Volkswagen company loses interest on Ethiopia’s investment
Germany car maker company, Volkswagen will not invest in Ethiopia if the Ethiopian government does not make legal reforms
Following the political change program in Ethiopia five years ago, the company announced its intention to build a car assembly plant.
However, so far the company has not made any investment activities in Ethiopia
Onur Yell, head of the economic, cultural and press department of the German Embassy in Addis Ababa, said that the company is interested in investing in Ethiopia, but if the law regarding electric cars is not passed, it has no intention to come.
“The company want to have a clear law regarding electric cars,” said Onur Yel.
“There is a shortage of foreign currency in Ethiopia. These companies come with foreign currency. They should be able to withdraw their money whenever they want,” said Onur Yel and pointed out that the Ethiopian government should make legal reforms.
Ethiopia has a great potential resources and required to make legal reforms to attract investors, he added.
The organization said that they faced a big challenge at customs to get the participants from Germany to bring the participants to the exhibition and conference called Made in Germany – Africa this week and to import the goods for the exhibition.
