Egyptian investors resort to int’l arbitration over businesses harmed in Tigray’s conflict

SourceEgypt Today
SectorEconomy
CountryEgypt

Forces fighting in Tigray in Ethiopia - REUTERS CAIRO – 8 February 2021: Negotiations between Egyptian investors and the Ethiopian government are heading to a dead end, with regard to the existing Egyptian investments in Tigray region, where an armed conflict has been ongoing since November 2020.   The Ethiopian side has set conditions that their Egyptian counterpart should come to Ethiopia to negotiate this dispute, but the Egyptian side rejected due to the lack of guarantees.     The arrangements have not witnessed any guarantees that an agreement can be reached and satisfy both parties. That’s why Alaa el-Saqty, vice president of Investors Union and head of the Egyptian Industrial Zone in Tigray region, refused the condition of traveling to Addis Ababa for negotiations.   “The Ethiopian side has not put any clear frame for negotiations, and there is no hope in any negotiations efforts amid the absence of ...read more...