Indian investors see Ethiopia as land of opportunities

ADDIS ABABA: Ethiopia has been described as a land of investment opportunities and alternatives for foreign investors wishing to engage in the agriculture sector by a visiting Indian Agriculture and Commerce delegation.

During discussions between the 34-member delegation with members of the Ethiopian Chamber of Commerce and Sectoral Associations ( ECCSA) here Tuesday, its leader, Ramakrishna Karuturi, said a good number of Indian investors had engaged in various investment sectors in Ethiopia in view of the availability of favorable conditions for investment in the country.

Karuturi, who is also the founder and Managing Director of Karuturi Global Limited, the world's largest rose grower, said Ethiopia attracted investors as it was a country endowed with untapped natural resources.

The country had various investment alternatives, he said, while noting that its economy was the fast growing in eastern Africa.

ECCSA President Eyesuswork Zafu said the Ethiopian Chamber of Commerce had signed a memorandum of understanding (MoU) with the Federation of Indian Chambers of Commerce and Industry (FICCI) to further promote trade and investment between Ethiopia and India.

The Indian delegation also held talks with different government officials on ways to boost bilateral economic co-operation for mutual benefit.