Friday, October 19, 2012

Ethiopia: Indian Investors in Ethiopia Picking Up, Ambassador Says

(Oct 20, 2012, New Delhi )--The Embassy of Ethiopia in India announced that the involvement of Indian investors in Ethiopia is increasing from time to time due to the ideal investment conditions in the country. Business men and women who have already succeeded in investing in Ethiopia are inviting their Indian mates who are looking for better investment opportunities.

Extraordinary and Plenipotentiary Ethiopian Ambassador to India, Genet Zewede said that many Indian investors are engaged in various sectors such as leather processing, agriculture, mining, agro- processing and steel processing among others. Between last July and September, for instance, four investors have issued investment licenses. And they are in the process of constructing industries in the areas of denim, cotton, sugar and garment production.

In addition, Indian investors have also been engaged in producing bio-gas, pondominia, jaterova and so forth. As a result, large coverage of area has been given to Indian investors compared to others.

In the previous year in particular, Indian investors have embarked on producing commercial crops like cotton, palm and sugar-cane. According to Ethiopian policy, to become food self-sufficient, Ethiopian farmers should be able to produce all kinds of crops.

According to her, some people complained that commercial farming has an impact on environment. For instance, the Indian company which cultivates tea plantation in Gambella could not harm the area as tea plantation doesn't degrade the environment. Read more from All Africa »

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