Fertilizer, cement, mining and steel manufacturers foresee investment as a Pakistan-based corporation Arif Habib Group shows interest. The delegation from the Arif Habib Group, under Muhammed Kashif, met with officials and the Ministers in the sector, where they discussed the business opportunities to support. Muhammed also discussed with Lelise Neme, head of the Ethiopian Investment Commission, how the incentive packages would create a favourable investment environment for the investors. The Pakistani Ambassador, Jemal Beker Abdula, said it would provide lucrative opportunities, a business-friendly environment, low production costs, and numerous incentives. Arif Habib Group was incorporated in 1994 with a paid-up capital of 1.6 million dollars and bagging 2.5 billion assets. With an initial public offering of one million shares, the company has engaged in financial services, industries, and real estate development. The ambassador also said Ethiopia has undergone a lot of transformation since Prime Minister Abiy Ahmed came to power with a vision to transform the country into a major investment destination. Five months ago, the Ethiopian Investment Commission introduced a slew of policy changes in favour of private investment after the Council of Ministers approved a regulation where investors enjoy tax exemptions and incentives from the federal government.
Loading your updates...