Ethiopia is open to investment from India in the dairy products, chemicals, healthcare, leather and textile sectors according to Genet Zewede Ethiopian Ambassador to India, speaking at the opening of the honorary consulate in Chennai.
Ethiopia is engaged in raising awareness in the health sector and would welcome investment in generic pharmaceuticals to meet the demand created by 80 million people said Ambassador Genet.
Ethiopia is expected to show the third fastest economic growth in the world, after China and India, this year according to forecasts from the World Bank she noted.The country hopes to enhance the role of industry in the national economy to develop into a middle income economy over the next 10-15 years according to Ambassador Genet.
Several Indian firms are engaged in the agriculture, mining, leather and leather products and the manufacturing sector added Genet.
The Ethiopian Tourism Minister is expecte to visit India in a promotion drive she said.
Manikam Ramaswami, Chairman and Managing Director of Loyal Textiles Mills, was named Ethiopia's Honorary Consul in Chennai, for his committed investment in the Ethiopian textile industry.
Ethiopia is a popular destination for Indian investors because it’s very safe, transparent policies, free administration processes and Indian friendly people according to Rasmaswami.
Source: Walta Info
