Ethiopia’s Ambassador to India urges investors to engage in tourism sector

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Tizita Mulugeta, Ambassador of Ethiopia to India urged investors in the global tourism sector to grab and capitalize on attractive opportunities in Ethiopia.

She told them this while addressing investors gathered virtually at the Inventivepreneur Chamber of Commerce and Industries (ICCI) Annual Global Tourism Summit held on Sunday.

The virtual summit aimed to discuss pertinent global tourism issues and drew high-level government officials, ambassadors, investors in the tourism and hospitality sector, including public and private businesses.

Ambassador Tizita spoke on the global challenges that the tourism industry has faced following the unprecedented global social and health problems, including the measures countries are taking to tackle them.

Regarding the tourism industry in Ethiopia, the Ambassador explained its invaluable role in earning Foreign Exchange and creating employment opportunities for small and medium scale enterprises.

Concerning international tourist arrivals in Ethiopia, the Ambassador noted that the sector proved to be fast-growing, especially in the last two decades.

The Ambassador also talked about the multifaceted socio-economic and investment reforms that the government of Ethiopia has been undertaking to provide attractive opportunities and incentives to investors.

She also described the five-year zero-profit tax and custom duty exemptions on imported construction and capital goods for new investments in the hospitality sector as special investment incentive packages intended to attract investors.

Inventivepreneur is a group of experienced Venture Capitalists, Global Business Leaders, Early Stage Businesses, Innovative Business Ideas, Entrepreneurs, Politicians, and Policymakers.

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