Addis ababa: The Ethiopian Diaspora Service has disclosed that it is making policy amendments to enable the diaspora community to benefit more effectively from Ethiopia’s economic development. This announcement highlights Ethiopia’s commitment to integrating its diaspora into the nation’s growth trajectory.
According to Ethiopian News Agency, Diaspora Service General-Director Fitsum Arega stated that the current diaspora policy, which was established thirteen years ago, requires updates to reflect the numerous changes in the country’s economic, social, and political landscape. Over the past seven years, significant reforms have been implemented to foster an economy that is beneficial to both Ethiopians and external stakeholders.
Arega emphasized that a study conducted in partnership with higher education institutions identified existing gaps in the policy. The recently launched Homegrown Economic Program II further underscores the necessity for these amendments. Additionally, Ethiopia’s evolving capital market, which enables the diaspora to invest in their preferred sectors from abroad, is a key consideration in the policy redesign.
As Ethiopia continues to be one of Africa’s fastest-growing economies, Arega urged Ethiopians living abroad and foreigners of Ethiopian descent to seize this opportunity to enhance their investment involvement. He highlighted the Ethiopian Diaspora Service’s commitment to ensuring that the diaspora community contributes to and benefits from Ethiopia’s economic progress through strategic economic diplomacy.