Addis Ababa, March 29, 2024(Addis Walta) During a discussion with Industrial Parks Development Corporation (IPDC) CEO Aklilu Tadesse and his management members, Anil Kumar Rai, the Ambassador of India to Ethiopia and the African Union, identified the pharmaceutical and agro-processing sectors as viable investment destinations in Ethiopia.
The two parties discussed ways to strengthen the investment relationship, human resource capacity building, and related areas of engagement, as well as attracting new investors to industrial parks in Ethiopia.
In response, IPDC CEO Aklilu Tadesse expressed the corporation’s commitment to maintaining its strong relationship with the Indian Embassy and attracting more Indian investors, particularly in the pharmaceutical and agro-processing sectors.
The ambassador confirmed that Ethiopia’s large number of young people and the attention given to the pharmaceutical sector make it a favorable investment destination. He further stated that the embassy would identify areas where they can work together to strengthen future cooperation.
It is worth noting that there are currently more than 12 Indian companies operating in various investment sectors in the industrial parks and Dire Dawa Free Trade Zone managed by IPDC. India ranks second after China in terms of deploying large investors in industrial parks.