Ethiopia seeks investment from Indian investors in priority sectors

Ethiopia recently sought investment from Indian investors in priority sectors and hoped bilateral trade and investment will grow in future. The country’s priority sectors include textile and apparel, leather and leather products, agro-processing, information and communciation technology and energy, Ethiopian ambassador to India Tizita Mulugeta said.

Bilateral trade between the two countries stood at $1.27 billion in the recent past. The Ethiopian government has taken several initiatives to encourage investors from India, Mulugeta said at an interactive session with the Merchant Chamber of Commerce and Industry (MCCI) in Kolkata.

MCCI president Aakash Shah said Ethiopia is poised to emerge as a middle income country and a major manufacturing hub in Africa by 2025, a news agency reported.

There are over 558 Indian companies operating in Ethiopia with licensed investment of approximately $4 billion, mostly in agriculture and manufacturing, he added.

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