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Ethiopia seeks More Foreign Investments in Manufacturing Sector



Ethiopian President Mulatu Wirtu said on Tuesday his country was not yet ready for foreign investments in its telecoms and banking sectors, but interested in developing its manufacturing sector.
Wirtu made the call during a joint news conference with his Polish counterpart Andrzej Duda in Warsaw.
The country, which has one of the last state telecoms monopolies on the continent, has let foreign companies including fashion chain H&M set up factories in a push to change the economic focus from agriculture to manufacturing.
“Ethiopia is not ready yet for accepting investments in telecoms and finance.
“Our priority is manufacturing sector. Ethiopia opens door broadly for investments in manufacturing sectors such as textiles, skin products, pharmaceuticals, food processing, and agriculture,” Wirtu said.