Ethiopia Earns 2.5 Billion USD in FDI


Ethiopia earns 2.5 billion USD in FDI
Ethiopia earns 2.5 billion USD in FDI

Ethiopia has earned 2.5 billion USD in foreign direct investment (FDI) during the first nine months of this budget year, Ethiopian Investment Commission (EIC) said.

Mekonnen Hailu, EIC Public Relations Director told The Ethiopian Herald the majority of the FDI came from commercial agriculture, manufacturing, investment, and service sectors.

He added that about 128 investment projects that registered 13.05 billion Birr capital have finalized the final phase of preparation to go operational.158 projects that registered 17.02 billion Birr capital are also in the implementation phase.

The EIC has given orientation for 1,971 investors about the country’s investment preference and opportunities.

As to him, the Commission has also offered 3,473 new and expansionlicenses and registration service for new and existing investors. Ethiopia was successful in attracting foreign investors and international companies this year more than ever, he said.

As to him, the government has been building and providing the basic infrastructural and logistics supply which are the core aspects to attract investment.

Instability in some parts of the country, power outage and shortage of hard currency remain to be major challenges in attracting FDI to the country, Mekonnen noted.

The Ethiopian Herald


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