Maltese Companies Show Growing Interest in Ethiopia.

Ethiopia: Ethiopia's emerging investment climate and its ongoing macroeconomic reforms have been attracting potential Maltese companies, the country's Ambassador to Ethiopia Ronald Micallef said. In an exclusive interview with ENA, Ambassador Micallef stated that as Ethiopia implements significant macroeconomic reforms, Maltese businesses are recognizing potential in various sectors. A recent trade delegation comprising a number of Maltese companies explored opportunities in last April in Ethiopia, it was learned.According to Ethiopian News Agency, this interest highlights the potential for collaboration, as Maltese firms seek partnerships in promising sectors, the ambassador noted. He further stated that the renewed focus on Ethiopia comes as recent reforms in the country have generated optimism among Maltese investors. According to him, Ethiopia's inclusive reforms are signaling a more conducive environment for foreign direct investment."The reforms are really timely, important, and relevant. We had 15 companies visit Ethiopia in April 2024 and the general consensus was that Ethiopia is interesting, but these reforms are needed before investment can come here. We were very happy in July to hear of these reforms. We immediately informed companies in Malta, and already they are showing renewed interest in reactivating their connections with this country."The reforms in Ethiopia remain vital for Foreign Direct Investment, Micallef said, believing that those reforms have solidified and consolidated their belief in the economy of this country. The ambassador further indicated that a number of Maltese companies are looking at investment opportunities particularly in the health sector as a key area. In this sector, there is great potential not only in Ethiopia but across the region through Ethiopia, he indicated.He also expressed his country's desire to work together with Ethiopia in the spheres of AI and education. "Another promising area is artificial intelligence, where Maltese companies are actively explor ing its use in agriculture to protect water supplies. We are also pursuing partnerships in education, with Maltese institutions collaborating with entities in Ethiopia to develop important sectors like technical vocational education."Ambassador Micallef also commended the corridor development, crucial as the landscape of Addis Ababa has changed significantly, and he revealed that the capital is becoming a vibrant business hub to attract investment. Maltese companies have noticed these developments and they are exploring opportunities related to these changes, with a focus on details and investment, he pointed out. The establishment of the Maltese embassy in Ethiopia three years ago has fostered strong relations, marking Ethiopia as a key partner in Malta's Africa strategy, it was indicated.