Envoy sheds light on lucrative investment opportunities in Ethiopia at World Trade Expo
Addis Ababa, October 4, 2023 (FBC) – Ethiopia’s Ambassador to India, Demeke Atnafu, capitalized on the 2023 World Trade Expo in Mumbai, India, to shed light on his country’s ample investment opportunities, the fiscal and non-fiscal incentives and the country’s burgeoning economy as a key factory to foreign investment.
The Ambassador highlighted Ethiopian investment opportunities at investment forum organized by World Trade Center and All India Association of Industries on October 3, 2023 in Mumbai.
While presenting ample investment opportunities existing in various sectors, he dwelt in detail about opportunities existing, especially, in agriculture, food and agro-processing, manufacturing with focus on pharmaceuticals, ICT, mining and tourism sectors.
He further underscored the fiscal and non-fiscal incentives, factors such as domestic market of 100+ million people, skilled human resource with competitive wage rate, massive energy resources and low water rate as well as being one of the fastest growing economy.
Ambassador Demeke asserted that his government is committed in undertaking business and investment-friendly reforms, including privatization and liberalization of financial and telecommunication sectors coupled with the construction of more than 25 Industrial Parks equipped with state-of-the-art technology. According to him, the aforementioned factors make Ethiopia an ideal destination for foreign investment.
The Ambassador went on to invite more Indian companies to invest in priority sectors in Ethiopia.
With regard to connectivity, he elucidated that Ethiopian Airlines is operating in more than 63 cities in Africa and flying to/from 4 destinations in India: Mumbai, Delhi, Banglore and Chennai.