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Saudi Arabia vows to further investment in Ethiopia

Saudi arabia ethiopia relations
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Saudi Arabia has recently demonstrated firm commitment to establish enormous investment in Ethiopia.

Prime Minister Hailemariam Dessalegn received a Saudi delegation led by Abdurahaman Bin Abdlmuhisin Alfadly, Saudi Arabia's Minister of Environment, Water and Agriculture at the end of last week.

On the occasion, Prime Minister Hailemariam said Ethiopia is keen to export value-added products in general and products of agriculture in particular, adding that the export-oriented agricultural investment areas should better be geared towards the generation of huge employment opportunities. Ethiopia, the Premier said offered huge potentials for investment in areas of livestock and vegetable development among others.

Saudi Minister of Environment, Water and Agriculture Abdurahaman said "we believe Ethiopia has huge potential manly in agricultural investment." The Saudi Minister further disclosed an Ethio-Saudi joint team will be established to oversee feasibility studies on the proposed sector

The Saudi delegation also conferred with Ethiopia's Minister for Farming and Natural Resources, Dr. Eyasu Abrha and discussed on the possible ways of attaining 100,000 hectares to invest on alfalfa, a special animal forage and livestock processing undertakings.

Dr. Eyasu stressed on the fact that Ethiopia has aspired to become middle income economy by 2025 by making use of an inclusive growth and resilience instrument as priority areas of concern. He added Ethiopia's Second Growth and Transformation Plan (GTP II) has identified agricultural sector as a crucial area for economic growth and industrial sector development.

The Saudi delegation also demonstrated interest to conduct feasibility study on the nation's agro-ecology which has a vital element to the implementation of the project.

Dr. Eyasu Abrha further underlined that investment projects including the Saudi Project would play a fundamental role in creating plenty of jobs, generating hard currency, improving the sectors and opening market for smallholder's livestock.

Saudi Arabia has an age-old business-to-business, people-to-people, cultural and religious bonds with Ethiopia while a formal diplomatic engagement was established in 1948.

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