<b>India to invest $4.2 bn in 439 projects in Ethiopia</b>

I / Dire Dawa (ethiopia) June 22, 2009, 14:51 IST

India will invest $4.2 billion in 439 projects in Ethiopia, the Indian Ambassador to the country announced today.     

"Indian entrepreneurs have received licences from the Ethiopian authorities to invest an aggregate capital of $4.2 billion in 439 investment projects in the country," Gurjit Singh informed 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.