Diaspora Forum

Diaspora-Strong Force to Move the Economy

Due to the accumulated wealth of knowledge, capital and technical expertise over the years during their stay abroad, the Diaspora is in better position to engage in investment activities. The accumulated wealth of knowledge and expertise in different fields will undoutdly enable them to play a reasonably significant part in bringing the desired speedy economic development .In line with this, the government has been taking measures to create conducive investment atmosphere for the Diaspora.

Through the conducive measures the Diaspora is not only making business, they are also becoming an engine to the national effort of promoting investment.

Accordingly, those Ethiopians who have both the will and the Capacity has been immensely contributing to the nation wide efforts of democratization and economic development.

Their contribution has been expressed in the form of knowledge and technology transfer, technical and financial assistance. But above all the investment that they are making returning from their host countries has a significant contribution considering the low level of economic development that our country finds it self in. In addition to this, the Diaspora can play a role in encouraging foreign investors to invest in Ethiopia and they can also look for markets for Ethiopian products in their host countries. 

Over the past five years, from June 1998-December 2003, 808 members of the Diaspora invested a total capital of Birr 6,429,416,048.00. The sectors on which they invested include Agriculture, Construction, Education, Health, Hotel and Tourism, Manufacturing, Real estate and other business related investment areas which are identified as priority areas by the government.

This is indicative of how the Diasporas’s becoming an engine in stimulating the economy.

The investment that they are making beyond creating employment opportunities is helping the Diaspora establish a strong bond with the country of their origin.

The Diaspora’s contribution is showing a marked increase in all investment sectors. Following is a table showing area of investment the Diaspora has engaged in from June 1998-2003 and the total amount of capital invested in each sector. 

If this self-initiated effort of the Diaspora is supported by all concerned bodies, it will undoutdly enhance their contribution. In this regard, the government has more than ever given due   emphasis to support the Diaspora use their potentials in building the country.  

But to extricate our country from abject poverty and backwardness while capitalizing on the results so far achieved, we need to speed-up our efforts towards fully utilizing the Diaspora’s potentials as a moving force of the economy. 

The main reason for the attachment of the Diaspora with their native country has to do with economic relations. This has its own advantage: they can look for potential investors and they can also search markets for Ethiopian products, beyond investing themselves. For the realization of this even much more targeted and coordinated effort would be vital. 

To coordinate and guide the self-initiated activities of the Ethiopian Diaspora, there is a need to develop a profile, which contains the list of the Diaspora and their field of capabilities.

This will enable us to identify areas on which we should concentrate. On top    of   that, the Diaspora becomes a strong constituency in the efforts of democratization and economic development. More than ever, there is now a need to use the potentials of Ethiopian Diaspora to the economic benefits of the country.

Although encouraging results have been registered so far, still there is a possibility to maximize the benefits. To this end, concerned bodies especially the Ministry of Foreign Affairs and the different missions abroad have to bolster their efforts.    

Seyoum; Political LandScape Changing 

Foreign Minister Seyoum Mesfin said entrenching democracy  is indispensable the survival as a nation.While conferring with American Congressman from Californian Mike Honda seyoum said the political landscape is changing for the better.Poverty is the main challenge of the country, he added, of the government is exerting maximum effort to change the face of EthiopiaThe unprecedented May 15, 2005 election is a sign for Ethiopia is on the right track of democratization.Seyoum also underscored that Ethiopia is committed to resolve the Ethio-Eritrea border despute through peace full means. Congressman Hand on his part said his visit have enabled him to witness the Socio-Economic development in Ethiopia. During the discussion, he pledged to work together defending Ethiopia in the congress.

US would work with Ethiopia  in its effort of poverty reduction, he said.

He said the first ever free election was an indication of Ethiopia's determination for Democratic development.

MoFED: Debt cancellation crucial MDGs.                  

The Ministry Finance and Development says debt cancellation byG-8 countries help Ethiopia to meet Millennium   Development

Goals  (MDGs).

Public Relations Service Head with the Ministry Getachew Admasu told MoFA Newsletter canceling debt owned by Ethiopia accelerates efforts to meet MDGs dead line.

Ethiopia benefits from the proposed debt relief ,he said, it reached completion point of economic reform.

The Ministers backed an agreement that calls for over 4.4Billion dollar debt cancellation for Ethiopia.

"Ethiopia ows only 1.36 billion dollar when the debt is written off" he added.

He further noted that Ethiopia redirects fund used for debt repayment to health care education, among others.

He added Finance Ministers from the world wealthiest nations have agreed debt relief for 18 nations including 14 sub-Saharan countries.

G-8 Head of States met in Scotland July 6-8,2005 to discuss the accord signed by the Finance Ministers. 

Association call for Sustainable Tourism

Ethiopia Tourist operators Association (ETOA) calls for sustainable tourism development.

In an Interview with NoFA News Letter Association General manager Lulsegd Bekele said it is working closely with the government to bring about sustainable tourism development in Ethiopia.

The association is working with Tourism Commission, Ethiopian Airlines, and Ministry of Foreign Affairs and other in situations in image building.

He added it displayed various tourist attraction ceners through video slide and photos in different countries.

Peace and stability in Ethiopia have end baled tour operators to benefit from the sector.

The Ethiopia Tour operation Association was established in 2003.