Industry Minister invited Indian companies for long-term partnership

Addis Ababa, February 27, 2024 (FBC) – During an Interactive session organized by the Embassy of Ethiopia in India, Minister of Industry Mr. Melaku Alebel called for more Indian investors in Ethiopia while highlighting ample investment opportunities in his country by focusing on priority sectors such as agriculture, manufacturing, mining, ICT and tourism.

The Minister elaborated factors for investment in Ethiopia including unparalleled market access, abundant natural resources, fertile arable land, abundant water, rich minerals, diverse chemical products, air connectivity as well as unlocking potentials in agribusiness and manufacturing.

Further, Melaku, dwelt in detail a comprehensive package of support and incentives including industrial park infrastructure, tax breaks and streamlined processes. He further elaborated vast opportunities existing in pharmaceutical and health sector, agriculture and agro-processing, electrical vehicles, steel and metal, digital infrastructure, mining, among others.

With regard to India Investment in Ethiopia, the Minister mentioned that Indians are the 2nd largest foreign investor in Ethiopia creating job opportunity for more than 75,000 Ethiopians. Melaku underscored that this partnership has to be enhanced and further broadened in key investment sectors such as agro-processing, pharmaceuticals and other manufacturing sectors, mining as well as emerging sectors such as finance, telecommunication, and digital infrastructure.

Hence, the Minister invited Indian companies for long-partnership and reaffirmed the commitment of the government to provide all necessary assistance and support to ensure their investment a grand success.

The program was attended by more than 100 participants drawn from different sectors including representatives from different Chambers of Commerce and Industry.