already well developed and Italian companies have been known for decades, an example is the Salini Group, that has made and is making some strategic construction works for the development of the country.

The major problem for Italian entrepreneurs who wants to invest in Ethiopia – and beyond – is the fierce competition from China, not only in prices but also in the financing schemes. On this point, the Ethiopian government recognizes the difference in quality and reliability in the works constructed by the Italians and technologies provided, but advocates greater use of innovative tools, such as those of “project financing“, which would be able to facilitate the integration of Italian business.