{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Government initiatives attracting Ethiopians abroad back home to invest' data-url='/boclips/videos/5c54bc86d8eafeecae12d516' data-video-url='/boclips/videos/5c54bc86d8eafeecae12d516' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nGovernment initiatives attracting Ethiopians abroad back home to invest\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eAddis Ababa - Recent1. Zoom in to Tadiwos Belete, owner of Boston Partners PLC, at his Boston Day Spa hair salon in Addis Ababa, Ethiopia2. Various Tadiwos Belete cutting client's hair3. Close up scissorsKuriftu - Recent4. SOUNDBITE:...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eAddis Ababa - Recent\u003cbr/\u003e1. Zoom in to Tadiwos Belete, owner of Boston Partners PLC, at his Boston Day Spa hair salon in Addis Ababa, Ethiopia\u003cbr/\u003e2. Various Tadiwos Belete cutting client's hair\u003cbr/\u003e3. Close up scissors\u003cbr/\u003eKuriftu - Recent\u003cbr/\u003e4. SOUNDBITE: (Amharic) Tadiwos Belete, Boston Partners PLC :\u003cbr/\u003e\"The reason that I came back to Ethiopia was because I saw a gap that needed to be filled. The opportunities are immense here, more than anywhere else. But most importantly, I wanted to change the image of my country.\"\u003cbr/\u003eAddis Ababa - Recent\u003cbr/\u003e5. Wide of Boston Partners Building\u003cbr/\u003e6. Close up sign outside of building\u003cbr/\u003eKuriftu - Recent\u003cbr/\u003e7. Wide of Kuriftu Spa and Resort Hotel\u003cbr/\u003e8. Various of Tadiwos Belete at Kuriftu \u003cbr/\u003e9. Lady having manicure at Kuriftu Spa and Resort Hotel\u003cbr/\u003e10. SOUNDBITE: (Amharic) Tadiwos Belete, Boston Partners PLC :\u003cbr/\u003e\"The international community has to come out of associating Ethiopia with famine and hunger and starvation all the time. For so many reasons the country is changing and things are moving forward. We are really trying to change the image of Ethiopia - we're trying our best to become 'the best' in whatever we're doing. It may take time but noticeable changes are already taking place. The whole country is basically under construction and I think you'll be able to see a big difference here in the coming three to four years.\"\u003cbr/\u003eAddis Ababa - Recent\u003cbr/\u003e11. Various of Yoseph Asrat, CEO, Ethio-Canadian Business Group\u003cbr/\u003e12. Various of building construction in Addis Ababa \u003cbr/\u003e13. SOUNDBITE: (Amharic) Yoseph Asrat, CEO, Ethio-Canadian Business Group :\u003cbr/\u003e\"I feel that this is the right time to be in the construction industry because over the next five years, the government has allocated more than 40 billion Ethiopian Birr ($4.5 bn USD) for road construction.  Spending that much money in upgrading the infrastructure in this country means that a lot of other things will be improved too: new buildings, offices, hotels, schools and all the other things related to construction. Through my success and the opportunities I have found, I encourage other Ethiopians to come back home and invest their money - it's  good for our country and for themselves.\" \u003cbr/\u003eKuriftu - Recent\u003cbr/\u003e14. Various of Kuriftu Spa and Resort Hotel\u003cbr/\u003eAddis Ababa - Recent\u003cbr/\u003e15. Various of Fesseha Tesfu, Acting Director General for Ethiopian Expatriate Affairs (Ministry of Foreign Affairs) in office\u003cbr/\u003e16. Cutaway of hands\u003cbr/\u003e17. SOUNDBITE: (Amharic) Fesseha Tesfu, Acting Director General for Ethiopian Expatriate Affairs (Ministry of Foreign Affairs) :\u003cbr/\u003e\"The government is trying to involve people in the diaspora not only in the investment sector or to remit their money in the country in foreign currency - but also we want 'knowledge transfer'. We want people to share the skills they've acquired and the experiences they've had. That's just as important for the government and the country and we're strongly encouraging it.