Ethiopia is not yet ready for foreign investments in its telecoms and banking sectors, but is interested in developing its manufacturing, Ethiopian President Mulatu Teshome Wirtu said on Tuesday.
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 decade-long push to change the economic focus from agriculture to manufacturing.
“Ethiopia is not ready yet for accepting investments in telecoms and finance,” Mulatu said during a joint news conference with his Polish counterpart Andrzej Duda.
“Our priority is manufacturing sector. Ethiopia opens door broadly for investments in manufacturing sectors such as textiles, skin products, pharmaceuticals, food processing, and agriculture,” Mulatu said.
READ MORE
Why Ethiopia and Eritrea are on edge of war again
Inside Ethiopia's single-use plastic ban
Report indicts African Union for failing to prevent, resolve conflicts
Ethiopia demands Eritrea 'immediately withdraw' troops from its territory
