Ethiopian policies have for the past two decades restricted foreign businesses from trading in the country’s local market. Recently, Prime Minister Meles Zenawi admitted to the market’s negative outcomes having been dictated by the wrong policies.
After efforts to draw Ethiopia’s attention to its inflexible market policies by the country’s foreign partners, Ethiopian Prime Minister Meles Zenawi highlighted the Horn of Africa nation’s situation in front of a delegation of businessmen and women last Thursday.
Mr. Zenawi had invited heads of businesses to explain the chaotic state of the local market as a result of bad business practices. “We refuted our foreign partners’ advice because we care (...) for our nascent businesses,” the PM said.
According to the PM, his government’s aim was to boost the financial capacity of local businesses and empower and encourage them to invest more whilst restricting the market from foreign businesses’ interference. A free and open market in Ethiopia "would be a challenge to our traders to compete with the elephants."Read More
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