The Indian investors have shown faith in Ethiopia and numbers of investors are growing rapidly to be part of the glooming economy of Ethiopia. Indian investors are the third largest foreign investors in Ethiopia and growing manifold.
Almost all the sectors have seen multiple growth over a period of time. Currently, there are total of 551 licensed investment projects which are operational. Out of these, 334 are in manufacturing, 77 in agriculture, 67 in real estate and machinery equipment rentals and consultancy services. There are 45 in construction contracting including water well driving, 8 in education, 7 in hotels, 5 in Health and 8 in mining and other sectors.
It’s worth mentioning and truly encouraging to note that out of 551 total projects, 342 investment projects are operational with 3.2 billion USD capital, employing 30,255 permanently and 41,314 temporarily. The remaining 85 projects are under implementation, when kick started operation will bring the total capital to more than 4.5 billion USD.
H.E. Demeke Atnafu Ambulo, Consul General of Ethiopia in Mumbai says “Our Consulate is exerting relentless effort focused on deepening broadening and enhancing further Indian Investments in Ethiopia. As our government embarked upon a number of political and economic reforms aimed at improving the business and investment climate. We are honoured and humbled to invite Indian companies to take advantage of wide-ranging opportunities and competitive incentives existing in Ethiopia”.
Rajendra Hastimal Chopra, a businessman from Mumbai who has a business interest in Ethiopia said “The Ethiopian government has come out with numerous projects where Indian business and industries are keen on investing. The country’s government, people, environment, relationships, and framework that propel both individuals and corporations to invest in Ethiopia. Indeed, Ethiopian Consulate in Mumbai is playing an important role in guiding and attracting business communities through various initiatives”.