June 15, 2012
The African Union announced that Addis Ababa, Ethiopia is amongst the most vibrant African cities offering a range of opportunities for Foreign Direct Investment.
The AU said that Addis Ababa has become very attractive for international business in an official publication put out in relation to the celebration of the 50th anniversary of the organizations founding.
The city offers a strategic location for investment and is implementing favorable policies and strategies including attractive incentives for potential investors said the publication.
The city administration is also taking steps to make Addis better and safer for investment purposes according to the AU.
The publication commented on the general peace and security within the country at large and the availability of cheap and plentiful labor which is a key element of the investment opportunities in the city and in the country.
Another feature of the city is that there is a considerable expatriate contingent representing many nations all coexisting in peace and in harmony said the publication.
Other elements of the city important for investment are its proximity to Port Sudan, Port Djibouti and Port Mombassa, with six road networks connecting Addis to other parts of the country and forming road links with Sudan, Djibouti and Kenya noted the AU publication.
Source: Ethiopian News Agency