10-year tax holiday offered to Pakistani industrialists investing in Ethiopia

Fostering economic ties between Pakistan and Ethiopia, Ambassador H. E. Jemal Beker Abdula unveiled an enticing offer for Pakistani industrialists during his visit to the Korangi Association of Trade and Industry (KATI). Abdula declared a 10-year tax holiday for Pakistani investors venturing into Ethiopia, coupled with the liberty for manufacturers to export and sell their goods in the local Ethiopian market.

Attended by a distinguished gathering including KATI President Johar Qandhari, Deputy Patron-in-Chief Zubair Chhaya, Senior Vice President Nighat Awan, Vice President Muslim Mohamedi, Honorary Consul General of Ethiopia Ibrahim Tawab, Economic Counselor of Ethiopia Kakidan Tadesse Tizazu and former Presidents Gulzar Firoz, Masood Naqi, and Ehtishamuddin, the event highlighted the burgeoning potential for bilateral trade.

Abdula underscored Ethiopia’s strategic positioning as a gateway to Africa, presenting lucrative opportunities for Pakistani industrialists to expand their global reach. With Ethiopia boasting 98% renewable and affordable energy, investors stand to benefit from minimised production costs and access to a market of 1.4 billion Africans.

Furthermore, Abdula announced an upcoming exhibition on May 26 to convene Africa’s major manufacturers under one roof, offering investors in Ethiopia access to cost-effective electricity.

Expressing optimism about the prospects of enhanced trade relations, President KATI Johar Qandhari lauded Ethiopia’s warm and welcoming reception of Pakistani trade delegations. He urged the government to facilitate bilateral trade initiatives, emphasizing the need for direct flights between the two countries to bolster commercial exchanges.

KATI Deputy Patron-in-Chief Zubair Chhaya highlighted the favourable conditions for Pakistani investors in Ethiopia, including low-cost renewable energy and potential tax exemptions.

Honorary Consul General of Ethiopia Ibrahim Tawab echoed the sentiment, stressing the untapped opportunities in Ethiopia’s market of 130 million people. He advocated for duty-free facilities and potential tax exemptions for Pakistani industrialists, a move that could significantly enhance their financial security and encourage their investment.

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