Ethiopian PM invites Indian firms to invest in Ethiopia

Ethiopian Prime Minister Meles Zenawi said Thursday Indian firms could benefit if they invest in the Horn of Africa country.

During talks with a delegation of Indian investors, Meles said Ethiopia is desirous to work with India in various sectors.

There are wide investment opportunities, attractive incentive and a huge market in Ethiopia, he said, adding that the government will provide a host of incentives particularly if Indian investors seek to engage in export-oriented venture.

For his part, Sanjay Kirloskar, head of the delegation, said the Indian investors, who are on a working visit here, will meet their Ethiopian counterparts and explore ways of launching joint venture.

Kirloskar said trade and investment relations between India and Ethiopia are currently in a very good shape.

During the talks, some Indian investors expressed desire to invest in various sectors in Ethiopia.

They also expressed desire to launch a study shortly and to subsequently engage in the sector they found feasible.

Although Ethiopia suffers from poor infrastructure, the government has made serious efforts to improve roads and airports, paving a way for the flow of foreign investment.

Source: Xinhua