UAE investing $2.4 billion in #Ethiopia

[Deeq A.]

United Arab Emirates Special Envoy and Plenipotentiary Ambassador, Omar Hussain, has announced a significant investment exceeding $2.4 billion in Ethiopia. In an interview with the Ethiopian Press Agency, Ambassador Hussain detailed the substantial investments that the United Arab Emirates is presently channeling into Ethiopia, reaffirming their dedication to stimulating economic advancement.

Ambassador Hussain underscored the geographical proximity between the two nations, which are just a four-hour flight apart. He highlighted Ethiopia’s manufacturing capabilities and the Arab countries’ consumption capacity, positioning Ethiopia as an appealing market destination.

At the COP28 UN Climate Change Conference in #Dubai, the UAE committed to a $600 million investment in Ethiopia’s energy sector. During the summit convened in November 2023, Prime Minister Abiy Ahmed engaged in discussions with United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan, underscoring the imperative of collective action in addressing the challenges posed by climate change.

Qaran News