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Ethiopia: S. Korea Envoy Commends Ethiopia for Opening Up Key Investment Areas to Foreign Businesses

Addis Ababa — The Deputy Prime Minister and Minister of Foreign Affairs of Ethiopia, Demeke Mekonnen, received at his office, Hak Cheol Shin, the Special Envoy of the Foreign Minister of the Republic of Korean.

During their discussion Demeke expressed that it is a high time to strengthen the relations between Ethiopia and South Korea which is cemented by blood.

He also noted that it is essential to bolster the multifaceted bilateral relation of the two countries through mutual efforts and engagements.

Considering economic development and technological advancement of South Korea as well as niche higher education institutions, Demeke called for further cooperation in these areas.

He said, Ethiopians are keen to study in South Korean academic institutions.

In addition, he underscored the fact that Ethiopia is one of the major investment destinations of South Korea in Africa offering various investment opportunities and called upon South Korean business to invest in agriculture, manufacturing, mining, tourism and innovative solutions, which are the key priorities in terms of foreign direct investment.

The Special Envoy, on the other hand, expressed his country’s keen interest to further expedite ties including in the pharmaceutical manufacturing and agricultural sectors.

Shin also commended the efforts of the Ethiopian Government for opening up key investment areas to foreign businesses.

Hak Cheol Shin is Vice Chairman and Chief Executive Officer of LG Chem Ltd., the largest chemical company in South Korea, according to Ministry of Foreign Affairs.

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