Millennium 2000

By Anteneh Mokonnen
Ethiopian Diaspora, Please come Home!
Ethiopians have bee migrating to the whole world some to escape poverty others seeking better life chased by the 17 year military government. It is estimated that there are 350,000 Ethiopians in Washington, 96,000 in Los Angeles, 90,000 in Saudi Arabia, 30,000 in Italy, 30,000 in Beirut, 20,000 in Ottawa-Canada, 10,000 in New York, and many in different countries. As kit is often said “problems are the sources of opportunities”, now these Ethiopians, who traveled to escape problems, ate becoming the hope of the country. Ethiopia is the midst of hope; Ethiopia’s economist, and 10% according to the Ethiopian government releases, this growth, which is confirmed by the World Bank, is much higher than the growth rate of the United States and Europe(2-3%), and close to the China’s and Indian’s economic growth rate which is 12% and 9.2% respectively. This growth is reflected in different ways such as construction is booming and the export sector attains highest record of 1.1 billion dollars in 2006. If not unforeseen circumstances such as weather and other factors come in to the way, the growth is expected to continue for the coming years, and if this growth continues as expected, Ethiopia will be the third country that will surprise the world after China and India in the economic growth. This is the perfect time for each Ethiopians much is expected from the Ethiopians Diaspora can contribute for their country’s development at least in three ways:
1. Foreign Currency Remittance
Each foreign currency sent by the Ethiopian Diaspora in addition to assisting loved ones also helps the economy. The foreign currency helps the country atleast in two ways: Financing import sector and increasing domestic production. From fertilizer used by farmers to the cars that are cramming the streets of Addis-all are bought using foreign currency; numerous foreign products that the Ethiopians are enjoying at low prices are the results of foreign currencies. Thus the amounts of foreign currencies sent by the Ethiopian Diaspora have a direct impact to affecting the day to day life of many Ethiopians.
In addition to assisting the import sector, foreign currencies remitted by Ethiopian Diaspora also contribute in increasing domestic production. It is evident that to facilitate domestic production, a country like Ethiopia has to import means of production such as machinery. For instance to increase efficacy and the amount of coffee production, textiles machineries ahs to be bought.
This could only done through the power of foreign currency, and each dollar sent by the Ethiopian Diaspora has an impact.
2Investment:
The next aspect that Ethiopian Diaspora could contribute is by making investments. Luckily many of Ethiopians are lived in the developed world in which accumulation of capital is relatively easy. This capital if it is invested in Ethiopia could bring tremendous change to the economy. Some positive trainds are being seen in this regard, the Ethiopian Diaspora step by step are engaged in the Horticulture-exporting flowers, others in construction, some are engaged in unique investment by establishing car assembly plants, which gave an example of the possibilities of establishing heavy investment in Ethiopia. The Impact of foreign investment in a country’s economy could be clearly learned from China. More than 50% of China’s annual totals, production are made by foreign companies operating in China. In other words, Investments coming from outside of china are contributing much to the country’s surprising economical development than domestic investments are doing.
Many western companies are also landing in different countries in the Asian continent seeking cheap labor and resources, which in return booms the Asian economy. In providing cheap labor and resources, Ethiopia also similar to Asian countries. With the cheap labor and resources available in Ethiopia also similar to Asian countries. With the cheap labor and resource available in Ethiopia, it is also possible to make a fortune, which in effect helps the economy by creating more jobs and increase in production. Ethiopian Diaspora utilizes such opportunity. By doing this they may hit two birds with one stone: making fortune for themselves and at the same time helping the economy.
3. Flow of knowledge:
The last but not least possibility is the flow of knowledge. Ignorance is the deadliest enemy of an individual and a country as a whole. Europe and the United States had scored tremendous development not because abundant resources, but because they paved the way for the abundant development of knowledge and wisdom, which is a key tool to change the country’s resources to the benefits of citizens. Many Ethiopian Diaspora while thy live in the developed world has access for such knowledge and wisdom which worth millions of dollars. There are not few Ethiopian Diaspora that specialized in Medicine Engineering, Management etc. and this is potential that has to be tapped to further develope the country’s economy. Such Diasporas should identify where thy fit in and should start affecting the economy.
To conclude, the above possibilities are the least opportunities that the Ethiopian Diaspora could contribute to their country; it is like taking a cup of water from Nile. Many assets are found within the hands of the Diaspora and many possibilities could be developed to affect this country positively. I believe that it is time to work hand in hand bring this country out of poverty. Ethiopia will be rescued from poverty and the that to happen will not be far away.