India Business Forum has stimulated local investors to engage energetically in joint venture programs of India and Ethiopia in a bid to cement business ties as well as invite India investors to participate in home-grown business sketches of Ethiopia, so disclosed India Business Forum.
Mayur Kothari is a convener in India Business Forum. He is an investor who has been born and brought up in Ethiopia. The Ethiopian Herald approached Mayur Kothari, to ask for the activity of India Business Forum. He said that India Business Forum, through the various meetings that it arranges with visiting business delegations from India, provides and through setting platform for investors who are seeking joint ventures. Many of our member companies are joint ventures between Indian and Ethiopian companies. The Embassy of India has recently launched India-Ethiopia Innovation and Technology Commercialization Program as part of its effort to promote technology transfer to Ethiopia.
He went on to say that India Business Forum is privileged to be made a part of various assemblies organized by the Ethiopian government and other multilateral organizations where discussions are held to improve the ease of doing business in Ethiopia. Some of the important meetings that we have participated in are attending of homegrown economic reform forum which was enhanced by Dr. Abiy Ahmed Prime Minister of Ethiopia, and Consultation meeting with Ethiopia Investment Commission on draft investment law, investment and export logistics for accelerated economic transformation forum, among others.
He capitalized that this is a great opportunity for India Business Forum for the arrangement of public-private policy dialogue, conducted by Ethiopian Investment Commission, where periodic meetings were held with all foreign business forums to identify and streamline various challenges which were being faced by investors. This is a wonderful initiative which needs to continue.
“I am sure that with focused approach, which the government has, Ethiopia will be successful in improving its world ranking on the ease of doing business,” he added.
As to him, on the investment front, Indian investors were amongst the first foreign investors to invest in Ethiopia. As per reports of Ethiopian Investment Commission, India ranks among the top investing countries in Ethiopia and Indian companies are at the forefront in creating job opportunities for Ethiopians.
He said as, Indian investors have upright contribution to the tax collection in the country. Recently, at an award ceremony organized at the Presidential palace, the Ethiopian Prime Minister awarded 160 loyal tax payers which included banks and multinationals, in this list, I was really happy to see that 5 member companies of India Business Forum were recipients of such an award.”
He remarked that there are many Indian companies in Ethiopia which have engaged in diverse sectors. There are about Indian companies engaging in the activities of textile and garments, plastics and chemicals, pharmaceuticals, leather, agro processing, agriculture and floriculture, iron and steel, cement, hospitality, services, and among others. These companies are spread out in different geographic regions of the country. These companies have firmly established themselves and have earned a good reputation in their respective fields.
“I am content to state that our members are also undertaking numerous community services activities. Recently, members of India Business Forum donated 5 million Birr to the corona virus mitigation fund. he mentioned.
He indicated that India Business Forum members have whole heartedly supported various local administrations by extending in cash and in kind to hedlp the vulnerable community with healthcare products like sanitizers and soaps and food products. One of our investors has donated important Personal Protective Equipment, masks and among others, to the Ethiopian Embassy in New Delhi to support Ethiopian health care workers in fighting against the Covid-19 pandemic. Some of our investors have quickly geared up to manufacture products, like sanitizers, masks, face shields, and among others which are most essential to overcome the challenges of the current pandemic.
He further mentioned various Community Service activities like feeding programs, building of health facilities, blood donation camps, eco- Village programs, water wells, shelters for displaced people, Support to returnees, support to beautifying Sheger project by participating at Dine for Sheger fund raising initiated by the Prime Minister, Providing prosthetic implants like Jaipur Foot for people who have had amputations etc. are some of the activities which have been undertaken by our members.
He pointed out that the government of India has recently given a grant of 2 million USD worth of medicines and 100,000 books to Ethiopia. It is well known that India had sanctioned lines of credit worth more than 1 Billion USD for various sugar factories and power transmission lines. Recently, India had donated a 64 slice CT scan machine to Black Lion Hospital.
He remarked that there are some very impressive twinning programmes between Indian and Ethiopian institutes especially in the field of leather and textile where a lot of technological and knowledge sharing takes place. Many Ethiopian businessmen have availed of Indian government and trade body sponsored groups visit to various Industrial exhibitions and trade shows. Vocational training programs have taken place in the field of fashion designing, sericulture, rural based Solar Electrification and among other.
The Ethiopian Herald May 2/2020
BY MEHARI BEYENE
