Saudi Companies Express Interest in Investing in Ethiopia

Addis ababa: Saudi Arabia-based Jo Drinks Factory and Soil Roasters, companies operating in different sectors, have expressed their interest in investing in Ethiopia. A high-level Ethiopian diplomatic delegation led by Deputy Head of Mission at the Embassy of Ethiopia in Saudi Arabia, Ambassador Awel Wegris Mohammed, visited the two companies' production facilities located in the Second Industrial City in Dammam.According to Ethiopian News Agency, during the visit, Ambassador Awel briefed the companies' senior executives on Ethiopia's ongoing macroeconomic reforms, favorable investment policies, and the country's Integrated Agro-Industrial Parks (IAIPs), highlighting the investment opportunities available in Ethiopia. Jo Drinks Factory, a producer of non-alcoholic beverages, reaffirmed its strong interest in investing in Ethiopia. The company also expressed its intention to manufacture its products in Ethiopia for both the domestic and international markets, as well as supply Ethiopian Airlines.Soil Roast ers, which imports and roasts Ethiopia's specialty coffees-including Guji, Chelchele, Sidama Bombe, and Yirgacheffe-announced its decision to source coffee directly from Ethiopian producers and cooperatives, eliminating intermediaries in its supply chain. Ambassador Awel invited the executives of both companies to undertake an official pre-investment visit to Ethiopia to explore the country's investment opportunities firsthand. He also assured them that the Ethiopian Embassy in Riyadh stands ready to provide all the necessary support to facilitate their investment plans.The successful visit is expected to strengthen commercial ties between Ethiopia and Saudi Arabia by linking Ethiopia's agricultural and manufacturing potential with Saudi Arabia's investment capital and market opportunities, thereby further enhancing trade and investment cooperation between the two countries.