Russian investors eye Ethiopia’s energy, innovation, and trade sectors

Addis Ababa, February 5,2021 (FBC) – State Minister Tsion Teklu received at her office today a delegation of Russian investors from St. Petersburg city.

State Minister Tsion thanked the investors for making Ethiopia an investment destination and said this is a good gesture to cement the already strong relationship that exists between Ethiopia and Russia.

The State Minister spoke at length about the favorable conditions for investment in Ethiopia.

She pledged that the government would provide all necessary support to ensure that the Russian investors are successful in the sectors they decided to involve in.

The head of the delegation, Mark Ruslan, on his part, said he was delighted with the warm welcome accorded to the Russian delegation by several government institutions in Ethiopia.

He said his delegation had fruitful discussions with the Minister of Mines and Petroleum, the Minister of Trade and Industry, the Minister of Construction, Ethiopia’s Investment Commission, and the Ethiopian Chamber of Commerce and Sectoral Associations.

The delegation has decided to invest in three different projects, he said and has already agreed to work with sectors that work on Energy, Innovation, and Trade.

According to Ruslan, the investment group will start operations in Ethiopia in the next three months.

The group has business engagements in various countries, and it is actively involved in the tourism sector in Djibouti.