Ethiopia’s Prime Minister Abiy Ahmed has made a strong pitch for investment from BRICS nations, highlighting his country’s recent economic reforms and strategic advantages during the BRICS Business Forum in Moscow.
Speaking via video link to the plenary session, Mr. Abiy emphasised Ethiopia’s potential as an investment destination, citing the country’s natural resources, agricultural potential, and recent shift to a market-based foreign exchange system.
“Ethiopia’s rapidly growing economy presents tangible opportunities for investment, collaboration, and trade,” he told the forum, which represents Brazil, Russia, India, China, and South Africa.
The Ethiopian leader outlined several attractions for potential investors, including access to African and global markets through Ethiopian Airlines, growing renewable energy capacity, and a young, skilled workforce. He also highlighted the recent liberalisation of state-owned sectors, including telecommunications.
Mr Abiy called for BRICS nations to establish new financial institutions that better serve developing economies, arguing that existing global financial structures have fallen short.
The prime minister identified manufacturing, agriculture, renewable energy, mining, ICT, and tourism as key sectors for potential investment, aligning with Ethiopia’s development strategy and the BRICS 2025 economic cooperation framework.
The appeal comes as Ethiopia continues to implement significant economic reforms, including the privatisation of key state enterprises and the adoption of market-based foreign exchange policies.