Russian Embassy to attract investors to Ethiopia

Russian Ambassador to Ethiopia Evgeny Terekhin said the diplomatic institution is actively working to enable Russian investors to invest in Industrial Parks and free trade zones managed by the Industrial Parks Development Corporation (IPDC).

Terekhin said this during a meeting with IPDC CEO Aklilu Tadesse on ways to strengthen investment co-operation between the two countries.

He noted that the diplomatic staff urged Moscow companies to utilise the opportunities in Addis Ababa and invest in industrial parks, and said a delegation of his country's business community would soon visit the African nation as part of pre-investment interaction. This is reported by Prensa Latina, a partner of TV BRICS.

For his part, Tadesse emphasised the need to expand investment between Ethiopia and Russia and described the long-standing bilateral relations as a fertile ground for this.

The Russian diplomat also visited Hawassa Industrial Park and praised the ongoing infrastructure development, which he described as the best place for foreign investment.

Photo: Prensa Latina / IPDC