Austrian Delegation Lauds Ethiopia’s Economic Reforms and Investment Climate.

ADDIS ABABA: The pace and ambition of the economic reform taking place is very impressive to penetrate investment opportunities in Ethiopia, Elisabeth Hirschbichler who led an Austrian business delegation to Ethiopia said. Austria-Ethiopia Business Forum was held in Addis Ababa last week aimed at bolstering the economic ties of the two countries.

According to Ethiopian News Agency, Hirschbichler, who is also an advocate for female entrepreneurship, expressed her enthusiasm about the business opportunities in Ethiopia in an exclusive interview. Reflecting on her experience a decade ago, she highlighted her admiration for the country’s endowment and potential.

The delegation head emphasized the dynamic energy surrounding the private sector, which is attracting investors. Ethiopia’s significant economic reforms aimed at opening up the economy include the liberalization of the telecom sector, financial sector, trade, and logistics sector, among others, for foreign investors. Hirschbichler underscored the impres
sive pace and ambition of these economic reforms.

During her ten-day visit to Addis Ababa and other parts of the country, Hirschbichler noted the vibrant energy supporting the private sector and the numerous public sector initiatives. She believes the financial reforms in Ethiopia will enhance foreign investors’ confidence, presenting fantastic opportunities for engagement.

Ethiopia’s economic reform is drawing investors globally, offering a reliable business climate, Austria’s Ambassador to Ethiopia Simone Knapp recently remarked to ENA. The ambassador affirmed Ethiopia’s potential, not only due to its size but also its diverse sectoral opportunities.

In the past six years, Ethiopia has opened various sectors and sub-sectors for domestic and foreign investment, aiming to establish itself as a business-friendly nation through substantial legal and administrative reforms.