Addis Ababa /ENA/ January 27/2023 The priority given to the private sector as the cornerstone of the country’s future would create huge opportunities for investors to come and invest in Ethiopia, the Eastern and Southern African Trade and Development Bank (TDB) senior advisor said.Thank you for reading this post, don't forget to subscribe!
In an exclusive interview with ENA, TDB Senior Adviser Reginald Max said Ethiopia has amazing potential for economic growth.
According to him, there is no other country in Africa that has reduced the poverty rates in the manner that Ethiopia has managed to do since 2004.
Therefore, people refer to the period from 2004 to 2018 as Ethiopian economic miracle, which has been cited in the Financial Times and other business publications across the world, he elaborated.
“So, when you look the development that has been taking place with the building of GERD, it demonstrates that the country has a serious intention to develop as a middle income country by 2030.”
With all other business opportunities that exist in this country, it creates huge opportunities for investors to come, Max noted.
Elaborating on the major factors for attracting investors, the senior adviser said the key issue is that the government has made private sector participation as the cornerstone of the future.
The development of the country to-date by and large has been public sector led, he stated, adding that the government has really controlled the economy and it has been the biggest contributor of the economy.
But, now the government realized that the private sector has to play huge role in the economic development of the country going forward, and that in itself speaks volumes, according to the senior financial expert.
The adviser explained further that every country that has moved from a long development paradigm always engaged the private sector as a key contributor to economic growth.
Commenting on the recent emergence of capital market in Ethiopia, Max pointed out that the creation of financial intermediaries in any market allows economic development going forward.
“I think that is going to be a key contributor alongside GERD and other key initiatives that are going to excel this country’s growth initiatives for the next 15-20 years.”