Indian investors say keen to engage in manufacturing sector in Ethiopia

Addis Ababa, November 22, 2023 (FBC) – Indian investors engaged in the pharmaceutical manufacturing expressed their interest to invest in the manufacturing at Kilinto Industrial Park, Addis Ababa, Ethiopia.

According to the Industrial Parks Development Corporation of Ethiopia (IPDC), the Indian business delegates expressed their desire after their visit in the premises of Kilinto Industrial Park. During their visit to the park, the delegates were briefed on the services, investment policies and incentives as well as the state-of-the-art facilities of the park.

IPDC’s deputy head of investment promotion and marketing department, Mr. Zemen Junedin, in his discussion with the Indian business people, noted that Ethiopia built the Kilinto Industrial Park to be suited for the pharmaceutical sector in pursuant to the priority placed on the sector.

He mentioned that the engagement of Indian investors is also growing in the country. The Deputy CEO also pledged that IPDC will provide all the necessary support to foreign and local investors.

For their part, the Indian businesspeople said that they were enticed by what they observed in the park. The eventually disclosed their keen interest to engage in the park.

It is to be remembered that the Indian business delegation led by Indian Economic Trade Organization president Dr Asif Iqbal. The delegation consisting of 18 members from different sectors expressed keen interest in investing in manufacturing (pharmaceutical, textile and apparel, chemicals) agriculture and agro-processing, ICT, health and other sectors.

Reassuring the commission’s full support, Ethiopian Investment Commission Deputy Commissioner Temesgen Tilahun briefed the delegates of the investment policies, priority sectors, and incentives to foreign investors in Ethiopia.

Kilinto Industrial Park is located in Addis Ababa in 279 hectares of land and was built for the pharmaceutical sector which is now hosting international and local investors and companies in the sector, IPDC stated.