https://en.sputniknews.africa/20230423/best-place-sri-lankan-investors-promote-ethiopias-trading-appeal-1058798077.html
'Best Place': Sri Lankan Investors Promote Ethiopia's Trading Appeal
'Best Place': Sri Lankan Investors Promote Ethiopia's Trading Appeal
Sputnik Africa
In February 2020, the Ethiopian Embassy in India organized a forum where the ambassador spoke about the investment attractiveness of Ethiopia and invited Sri Lankan companies to establish their presence in Ethiopia.
2023-04-23T15:28+0200
2023-04-23T15:28+0200
2023-08-03T10:44+0200
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Sri Lanka investors have told the national press about the benefits of doing business with Ethiopia and why they want to expand their businesses there. According to Indochine Apparel Senior Compliance Manager Anoj Ranaweera, his company is Ethiopia's largest apparel exporter in three years.With the support of the Ethiopian Investment Commission, Ranaweera said that the company, which opened a business in 2016 at the Hawassa Industrial Park, intends to expand its business in the country. The Hawassa Industrial Park is a state-supported park in southern Ethiopia focusing on the manufacturing of garments, apparel, and textiles.Another businessman, Jay Jay Textiles Factory Manager Dilan Madashanku, remarked that Ethiopia has large investment opportunities and it is open to everyone. For his part, KMB Textile Consultant Managing Director K.R.W Bandara noted that the Ethiopian government offers many incentives to encourage investors and added that Ethiopia is a hub for Africa which investors can utilize. The director added that next month, members of the Sri Lankan delegation will be in Ethiopia seeking opportunities in logistics and transportation.Arla International Import and Export of Spices and Oil Director Roy Samathanam is exploring Ethiopia for opportunities in the agricultural sector and exports from there to Sri Lanka, he explained.Ethiopia and Sri Lanka established formal diplomatic relations in 1972. The Embassy of Sri Lanka in Ethiopia was officially opened in 2017, while Ethiopia's interests in Sri Lanka are represented by the Ethiopian Embassy in India.
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ethiopia, sri-lanka, east africa, investment, free trade, economy
'Best Place': Sri Lankan Investors Promote Ethiopia's Trading Appeal
15:28 23.04.2023 (Updated: 10:44 03.08.2023) Ethiopia's Embassy in India organized a forum in February 2020 in which the ambassador spoke about the investment attractiveness of the African country and invited Sri Lankan firms to establish a presence there.
Sri Lanka investors have told the national press about the benefits of doing business with Ethiopia and why they want to expand their businesses there.
According to Indochine Apparel Senior Compliance Manager Anoj Ranaweera, his company is Ethiopia's largest apparel exporter in three years.
With the support of the Ethiopian Investment Commission, Ranaweera said that the company, which opened a business in 2016 at the Hawassa Industrial Park, intends to expand its business in the country. The Hawassa Industrial Park is a state-supported park in southern Ethiopia focusing on the manufacturing of garments, apparel, and textiles.
"The infrastructure of the [Hawassa] park is very nice and the operators and the workers are very skilled compared to other countries," Ranaweera said. "We can therefore compete with other countries because they are very quick learners and educators."
Another businessman, Jay Jay Textiles Factory Manager Dilan Madashanku, remarked that Ethiopia has large investment opportunities and it is open to everyone.
"We are going to expand and I hope other investors will also come to Ethiopia because there is a very large workforce available. So, definitely, there are good opportunities for investment [in the country] and I hope other investors will come," the manager said.
For his part, KMB Textile Consultant Managing Director K.R.W Bandara noted that the Ethiopian government offers many incentives to encourage investors and added that Ethiopia is a hub for Africa which investors can utilize.
"I invite investors expecting to invest in Africa to invest here because Ethiopia is the best place," Bandara said.
The director added that next month, members of the Sri Lankan delegation will be in Ethiopia seeking opportunities in logistics and transportation.
Arla International Import and Export of Spices and Oil Director Roy Samathanam is exploring Ethiopia for opportunities in the agricultural sector and exports from there to Sri Lanka, he explained.
"I am planning to get more Sri Lankans here to do something. I am in exploration of business opportunities. I think Ethiopia is a very good opportunity. There are lots of opportunities here in different fields. This is the main point of Africa. I think this is number one. We should be focusing on this place on export," he pointed out.
Ethiopia and Sri Lanka established formal diplomatic relations in 1972. The Embassy of Sri Lanka in Ethiopia was officially opened in 2017, while Ethiopia's interests in Sri Lanka are represented by the Ethiopian Embassy in India.
