“Time in Ethiopia” for South Korean Investors

Seoul, 18 April 2023 (TDI): A two-day event, the 2023 Ethio-Korea Investment Forum, was organized in Seoul with the theme “It’s Time in Ethiopia”.

The forum aimed to showcase Ethiopia’s vast investment potential and opportunities to Korean businesses.

During the forum, Daniel Tersea, the Deputy Commissioner of Ethiopian Investment, presented the country’s economic and investment incentives to potential investors.

He highlighted that Ethiopia currently offers a favorable investment climate, making it an ideal time for foreign investors to consider investing in the country.

Ambassador’s Remarks

Dessie Dalkie, the Ethiopian Ambassador to the Republic of Korea, spoke during the opening comments of the events. He emphasized the long-standing historical ties between the two countries.

He also mentioned the positive implication of this relationship of mutual economic ties in strengthening the relations.

Also Read: Ethiopian New Year and National Unity Day Celebrated in Islamabad

The Ambassador also emphasized that Ethiopia is the preferred foreign direct investment destination of Korean investors.

He stated that the availability of a wide range of incentives for foreign investors, as well as the implementation of economic reform, a supportive macroeconomic policy environment, and improved infrastructure are reasons for this.

Opportunities in Ethiopia
Dr. JOO Soryeong, Vice Chairman of the Korean Federation of Textile Industries, spoke of the previous ties between South Korea and Ethiopia.

She continued by saying that the association is devoted to maximizing the chances to benefit both countries and that they are aware of Ethiopia’s enormous potential.

More than 120 Korean business executives and investors attended the session to learn more about investment opportunities in Ethiopia according to the reports. The second day of the forum will be hosted in Busan, the country’s second-largest city.

Economic Cooperation between Ethiopia and South Korea

Economic cooperation with South Korea, mainly through trade and investment, benefited Ethiopia during the last few years. It improved the standard of living in the country through job creation, entrepreneurship, and technology transfer.

As a result, the investment environment improved which in turn helped the Ethiopian market to expand for South Korean products.