India to invest $4.2 bn in Ethiopia

ETHIOPIA: India will invest $4.2 bn in 439 projects in Ethiopia, the Indian Ambassador to the country said.

"Indian entrepreneurs have received licences from the Ethiopian authorities to invest an aggregate capital of USD 4.2 billion in 439 investment projects in the country," Gurjit Singh said on his visit to Dire Dawa recently.

"Trade and investment ties between Ethiopia and India had been flourishing since the two countries were on the same track of development. The co-operation between the countries had been enhanced in the fields of agriculture, human resource development sectors, infrastructure and communication technology," he said.

There is favourable trade and investment climate in Ethiopia, Singh said, adding that India would continue promoting various investment opportunities in the country.