Friday, July 16, 2010

Indian investment to Ethiopia reaches $5 billion:

APA-Addis Ababa (Ethiopia) Indian investment to Ethiopia has reached a record of $ 5 billion in 2010, up from $ 300 million five years ago, APA learns here on Friday.

India and China are currently investing billions of dollars in various investment opportunities in Ethiopia since the past four to five years, according to the Ethiopian Ministry of Trade and Industry.

A 24-member Indian investors’ team is in Ethiopia on a business trip, which aims at assessing business opportunities in the country.

Agriculture, manufacturing, real estate, construction and education are among the investment areas in which the Indian investors are looking at.

In 2008, the Indian government provided the largest loan amounting to $ 660 million to Ethiopia for undertaking development projects, mainly on sugar projects.

India is currently showing interest in investing in Africa after China.

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