Prime Minister Hailemariam told the 9th Indian Business Forum in Addis Ababa on Wednesday (October 29) that India was among the leading countries in terms of generating foreign direct investment in Ethiopia. While this was encouraging, he also said, he would like to see more Indian investment in Ethiopia and he investors to engage in priority areas of the government, including, textiles, leather and agro industries. He said that abundant natural resources, cheap labor, political stability and nearness to Middle Eastern markets as well as with access to European markets should make Ethiopia a favorable investment destination for world class companies.
The Prime Minister, who extended his condolences to the people and government of India over the accidental death of six Indian workers at the Fincha Sugar Project, emphasized the role of the Indian Business Forum in Addis Ababa in helping to increase knowledge of the untapped business and investment opportunities. The Indian Ambassador to Ethiopia, Ambassador Sanjay Verma said Indian companies would continue to take part in the ever growing Ethiopian economy with its GDP now reaching US$55 billion. He welcomed that the long established diplomatic tie between the two countries were now expanding into areas of trade and investment.
source: AllAfrica
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