Ethiopia has many untapped and enormous investment potential for foreign investors, Indian Ambassador to Ethiopia, Robert Shetkintong said. The ambassador made the remark today at a virtual Ethio-India business forum that aimed to uncover investment, trade and tourism opportunities of the two countries. The virtual forum was organized by the Ethiopian Embassy in India in collaboration with The Diplomatist, a magazine production company, according to Ministry of Foreign Affairs. Ambassador of Ethiopia to India, Tizita Mulugeta, invited guests and more than 45 different Indian companies took part in this virtual event. In her opening remark, Ethiopian Ambassador to India Tizita Mulugeta underscored the forum as a useful event to acquaint the business community of India with the opportunities and potentials of investing and doing business in Ethiopia. Ambassador Tizita also explained in detail, the endeavors the Government of Ethiopia is making to create a favorable condition for foreign investors interested to establish their presence in Ethiopia. The Government of Ethiopia, with the vision of making the country a leading manufacturing hub in Africa, placed a high focus on industrial parks development, she stated. The government has so far constructed and operationalized around 20 state-of-the-art industrial parks which are located along key development corridors with a distinct specialty in a priority sector, she pointed out. Ambassador of India to Ethiopia, Robert Shetkintong stated even during the trying time of COVID-19 pandemic, around 35 Indian companies have got their investment license from the Ethiopian Investment Commission. This shows how Ethiopia has many untapped and enormous investment potential for foreign investors, the Ambassador added. Participants also raised queries regarding investment and trade opportunities in Ethiopia and a reflection was given from the Ambassadors and invited speakers. Source: Ethiopia News Agency
State Minister of Foreign Affairs Ambassador Redwan Hussein has urged ambassadors to give due attention to global economic and political dynamics that may determine the building of a strong and resilient economy at home.
Understanding homegrown economic reform would help to boost economic diplomacy of the country, the state minister noted.
The newly appointed ambassadors, in today’s capacity-building training session, have covered issues in conducting Economic Diplomacy in light of the Homegrown Economic reform agenda in Ethiopia.
Present at the session, Eyob Tekalgn, State Minister of Finance said the Homegrown Economic reform was designed to create jobs, ensure investment flows into the country, and lay foundations to build a strong socio-economic structure.
Despite the COVID-19 Pandemic and the conflict in northern Ethiopia, the country’s economy withstood the pressures and registered better results, he added.
Eyob pointed out that the government would continue to take several measures, such as increasing productivity to spur economic growth.
Source: Ethiopia News Agency