MoU that Boosts Transport, Logistics Investment Signed

Addis Ababa: The Ministry of Transport and Logistics signed a memorandum of Understanding (MoU) with Global Trade and Finance to boost transport and logistics investments.Alemu Sime, Minister of Transport and Logistics and KJ Lee, President of the Global Trade and Finance signed the MoU.During the occasion, Alemu said that the ministry is actively working to exploit and modernize investment potentials of transport and logistics in Ethiopia.The minister added that works are underway for exploiting the potentials of transport investment, the minister said, adding that the sector is lucrative for foreign investors.The ministry is keen to introduce lucrative investment opportunities to potential investors.According to Alemu, areas of investment include assembly and production of electric vehicles, logistics, railway, road infrastructure, and port development."We are confident that this agreement will encourage international institutions and investors to take advantage of Ethiopia's conducive investmen t environment," the minister said.KJ Lee on her part said that she has been attracted by the rapid growth and conducive investment climate in Ethiopia.Having visited several African countries, she noted that Ethiopia has seen rapid development growth.Accordingly, she will work to lure investors from various countries to come to Ethiopia and invest in various projects.Source: Ethiopian News Agency