Resurgent Ethiopia invites investments from India

(January 31, 2012, The Hindu)--Ethiopian Ambassador to India, Gennet Zewide, on Tuesday sought investments in the areas of textiles, leather, healthcare, milk and dairy products, tourism and chemicals to catch up with fastest growing countries such as India and China.

The Hindu

Addressing government officials, business leaders and chamber representatives to mark the opening of the Honorary Consulate in Chennai, she said the new office would enable them to attract more Indian businesses and investments in priority sectors such as textile, leather, pharma, chemicals, manufacturing and automobile as these areas were found to be in abundance in Chennai.

“Ethiopia is a power surplus country. However, it has shortage in milk and dairy products. We welcome you. Similarly, investments can be made in the field of healthcare as we are according priority to it. We are building awareness about healthcare. We welcome investment in generic pharma to cater to the needs of 80 million people. Our Tourism Minister will be visiting India from February 7 to 12 to do intensive promotion,” she said.

Quoting World Bank, IMF and Economists forecasts, she said “Ethiopia will be the third fastest growing country following China and India this year. Ours is a developing economy. We are a poor country and working hard to develop Ethiopia to where India is at present. We are planning to transform our economy from agriculture to industry in order to join those nations that enjoy a middle income economy in the next 10 to 15 years.” Read more from The Hidu »

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