A Minister and Special Advisor to the Ethiopian Prime Minister, Dr. Arkebe Oqubay, believes encouraging more foreign direct investments into the country will impact on the local economy, as capacity of skilled locals will be enhanced.
For him, it is critical to create an ecosystem; and providing additional support mechanisms and targeting professionals working in the factories to gradually graduate and set up their own firms remain the two key strategies to spur growth.
Furthermore, he stated that even though multinationals repatriate remittances, they are also bound to build local capacity by training locals who in turn will break away and set up indigenous business or companies to boost the industrialisation drive.