Egyptian investors eye hiring law firm to represent investments threatened by Ethiopian conflict

CAIRO – 22 December 2020: A law firm will be hired to represent Egypt before international arbitration against the Ethiopian government to protect $10-million of Egyptian investments in the country.

Alaa el-Sakty, vice chair of the investor union and head of the Egyptian industrial zone in Ethiopia, told Youm7 on Tuesday that he is looking for an international attorney office to handle the issue after he met with representatives of the Ethiopian embassy in Cairo on Wednesday and no progress was made regarding Egyptian investments in Ethiopia’s Tigray, where an armed conflict is ongoing.   

Sakty asked the Ethiopian diplomatic staff when workers could safely return to their factories after a four-month halt, but they failed to give a time frame.

The staff, instead, spoke of benefits and incentives to investing in Ethiopia, although current investments are threatened by the conflict and there is no available contact with the factories therein, he said.

The Ethiopian embassy had called for the meeting with investors who have businesses in Ethiopia to discuss enhancing their investments in the country.