Addis Ababa, February 23, 2022 (FBC) – The Industry Minister Melaku Alebel received a delegation from Moscow led by the Head of the Russian Central Research Institute of Ferrous Metallurgy.
On the occasion, the Industry Minister expressed gratitude to Russia for stranding with Ethiopia during several trying times.
Russia offered its full support to Ethiopia while some western powers were pressuring the country at the international platforms like the UNSC.
Melaku also briefed the Russian delegation that Ethiopia is implementing integrated national policies and strategies to alleviate poverty, ensure sustainable development and build democratic culture.
The government is working hard to create conducive environment that would help attract Foreign Direct Investment, the Minister noted.
“The key strategy of the country is focusing on industries which are labor intensive and having wide market; have broad linkages with the rest of the economy; use agricultural products as input; export-oriented and import substituting,” Melaku noted.
The Head of the Russian Central Research Institute of Ferrous Metallurgy Semenov Victor, for his part, said that Ethiopia is located in a good strategic position and this condition has created a golden opportunity to attract Foreign Direct Investment.
Russia, is one of world’s largest steel producing countries, Semenov Victor said, adding that Russian investors are ready to share their immense experiences and expertise to Ethiopians by investing in the steel and metal industry sector of the country.