In Ethiopia, Deputy Foreign and Trade Ministers meet with Indian investors.
On Tuesday, the India Business Forum (IBF) hosted an educational discussion with State Minister of Foreign Affairs Tsion Teklu and State Minister of Trade and Industry Ambassador Misganu Arega.
The meeting provided an opportunity for Indian companies to express their concerns to officials in the industry in which they had invested.
State Minister Tsion, who spoke at the event, listened to the concerns raised by Indian investors and assured them that their concerns would be addressed quickly.
She also praised Indian investors and businesses for their significant contributions to the East African country’s economic development.
India is one of Ethiopia’s most important investors, with 617 Indian companies registered with the Ethiopian Investment Commission employing approximately 75000 Ethiopians.
Ambassador Misganu Arega stated that there is more that can be done to increase Indian investment and highlighted the opportunities in the East African country.
The state minister urged IBF members to help India attract more investment.
The mining sector is among the highlighted investment opportunities, which the government has designated as a priority.
Officials assured Indian companies that they would be supported in their investment venture in Ethiopia.
Mayur Kothari, the convener of the India Business Forum, spoke about the Forum’s active initiatives in connecting Indian investors with Ethiopian investors.
Despite the global economic impact of the Covid-19 pandemic, 35 new Indian investment projects were announced in the last year.
Ethiopian-Indian relations will remain strong, according to Robert Shetkintong, India’s ambassador to Ethiopia, who added that “the business and economic aspect of our bilateral relations was very important.”
The ambassador praised the India Business Forum for assisting Indian investors in Ethiopia.
The India Business Forum, which was founded in 2005, is celebrating 15 years of assisting Indian investors in Ethiopia.
The Forum meets on a regular basis with dignitaries and officials from Ethiopia’s Federal Democratic Republic, Presidents of Regional States, the Ethiopian Investment Commission, and banks.