Mekelle, Ethiopia, to Showcase Opportunities at Investment Forum on October 3, in Addis Ababa

Mekelle, Ethiopia (September 4, 2013) On October 3, Mekelle, the capital city of the Tigray Region of Ethiopia, will hold a forum in Addis Ababa to promote awareness of investment opportunities in and around Mekelle. Detailed profiles will be presented of opportunities in sectors as diverse as beekeeping and honey processing, production of animal feedstuff, manufacturing of pharmaceuticals and production of essential oils and extracts. Mekelle also offers opportunities in meat and dairy processing, industrial chemical production and textiles.

The Mekelle City Administration is organizing the forum, under the auspices of the Regional Partnership to Promote Trade and Investment in Sub-Saharan Africa, an initiative funded by the Government of Finland and implemented by the Millennium Cities Initiative (MCI). The forum will be held at the Harmony Hotel in the national capital, Addis Ababa.

Honorable Beyene Mekru, Vice President of Tigray Regional State, will officially launch the event and the Honorable Teweldebrhan Tesfalem, Mayor of Mekelle City, will deliver the welcome speech. “We are dedicated to making Mekelle an economic hub, not only in northern Ethiopia, but in the Horn of Africa,” he said. “The City of Mekelle is ready to welcome investors and help them find success in our city.”

MCI Director Dr. Susan M. Blaustein, who will speak about MCI and its objectives, expresses her hope that the event will increase awareness of Mekelle’s many advantages among investors, both across Ethiopia and abroad. “Mekelle has made tremendous strides in improving its social and economic environment in recent years. These improvements, coupled with the many viable investment opportunities in the city and region, will continue to attract new business. Investors will certainly want to pay attention to this promising city.”

Located 780 kilometers north of Addis, Mekelle offers an extensive commercial market, including a regional market of nearly 5 million people and a wider Ethiopian market of over 84 million. Mekelle’s industrial zone, which offers serviced land at extremely low rates, already houses 250 companies active in such areas as pasta manufacturing, medical equipment, paint and textile manufacturing, tile and dimensioned stone, to name a few.

Ethiopia’s economy is one of the fastest growing in Africa. Since 2003/4, its average annual GDP growth has been around 10 percent. As a result, the country is expected to become the third largest economy in Africa within the next 10 years. Further, the growth of GDP is linked with the growth of population, and Ethiopia already ranks among Africa’s most populous nations. These developments bring numerous potential market opportunities to companies and entrepreneurs from many sectors.

The seminar is free of charge, but space is limited. To reserve a place, please contact Mr. Nega Kebedom, Project Assistant, at kebedomnega@gmail.com or +251911623176. For in-depth information on Mekelle’s investment opportunities and business climate, see Invest in Ethiopia: Focus Mekelle. For more about the Millennium Cities Initiative, see mci.ei.columbia.edu, or email MCI.