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Indian Investment in Ethiopia Growing

The rate of Indian investment in Ethiopia is increasing due to the ideal investment environment in the country. Successful Indian investors in Ethiopia are inviting others to join them said the Ethiopian Embassy in Ethiopia.

There are many Indian investors in Ethiopia engaged in investment projects such as agriculture, leather processing, agro-processing, mining and steel processing said Genet Zewede, Ethiopian Ambassdor to Ethiopia.

Four more Indian investors have been licensed to engage in sugar manufacturing, garment, cotton and denim production between the months of July and September she said.

Investment by Indian business people has also included investment in large scale commercial farms with more land given to investors from India than any other foreign investors.

In related news the Ethiopian Embassy in India has announced that it is to launch a Cultural and Tourism Center to introduce African culture to Indians in November 2012. It is expected that center is to be the first of its kind in India.

The center is to be an indispensable element to promoting African values and Ethiopian culture in particular according to Metasebia Tadesse, Counselor for Political, Public Relations, Public Diplomacy.

The cultural center built to promote Ethiopian culture will also be used to organize various African get together including for scholars and diplomatic delegates congregating for various purposes he said.

Source: Ethiopian News Agency

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