Commission Encouraged by over 1 Billion USD Foreign Direct Investment in One-Third Fiscal Year

Addis Ababa December 22/2021/ENA/ The over 1 billion USD Foreign Direct Investment (FDI) attracted in the first four months of the Ethiopian fiscal year amidst the challenges the country is facing shows that most investors have trust in the business environment, Ethiopian Investment Commissioner Lelise Neme said.

The commissioner told ENA that “despite the conflict some 54 foreign investors have invested  1.07 billion USD in the manufacturing and service sectors during the past four months of the fiscal year.”

Of those, 33 of the investors will engage in manufacturing and the 21 in the services sector, it was learned.

“This performance has shown over 23 percent increase when compared to the same period of  the last fiscal year. The growth in this regard shows the realization foreign investors have developed about the advantageous of investing in Ethiopia,” Lelise observed.

The commission is encouraged by the significant increase in investment and the way the investors see the opportunity and the huge investment potential in Ethiopia, she noted.   

The commissioner has called on the Ethiopian Diaspora to see the enormous investment opportunities in the country and engage in areas of their interest.

According to her, the Ease of Doing Business as part of the economic reform of the country and revision of the investment law have created favorable investment conditions in Ethiopia; and the commission is identifying and addressing obstacles investors in the country are facing.

Ethiopia has a huge investment potential in agriculture, industry, services, and energy and mines.