Pharmaceutical, agro-processing sectors viable investment destinations in Ethiopia: Indian Ambassador

Addis Ababa, March 28, 2024 (FBC) – Anil Kumar Rai, Ambassador of India to Ethiopia and the African Union , stated that the pharmaceutical and agro-processing sectors are viable investment destinations in Ethiopia.

The Ambassador stated this during a discussion with Industrial Parks Development Corporation (IPDC) CEO Aklilu Tadesse and his management members.

They exchanged views on how to strengthen the investment relationship, human resource capacity building and related areas of engagement as well as attracting and new investors to industrial parks in Ethiopia.

IPDC CEO Aklilu Tadesse, said that the corporation will continue to strengthen its strong relationship with Indian Embassy and will work to attract more Indian investors, especially in the pharmaceutical and agro-processing sectors.

Anil Kumar Rai, the Ambassador of India and African Union representative in Ethiopia, confirmed that Ethiopia has a large number of young people and the attention given to the pharmaceutical sector is conducive for investment and the embassy will identify issues that can be worked together to strengthen the current cooperation in the future.

There are more than 12 Indian companies engaged in various investment sectors in the industrial parks and Dire Dawa Free Trade Zone managed by IPDC. After China, India ranked second in terms of deploying large investors in industrial parks.