On August 24, 2018, within the framework of the state visit of President Tran Dai Quang and his wife to Ethiopia and Egypt; Ministry of Planning and Investment [...]
On August 24, 2018, within the framework of the state visit of President Tran Dai Quang and his wife to Ethiopia and Egypt; The Ministry of Planning and Investment, the Ministry of Industry and Trade of Vietnam and the Ministry of Foreign Affairs of Ethiopia co-chaired the Vietnam - Ethiopia Economic Discussion at the Hilton Hotel, Addis Ababa City with the desire to promote trade and investment activities to Ethiopia, especially in areas where both sides have the need and ability to cooperate such as: oil and gas, telecommunications, information technology, agriculture, agricultural product processing, food, textiles and garments, footwear, mining, energy, and consumer goods production. use…
This is the first visit of the Head of State of Vietnam to Ethiopia, an important historical milestone in the two countries' relationship after 42 years since the establishment of diplomatic relations in 1976. The visit is expected to create many new cooperation opportunities and new visions for business and investment cooperation between the two countries.
The Vietnam - Ethiopia economic discussion had the participation of the Minister of Planning and Investment, Minister of Industry and Trade, Minister of Foreign Affairs of Ethiopia, President of the Ethiopian Chamber of Commerce and more than 300 delegates from businesses of the two countries in the fields of consumer goods production, construction materials, textiles and garments, mechanical engineering, agriculture,...
At the Seminar, businesses asked many questions to better understand the law and business investment policies in Ethiopia. After the discussion, businesses from both countries connected and exchanged information according to each production field: energy, mechanics and automation, agriculture, services and trade.
With a population of over 103 million people, Ethiopia is a large market, with fast growth prospects, low costs, and is also an abundant labor market, meeting human resource requirements for cooperation and development. With its location in the center of Africa, with the headquarters of the African Union (AU) located in the capital city of Adi-Ababa, Ethiopia is an ideal place to connect with African countries.
Based on policies to attract foreign investment, measures to open the market and encourage investment cooperation that Ethiopia is implementing recently such as: privatization of some fields, encouragement and attraction of foreign investment in special economic zones...Foreign investors investing in Ethiopia are exempt from tax for up to 10 years, and are exempt from import tax to create fixed assets. regulations and incentives in joint venture activities with Ethiopian enterprises, etc.
On this occasion, the Ministry of Planning and Investment of Vietnam also signed an MOU on investment promotion cooperation with the Ethiopian Investment Commission, in order to create the most favorable conditions for the business communities of the two countries to explore commercial investment opportunities in each country; At the same time, he discussed with the Ethiopian counterpart the draft Agreement on Investment Promotion and Protection with the desire to soon negotiate and sign this Agreement, creating a legal basis for the initial cooperation between the two countries.
The Vietnam - Ethiopia economic discussion is considered an opportunity for businesses of the two countries to seek and share new cooperation opportunities and new visions in the context of the special good relationship between the two countries.
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