India’s Raymond Ltd Company has concluded an agreement with the Ethiopian Investment Commission to invest in Ethiopia a US$100 million in Hawassa town. Genet Zewde, Ethiopia’s Ambassador to India, said it took us seven years to bring Raymond to invest in Ethiopia, adding, as the largest integrated manufacturer of worsted fabric globally, its engagement in Ethiopia will attract others, she said.
After it enters the project implementation phase, Raymond will expand its investment in Ethiopia. Ethiopian Prime Minister Hailemariam Desalegn informed Indian investors about the government support in the sector at the recent Ethio-India investment Forum. The Forum, which was attended by 30 Ethiopian investors and 150 Indian companies, created better partnership among Ethiopian and Indian companies, Ambassador Genet stated.
