Ethiopia crowns in East Africa attracting FDI

Ethiopia is becoming the leading country in East Africa in attracting Foreign Direct Investment (FDI), the Ethiopian Investment Agency said. 

According to the public relations head with the Agency, Getahun Negash the nation has managed to attract close to 3,000 investment projects with an aggregate capital of 11.5 billion Birr during the past years of the growth and transformation plan (GTP) period.

These projects employed over 31,000 individuals.

According to him, 561 of the projects are licensed during the first three quarters of this budget year, of which 166 have already started production.

More than half of the projects (272) are in the manufacturing sector, a priority area for the country.

Capital flow, technology transfer and increasing competitiveness are the major advantages the country hopes to obtain from FDI flow.

Chinese, Indian, Sudanese, American, UK and Israeli companies are investing in various areas in the country.




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