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Breaking News in the Project Management World
Monday, October 13, 2008
U.S- Africa Infrastructure Conference Held in Washington D.C
Reported by Getachew Teklemariam Alemu Addis Ababa
More that 400 participants from the private and public sector of USA and Africa were in Washington D.C., from October 6-8, 2008 for a U.S.-Africa Infrastructure Conference, with a theme: Connecting the Continent. The corporate council on Africa (CCA) was the organizer of the conference with other governmental and private partners.
As indicated by the president and CEO of CCA, Stephan Hayes, "the conference will provide US companies with a blueprint on how to get highest return on infrastructure investment in Africa"
The discussions sessions, which were led by leading experts from the private and public sectors, were mainly focused on the potential growth and development dimensions within the infrastructure sector of Africa. They include potential investment opportunities in energy, transportation, construction, power, and ICT (Information Communication Technology) sectors while issues like safety, security, and social responsibility were focal points.
"By the time that the global capital market is getting tightened, Africa has seen significant increase in funding and economic growth" said Stephan Hayes of CCA. Hence, the orientation of U.S companies towards investing in Africa shall be re-structured in a way that they shall focus on partnership and sustainable development.
According to Getachew Teklemariam, an Infrastructure Projects Expert in Ministry of Finance and Economic Development of Ethiopia “ This is a critical time for U.S. companies to just sit down and thoroughly look into their policies towards the African infrastructure sector. As a reflection to the change in orientation of the global political economy, the Chinese companies are heaving the African infrastructure sector with their relatively generous investment, which left the internal politics aside. Even in the case where the risk factor for the investment is high enough to push other companies away, the Chinese companies do invest. In addition to the Chinese firms, the Indian and Japanese firms are also taking multi-million dollar infrastructure investments in Africa. The U.S companies are in fierce competition. Hence, they shall try to re-invent the wheel, and increase their presence in Africa if the intend to play their own part towards the political influence of the U.S. in Africa"
The conference also discussed the upcoming presidential election in the U.S. and its potential policy implications on Africa. For more on the conference have a look at www.africacncl.org
More that 400 participants from the private and public sector of USA and Africa were in Washington D.C., from October 6-8, 2008 for a U.S.-Africa Infrastructure Conference, with a theme: Connecting the Continent. The corporate council on Africa (CCA) was the organizer of the conference with other governmental and private partners.
The discussions sessions, which were led by leading experts from the private and public sectors, were mainly focused on the potential growth and development dimensions within the infrastructure sector of Africa. They include potential investment opportunities in energy, transportation, construction, power, and ICT (Information Communication Technology) sectors while issues like safety, security, and social responsibility were focal points.
"By the time that the global capital market is getting tightened, Africa has seen significant increase in funding and economic growth" said Stephan Hayes of CCA. Hence, the orientation of U.S companies towards investing in Africa shall be re-structured in a way that they shall focus on partnership and sustainable development.
According to Getachew Teklemariam, an Infrastructure Projects Expert in Ministry of Finance and Economic Development of Ethiopia “ This is a critical time for U.S. companies to just sit down and thoroughly look into their policies towards the African infrastructure sector. As a reflection to the change in orientation of the global political economy, the Chinese companies are heaving the African infrastructure sector with their relatively generous investment, which left the internal politics aside. Even in the case where the risk factor for the investment is high enough to push other companies away, the Chinese companies do invest. In addition to the Chinese firms, the Indian and Japanese firms are also taking multi-million dollar infrastructure investments in Africa. The U.S companies are in fierce competition. Hence, they shall try to re-invent the wheel, and increase their presence in Africa if the intend to play their own part towards the political influence of the U.S. in Africa"
The conference also discussed the upcoming presidential election in the U.S. and its potential policy implications on Africa. For more on the conference have a look at www.africacncl.org
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