ADDIS ABABA – The Embassy of India to Ethiopia and India Business Forum (IBF) highlighted the available business opportunities for Indian investors in Ethiopia yesterday. On the occasion, Ethiopian Ministry of Foreign Affairs (MoFA) State Minister, Tsion Teklu acknowledged the important role and contributions made by Indian investors and businesses to the economic growth of Ethiopia.
She highlighted that India is one of the top investors in Ethiopia and 617 Indian companies registered with the Ethiopian Investment Commission (EIC) employ about 75,000 workers in Ethiopia. State Minister listened to the issues raised by Indian investors and assured them of early resolution. Ethiopian Trade and Industry State Minister Ambassador Misganu Arega highlighted the opportunities in Ethiopia and encouraged IBF members to facilitate more investments from India.
He assured that the Ministry of Trade and Industry stands committed to Indian investors in Ethiopia. Ethiopian Investment Commission has clarified investment opportunities in Ethiopia and priority sectors identified by the government were made by the commission. Representative of the Ministry of Mines also highlighted that there is huge potential of the mining sector.
For his part, Indian Ambassador to Ethiopia Robert Shetkintong said that the two countries have strong bilateral relations mentioning the business and economic aspect of the bilateral relations as very important. Despite the COVID-19 pandemic, there were 35 new Indian investment projects during the last one year. He commended India Business Forum for actively facilitating Indian investments in Ethiopia.
In his remarks, India Business Forum Convener Mayur Kothari mentioned the active initiatives of the India Business Forum in bridging Indian investors with Ethiopia. India Business Forum was established in 2005 and is celebrating its 15 years of service facilitating Indian investors in Ethiopia.
IBF continues to provide a platform for dialogue with various Ethiopian authorities and facilitates networking amongst Indian investors. IBF holds periodic meetings with dignitaries and officials of the Federal Democratic Republic of Ethiopia, Presidents of the Regional States, Ethiopian Investment Commission and also with banks. IBF has also signed a MoU of Cooperation with Ethiopian Revenue and Customs Authority.
The Ethiopian Herald May 27/2021
