Nation Secures over 2 Billion USD from FDI, Says Commissioner

May 6/2021(ENA) Ethiopia has secured 2.05 billion USD from Foreign Direct Investment (FDI) in the past nine months, according to Ethiopian Investment Commission (EIC).

Briefing journalists about the performance of EIC today, Commissioner Lelissie Nemi the revenue has surpassed that of same period last year by 6.7 percent.

The manufacturing sector has contributed 85 percent of the stated revenue obtained in nine months of the fiscal year while agriculture and services sectors contributed five and 37 percent respectively, she added

According to her, the commission has been striving to attract more FDI to the country despite the challenges of the COVID-19 pandemic and instability in some parts of the country.

“The commission has made great strides in promoting Ethiopia's investment potential through  webinar discussions. Through our embassies and consulates in different countries in particular, we have been able to identify key investment priorities and attract investors.”

She pointed out that the commission has done a good job during the past  nine month to help the private and public industrial parks use their maximum potential of production.

“Another mission of the commission is to enable industrial parks, both public and private, to reach full production capacity. As a result, it has been able to export 129 million USD worth products in the last nine  months,” the commissioner elaborated.

However, Lelissie noted that despite the increase in export products from the industrial parks and manufacturers, COVID-19 lockdowns have become major challenges that hinder access to European and U.S. markets.