Indian investors invited to join Agroprocessing, IT, energy sectors in Ethiopia

Addis Ababa, October 8, 2020 (FBC) – Ethiopian Embassy in New Delhi, India and the Indian Council of Trade and Industry held a webinar focused on reinforcing ties between the two nations in Foreign Direct Investment sector.

On behalf of Ethiopia, State Minister of Ministry of Foreign Affaris, Tsion Teklu, Ethiopian Ambassador Extraordinary and Plenipotentiary to India, Tizta Mulugeta and Vice President of Ethiopian Trade and Sectoral Assocaiton Council, Engineer Melaku Ezezew have highlighted the Indian side on potential investment areas and related activities being carried out to facilitate conduce atmosphere for foreign investors.

The state Minister Tsion Telu briefed the Indian side that the government of Ethiopia has been undertaking various activities in line with attracting foreign investment upgrading qualities of export items and facilitating conducive atmosphere for foreign investors.

She noted those Indian investors who have been engaged in various manufacturing business in Ethiopia are contributing their share for the growth of the investment sector of the nation.

Ethiopia has been striving more than ever before to address bottlenecks in the investment sector, Tsion said, citing the approval of investment law as one of the measures measure being taken accordingly.

Tsion underlined that the Ethiopian government will accommodate all the necessary incentives for Indian investors who are interested to participate in the agroprocessing, Information Technology (IT), energy and power supply, pharmaceuticals, textile and garment sectors.

Ambassador Extraordinary and Plenipotentiary of Ethiopia to India, Dr. Tizta Mulugeta explained that Ethiopia has been endowed with peace, conducive investment policy, immense natural resources she holds has made Ethiopia a suitable Foreign Direct Investment Destination.

An African Affairs Assistant Secretary at Indian Foreign Affairs Ministry, Nagma Malik, recalling the recent phone discussion between Prime Minister Abiy Ahmed and his Indian Counterpart Narendra Modi, said India has a big interest to work closely with Ethiopia in the economic and other cooperation areas.

She said her government is committed to motivate Indian investors to respond to invitation from the Ethiopian government.

There are more than 600 Indian investors in Ethiopia engaged in several investment areas.