Dubai has been climbing the ladder of economic prosperity during the past thirty or so years. Recently a small city in the United Arab Emirate (UAE) , Dubai, has secured the opportunity to host the upcoming World Expo in 2020.
In relation to the 2020 Expo, and eying more business ties, the Dubai Chamber of Commerce and Industry is joining hands to promote the expo. Last week, Hassan Al Hashemi, vice president of international relations for the chamber, was in Addis Ababa to confer with the East and Southern African countries' diplomats. In addition to improving business ties with the region, he has a mission to prepare Africa for the Dubai expo.
On that occasion, Al Hashemi sat down with Birhanu Fikade of The Reporter to discuss Dubai business community's interest in Ethiopia and its challenges. Excerpts: The Reporter: I understand that you [members of the Dubai Business community] are showing interest in Ethiopia's banking and telecom sectors. Did you approach the government in this respect?
Hassan Al Hashemi: What we have been hearing from the business community in Dubai is that there is a lot of potential in Ethiopia. Surely, we can bring a lot of know-how to these sectors that you mentioned. But the banking sector needs to be opened to foreign investors. It's an important sector. I know from our members that they are very much interested to be able to set up representations in the banking industry. I know the telecommunication sector as well interests them . Our major telecom operator, Etisalat, is very much interested in the Ethiopian market. We understand the policy of the government; and we respect it. According to the our member businesses, there is a lot to improve in those industries like the retail trade, telecommunication, and banking. More specifically, Islamic banking modality is very important to the market.
source: www.allafrica.com