African countries, namely Ethiopia are looking to draw in foreign investments, said Ali Bahraini, the Iranian ambassador to Ethiopia. Ethiopia is granting five-year tax breaks to foreign companies that set up stores in the East African country, and has announced that it will not impose any tariffs on imports and exports by those foreign companies. “It will also provide affordable 45-year land lease agreements for such companies.” Bahraini said that manufacturing in Ethiopia means companies can sell their products to other African nations as well, giving them access to a large export market.
