Finance State Minister Briefs Big French Investors on Opportunities in Ethiopia

Addis Ababa February 17/2021 (ENA) At a virtual meeting held with French investors yesterday, Finance State Minister Eyob Tekalign briefed the investors about the measures being taken by the Ethiopian government to correct macro-economic imbalances and to encourage the private sector to take up key roles in Ethiopia’s economy.

The virtual meeting was held with MEDEF International, the biggest employers association in France regrouping other major French companies some of which have investments in Ethiopia and are exploring ways to expand their investments in the country.

In his opening remark, the state minister focused on briefing the investors about the measures being taken by the Government of Ethiopian to correct macro-economic imbalances and  encourage the private sector to take up key roles in the economy.

He also explained about the home-grown economic reform agenda of Ethiopia that focuses on attracting and diversifying investment flow to the country through improvements in policies and regulations.

Eyob said on the occasion that Ethiopia received USD 1.6 billion in Foreign Direct Investment (FDI) in the last six months running from July through December 2020.

The focus for investment continues to be agro-processing, tourism, manufacturing, mining, and IT sectors, he noted.

During the period between 1996-2020, French companies in Ethiopia have invested 4.7 billion Birr in areas such as manufacturing, agriculture, real estate, hotels, tour operation, and other sectors, creating over 4,000 permanent and 2,700 temporary jobs, according to the press release of Ministry of Finance.