\"\u003cbr/\u003e18. Various of road construction \u003cbr/\u003e19. Various of building construction\u003cbr/\u003e20. Wide of high rise building\u003cbr/\u003eKuriftu - Recent\u003cbr/\u003e21. Various of Tadiwos Belete at Kuriftu Spa and Resort Hotel\u003cbr/\u003eAddis Ababa - Recent\u003cbr/\u003e22. SOUNDBITE: (Amharic) Fesseha Tesfu, Acting Director General for Ethiopian Expatriate Affairs (Ministry of Foreign Affairs) :\u003cbr/\u003e\"People like Tadiwos, who's come back to his country and invested a lot of money, are obviously very important to us. He can be very useful in many ways, by first of all telling us about any challenges he faced in returning, what were his difficulties? We can then learn from that information and experience through them communicating with the different government institutions we've set up. Secondly, when they go abroad and meet other Ethiopians expatriates, they can talk and explain what the problems and benefits were and encourage them to return.\"\u003cbr/\u003eKuriftu - Recent\u003cbr/\u003e23. Pan of lake at Kuriftu Spa and Resort Hotel\u003cbr/\u003e24. Various of Tadiwos Belete at Kuriftu\u003cbr/\u003eThere are estimated to be up to two million Ethiopians living abroad, according to the Ethiopian Ministry of Foreign Affairs.\u003cbr/\u003eBut now the Ethiopian government is now trying to entice the Ethiopian diaspora, scattered across numerous continents, back home. \u003cbr/\u003eUsing a range of incentives it's encouraging them to invest in the country - but not just with hard cash, with their brain-power as well. \u003cbr/\u003eTadiwos Belete is a keen businessman.\u003cbr/\u003eThe 43-year-old fled Ethiopia in the early 1980s after the communist Derg regime overthrew Emperor Haile Selassie.\u003cbr/\u003eAged just 17 he escaped to Sudan but later found refuge in the United States where he opened up two hair salons.\u003cbr/\u003eAfter 23 years in Boston, Massachusetts and numerous trips back to Ethiopia, he decided the time was right to return home where he has set about building his own 'business empire'.\u003cbr/\u003eTadiwos Belete says from abroad he could see there were lots of opportunities for him in Ethiopia.\u003cbr/\u003eThe entrepreneur now owns 'Boston Partners PLC'. \u003cbr/\u003eIn just four years he's built the 'Boston Building' in Addis Ababa and which is home to the 'Boston Day Spa' - said to be the first 'luxury-style' business of its kind in the country.\u003cbr/\u003eBelete then plunged \"several million US dollars\", with his partner, in to this new project: the Kuriftu Spa and Resort Hotel, 50 kilometres (31 miles) outside Addis Ababa. \u003cbr/\u003eTadiwos says many of his Ethiopian friends abroad are ready to come home.\u003cbr/\u003eHe says that interest in Ethiopia as an investment opportunity is long overdue as the country has moved on from its troubled past.\u003cbr/\u003eOne of the entrepreneurs making the most out of this construction boom is Yoseph Asrat. He lived in Canada for nine years and decided to come back to Ethiopia five years ago.\u003cbr/\u003eHe said his timing was perfect to get in to the construction business - as people joke Addis Ababa is itself one big construction site.\u003cbr/\u003eThe Ministry of Foreign Affairs says between 1.5 and 2 (m) million Ethiopians are living abroad including in North America, Europe and the Middle East. \u003cbr/\u003eIt believes they've invested up to US$800 million over the last five years in a variety of sectors such as construction, tourism, real estate and transport. \u003cbr/\u003eBut Fesseha Tesfu, the acting director general Ethiopian Expatriate Affairs department (in the Ministry of Foreign Affairs) doesn't want investment to mean just cash.\u003cbr/\u003eThe government's offering a range of incentives to encourage Ethiopians to return, including free land to build on, tax breaks and duty-free importation for equipment. \u003cbr/\u003eIt's even set up committees specifically designed to interact with the diaspora as well as with Ethiopians who've already returned.\u003cbr/\u003eThe government says it has learnt from these 'interactions' and accepts that it needs to cut down on bureaucracy and market itself better to potential investors.\u003cbr/\u003eTesfu says they are hoping to use people like Tadiwos to act as a kind of 'ambassador' to encourage his compatriots abroad to follow his lead.\u003cbr/\u003eThe government says the Ethiopian diaspora has as an equally important role to play in the development of their country as the Ethiopians living at home.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv 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