Africa calls to invest in pharma, edu & textiles

COIMBATORE: The African countries of Tanzania, Ethiopia and Madagascar, have invited Indian entrepreneurs to invest in the region, particularly in pharmaceuticals, education and textiles sectors.

Addressing a seminar on 'India-Africa Project partnership-showcasing opportunities,' organised by CII, Eva L Nzaro, High Commissioner, Tanzania High Commission, said her country needed hospitals and pharmaceutical companies and invited entrepreneurs to set up units there.

She also said that her government would also extend incentives and special package for setting up textile industry, Eva said.

Offering a tax holiday for 10 years for setting up textile mills, she said Tanzania has good water and gas resources and tremendous potential to generate power from gas and water resources.

Bruno Ranarivelo, Ambassador, Embassy of Madagascar, also invited the industrialists to set up units in Madagascar, which was very strong in agricultural products like rice, coffee, vanilla and shrimps, lobsters, petroleum and gas deposits and precious stones.