The Ministry of Trade and Industry has discussed with the Malaysian investors
OBN April 23, 2019- The Ministry of Trade and Industry has met the delegation of the golden African company managing directors to invest the opportunities of edible oil potential capacity in the country.
During the meeting, the Ministry of Trade and Industry minister Mrs Fetlework G/Egziabher has said that 90%of the edible oil supply is imported from foreign countries.
Her excellence adding to that it is timely and appropriate in this sector due to the fact that the country has huge consumption of edible oil.
As the people living standard increases the consumption of edible oil choice of preference increases including in the rural areas.
So investing in the sector will lead you to profit. We have strong priority package for the investors who invest in the manufacturing sector.
The golden African managing director Mr Fouad Hayel said that his company is keen to invest in the Ethiopia.
He stressed that Ethiopia is peaceful, much labor, it near to the Djibouti harbor makes Ethiopia a good place for investors .
Mr Fuad stressed that his company has the highest technology, financial capacity and well-organized logistics supply chain.
Mr Fuad believed that the company will be operational in two years time and it will create 1500 job opportunities for the community.
The ministry of Trade and Industry state Minister his Excellency Mr Teka Gebreyeses stressed that the country has strong demand for edible oil.
Therefore, the company must not worry about the price of the oil because the country spends a lot of its currency for importing oil.
Having said that the country has strong tariff protection for investors who invest in the import substitute products as the Ministry of Trade and Industry Communication Affairs Director reported.