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General Electric (GE), a U.S. company, expressed its commitment to invest in priority areas of Ethiopia.
During a week-long visit to Ethiopia, a delegation of high level GE executives met with Tedros Adhanom (Dr.), Minister of Foreign Affairs (MoFA), to discuss possible areas for investment. Tedros spoke to the delegation led by Shane Fitzsimmons, Chief Financial Officer for Global Growth Operations at GE, about the country’s current status and prospects, according to reliable sources.
The Minister explained the government’s investment policies and strategies.
He also mentioned possible investment areas for GE, including Ethiopian Airlines and the railway networks. He also informed the delegation about significant export opportunities for companies operating in the country.
The Growth and Transformation Plan (GTP), the country’s five-year development strategy, was also discussed at length by the two parties. The delegation asked the Minister the secret of the country’s success in the health sector. Tedros said Ethiopia’s success in the sector is attributable to the government’s political commitment and the setting up of a clear roadmap. A focus on primary health also contributed to the success, according to Tedros.
The delegation, which is on a tour of Ethiopia, Kenya and Tanzania to explore market opportunities, later confirmed the company’s interest and commitment to invest in the country’s priority areas.
Tedros told the GE delegation that it would be mutually beneficial if the company decided to invest in manufacturing, tertiary health services, energy, and other fields of interest.
General Electric is one of the biggest conglomerates in the world and is engaged in aviation, transportation, energy, healthcare, oil and gas, and the provision of financial services. The company, which opened a local office back in 2011, is among the world’s top five companies with annual revenues of USD 150 billion.