Writing on the subject of Mohammed Hussein Ali Al-Amoudi is a dicey proposition. The chances are my treatise may be scrutinized for a hint of criticism by his loyal cadres of beneficiaries or subject to ridicule, scorn or worse - as a solicitation of funds - if it is deemed as currying favour to Al-Amoudi.
 

Either way here goes.
 

I had really wanted to go forward with my usual plug for the Diaspora and its value to the development of the country we all share. I have argued that those who hold the reins of power need to tap into the vast potential of our sisters and brethren scattered across the globe. This notion has not always been a popular conviction, given only lip service at fall jamborees held by the Foreign Ministry but seldom followed by concrete actions that bore any fruit.
 

In fact, conflicting signals had been sent by other ministries; witness the flip flop on the tax incentives once given to encourage returnees. This policy has degenerated to the point that even some investments that were clear beneficiaries of various incentives have been gutted beyond recognition, especially when it comes to vehicles.
 

Regardless of the reasons that led to this, the clear result is that the utility of this carrot as an enticement is gone and foreign-based Ethiopian emissaries have fewer goods to work their magic with.
 

In spite of the policy environment and with the ever-increasing engagement of the pioneering Diaspora returnees in the Ethiopian economic and investment spheres, clear and tangible results are coming to the fore.
 

The energetic, enthusiastic Eleni Gabre-Madhin (PhD) and her team of returnees from the United States have seen the creation of a commodities exchange. This was significant enough to merit coverage by a television network from the US.
 

The dynamic group of Ermyas Amelga and company in creating Access Capital Services, Access Real Estate and even a single branch bank, Zemen; introducing an innovative banking service to Ethiopia is a noteworthy contribution. Zemedeneh Negatu has indigenized management consulting and became a tireless promoter of foreign direct investment (FDI) to Ethiopia, another feather in the hat for the Diaspora camp.
 

The list is long and growing longer by the day.
 

There is, however, one man among the Diaspora that has elevated and so captivated the Ethiopian investment field that he is a living legend of sorts. Over the past decade the Ethiopian landscape and city-scape has seen sizable changes because of his singular achievements. Conversations about him are seen to be as ubiquitous as our coffee ceremonies.
 

Whether extolling his generous virtue, his ostentatious lifestyle, his grand parties or just his down-to-earth demeanor, or - from a personal perspective - his wit or personal charm, his characteristics have become regular conversation items.
 

Although the 2005 election and his, in my view, ill-advised injection into them have somewhat cooled this public image, he still remains a person of immense public interest. The existance of the media's ad-hoc accusations, criticisms, innuendos and sometimes malicious attacks indicates that the Al-Amoudi handle is still a bankable topic.
 

What I am attempting to put into context with my general theme of "Diaspora contributions to Ethiopian development" is that Al-Amoudi is the epitome of the native who went abroad and has now come back to give back to Ethiopia. His myriad of investments and dealings in Ethiopia are too numerous for me to elaborate in this small piece. Suffice it to say that there is not a major economic sector in which this man has not put an imprint on.
 

Idle chatter about the wisdom of some of these investments aside, he nevertheless is injecting precious resources in upgrading the capacity of key sectors like mining, banking, tourism and agro-industry, just to mention a few.

I do not think anyone would argue the magnificent job the MIDROC Technology Group, under the able management of Arega Yirdaw (PhD), has done in bringing the extraction of gold in Ethiopia to the 21st Century.
 

I also want to add that not only are we witnessing the injection of FDI in the case of MIDROC Technology Group but also in the introduction of corporate discipline, and technology exchange. My hat is off to Arega for his quiet, disciplined but persistent efforts at steering the massive but sometimes chaotic investments of Al Amoudi with a vision of creating maximum impact.

The recent foray into large-scale agriculture that Al-Amoudi is actively promoting and his commitment to bring many Saudi investors along as witnessed by his conversations with King Abdullah of Saudi Arabia and the subsequent conference and exhibition at Millennium Hall showcasing many potential investors, has left me awestruck.
 

This is a remarkable and brilliant strategic move many of us in the business community long for. We have been waiting for serious resource movement from countries of the Gulf Cooperative Council (GCC) from across the Red Sea to Ethiopia. The balance of trade has been hugely in favour of the GCC.
 

It is high time that this situation is adjusted. Any kind of economic ties with the Middle East is long overdue and this is a highly fortuitous time for it to happen as this region is plush with cash.
 

The huge sovereign funds (over a trillion dollars) of the United Arab Emirates, Kuwait and the Kingdom of Saudi Arabia (maybe the largest one yet), are great resources to tap into as they look to diversify their portfolio and gain secure sources of food.
 

This, if it comes to fruition, will be Mohammed's greatest contribution yet as it promises tangential trade benefits by attracting investments in infrastructure, telecom, tourism, and other sectors. A favourite line of Mohammed in some of his speeches is, "There is more to come."
 

Indeed, his contribution in catalyzing cascading investments may well surpass his role as the lone "angel investor" into this high potential yet difficult investment environment, called Ethiopia.
 

For all the faux pas that some may attribute to Al-Amoudi, I believe there is one thing that can bring all to a universal agreement. He, unquestionably, has changed the Ethiopian business scene for the better. He continues to drive many Diaspora, on the fence about investing in Ethiopia, to take a closer look at home. I hope that he will succeed in steering some of the GCC money this way as well.