Addis Ababa: Ethiopia has taken significant strides in promoting regional integration, according to Zimbabwe’s Finance, Economic Development and Investment Promotion Permanent Secretary, Andrew Bvumbe. He highlighted Ethiopia’s efforts in building the Grand Ethiopian Renaissance Dam (GERD) and advancing the regional energy pool as pivotal in strengthening ties within the Horn of Africa.
According to Ethiopian News Agency, Ethiopia’s role as a regional energy powerhouse is expanding, with electricity exports to Sudan, Kenya, and Djibouti poised to enhance economic growth and foster closer regional relationships. Bvumbe praised these initiatives, emphasizing their potential to integrate the region more effectively and connect with other regional communities.
Bvumbe also commended the Ethiopian Government’s efforts in implementing reforms, particularly in foreign exchange, macroeconomic stability, and improving the business environment. Since last July, Ethiopia has been pursuing a comprehensive macroeconomic reform aimed at achieving high and stable economic growth, maintaining single-digit inflation, and developing a globally competitive economic system. Bvumbe noted visible results, including increased investment and economic activities.
Having observed Ethiopia’s economic progress over the years, Bvumbe acknowledged the country’s vast opportunities, including a large market and an active entrepreneurial population. He specifically praised the development of industrial parks and special economic zones, describing them as impressive achievements. Ethiopia has promoted 10 industrial parks to Special Economic Zones (SEZs) to foster exports, specialize industries, and attract investment.
Bvumbe expressed that Zimbabwe is eager to learn from Ethiopia’s progress and share experiences, acknowledging the significant advancements made by Ethiopia in recent years.