Ethiopia striving to attract more foreign direct investment: MFA State Minister

Addis Ababa, March 18, 2022 (FBC) – State Minister of Ministry of Foreign Affairs, Redwan Hussien conferred with Indian investors and members of the Indian Investment Forum who are currently operating in Ethiopia.

Indian investors who participated in the discussion raised questions related to foreign exchange supply, taxation and security matters.

Ambassador Redwan recalled that over the last three years Ethiopia has opened up opportunities that were locked before introduction of the reform for foreign investors.

He said Indian investors who continued their business even during trying times in Ethiopia are a good example for others interested to come to the country and join the sector.

He said the government is working hard to create a conducive climate for all in order to attract more foreign direct investment.

Indian investors Ethiopia is in a better position to become the chosen investment destination not only in the Horn of Africa but also on the African continent if it can quickly address some bottlenecks in the sector.

The Indian investors expressed delight for they have learned a lot from the discussion that the Ethiopian government is committed to bridging the gaps they raised so far.

Currently, more than 600 Indian investors are engaged in various sectors in Ethiopia.