ADDIS ABABA, ETHIOPIA – May 13, 2025 – Ethiopia is declaring itself "more open for business than ever" as it hosted the Invest in Ethiopia 2025 High-Level Business Forum (IIE-HLBF 2025) on May 12-13, 2025. The flagship annual event, co-hosted by the Ministry of Finance, the Ethiopian Investment Commission (EIC), and the Development Partners Group, gathered high-level government officials, global investors, development partners, and private sector leaders to position Ethiopia as a premier investment destination and unlock its vast untapped potential.

His Excellency Taye Atske-Silassie, President of the Federal Democratic Republic of Ethiopia, officially opened the forum, describing it as charting a bold and practical path built on partnership, innovation, and shared prosperity. The President highlighted the forum's role as a national endeavor to build a tradition of continuous deliberation to ensure policies evolve with investors' needs and critical inputs. He noted the transformative economic reforms undertaken over the past six years aimed at sustaining growth, attracting foreign direct investment (FDI), and driving structural transformation. These reforms are ensuring macro-financial stability, addressing regulatory barriers, and opening key economic sectors, including finance, banking, and telecom, to foreign investment, fundamentally reimagining Ethiopia's economic future.

The President underscored Ethiopia's strategic advantages, citing its position as Africa's second most populous nation with a dynamic market of 130 million people. He described Ethiopia as a growth engine surpassing the continental average and aspiring to be an entry point to global markets, aiming to become one of the top African economies by 2030. Attracting FDI requires unyielding leadership and execution, focusing on three fundamental requisites: a progressive regulatory framework moving from restrictive to open, infrastructure fitting global value chain compliance (including special economic zones, industrial parks, ready-to-use factories, enhanced tax incentives, and amended land use laws), and seamless connectivity via railway, road, and air services, with Ethiopian Airlines linking to over 130 global destinations. He highlighted leveraging regional and continental strategies like the African Continental Free Trade Area (AfCFTA), seeing it as an opportunity for the free movement of goods and communities across borders, enabling investors to benefit from this free trade area. The President urged investors to share "better practices" to tailor solutions to Ethiopia's context and foster continuous improvement. He invited attendees to see Ethiopia as a home for long-term partnership, friendship, and shared values.

His Excellency Ahmed Shide, Ethiopia’s Minister of Finance, highlighted the country’s strong commitment to an open, dynamic economy through comprehensive reforms initiated in 2018 under Prime Minister Abiy Ahmed. He emphasized the success of the Home-Grown Economic Reform Agenda, which has led to consistent economic growth, increased exports, higher government revenues, and doubled foreign exchange reserves. The reforms include liberalizing key sectors such as telecommunications, energy, banking, and retail, along with measures to improve macroeconomic stability, fiscal discipline, and legal frameworks.

Minister Ahmed Shide reaffirmed Ethiopia’s dedication to private sector development by offering attractive incentives and streamlining investment processes through digital platforms. He presented over $10 billion in investment opportunities across various sectors and affirmed the government’s resolve to address security concerns and other challenges. Concluding, he urged global investors to capitalize on Ethiopia’s improved business environment, stating that the country is now more open for business than ever.

Minister Ahmed Shide stressed the government's commitment to private sector development remains resolute. Ethiopia offers attractive investment incentives, including tax holidays and duty-free privileges. Enhanced one-stop-shop services through digital platforms aim to make investing faster and easier. Public-private dialogues held prior to the forum addressed critical investor concerns like customs, taxation, investment protection, and legal predictability, with a commitment to addressing these through a clear roadmap. Institutionalized dialogue will be sustained and deepened. Minister Ahmed Shide concluded by stating, "Ethiopia is more open for business than ever," urging global business partners to seize the moment and invest.

The Foreign Minister, Dr. Gedion Timothewoes, warmly welcomed participants to the Invest in Ethiopia High-Level Business Forum 2025, emphasizing the event's importance. He reflected on Ethiopia’s development journey, noting that while past growth relied heavily on public investment, the country has since 2018 embarked on a bold and comprehensive reform agenda under Prime Minister Dr. Abiy Ahmed’s leadership. These reforms are described as transformative measures aimed at tackling deep-rooted institutional and structural challenges.

He highlighted Ethiopia’s strategic advantages, including its prime location in the Horn of Africa, providing access to markets across the Middle East, Europe, Asia, and the continent. With a population of over 130 million, Ethiopia offers a vibrant domestic market and a large, dynamic workforce. The country’s economic reforms, under the Home-Grown Economic Reform Agenda launched in 2019, have fostered macroeconomic stability, with steady growth, controlled inflation, and strengthening exports.

Significant strides have been made in liberalizing key sectors such as telecommunications, logistics, energy, banking, retail, and wholesale, deepening investor confidence. The government is committed to improving the investment climate by enhancing transparency, reducing bureaucratic hurdles, and strengthening legal frameworks. Attractive incentives—like tax holidays, duty-free privileges, and export incentives—are available, complemented by digitized one-stop-shop services designed to make investment easier. Ethiopia also presented a curated portfolio of investment opportunities valued at over $10 billion.

Addressing investor concerns related to security, property rights, taxation, logistics, and regulatory issues, the government has engaged in ongoing public-private dialogues and is dedicated to resolving these through clear, actionable measures. The initiative aims to sustain and institutionalize regular communication with the private sector.

His Excellency Dr. Zeleke Temesgen, Commissioner of the Ethiopian Investment Commission, underscored Ethiopia’s central location in Africa, large domestic market, abundant talent, and access to affordable, clean energy. He also highlighted ongoing reforms since 2018, including liberalized sectors and improved investment laws, aimed at creating a more attractive business environment.

Mr. Wim Vanhelleputte of Safaricom Ethiopia praised Ethiopia’s telecom sector liberalization, marking the country's commitment to a competitive, innovative economy. Safaricom has invested over $2.5 billion, expanding digital infrastructure and services, demonstrating investor confidence.

Development partners, represented by Dr. Leander Basull and Ambassador Joshua Taba, reaffirmed their support, noting Ethiopia’s rising FDI to $3.9 billion in 2024 and emphasizing the importance of targeted investments in key sectors to foster inclusive and sustainable growth. They highlighted Ethiopia’s strategic advantages and acknowledged existing challenges like security and regulatory issues, committing to work collaboratively with the government and private sector.

The forum features sessions focused on exploring investment opportunities and addressing obstacles, with the goal of advancing Ethiopia’s economic development. The event is co-hosted annually by Ethiopia’s Ministry of Finance, the Ethiopian Investment Commission, and the Development Partners Group, aiming to strengthen partnerships and attract sustainable investments.

About the Invest in Ethiopia High-Level Business Forum 2025: The IIE-HLBF 2025 is a flagship annual event co-hosted by the Ministry of Finance, the Ethiopian Investment Commission, and the Development Partners Group. It brings together global business leaders, investors, policymakers, and development partners to explore investment opportunities, discuss policy reforms, and foster partnerships in Ethiopia.