Investment Commission Striving to Attract More FDI This Ethiopian Fiscal Year

Addis Ababa December 14/2022 /ENA/ Ethiopia is working to secure more FDI inflow this Ethiopian fiscal year as the investment environment has become conducive for investors, according to the Ethiopian Investment Commission (EIC).

Following a high-level dialogue workshop held to strengthen investment partnerships between EIC and development partners today, Deputy Commissioner Daniel Teressa told ENA that the role of the commission is to support investors engaging in Ethiopia.

According to him, EIC has huge responsibility of supporting investors to engage in import substitution and areas that create jobs, among others.

“We have been working with development partners for years, and this workshop is targeted to strengthen the relationship,” he stated.

The workshop mainly focused on strengthening relations that are already established and to attract and work with other partners that have not been engaged in Ethiopia, it was learned.

Improving investment environment, supporting investment activities, resolving gaps in the sector are among the main activities to be undertaken, the deputy commissioner said.

Stating that promoting Ethiopia’s investment opportunities to partners is vital, he added that the peace deal between the Government of Ethiopia and the TPLF will also play crucial role in  attracting more investors to engage in Ethiopia in various sectors.

“Various efforts are undertaken to gain more FDI inflow in this Ethiopian fiscal year as compared to last year since working in partnership with various actors is pivotal to achieve the goals.”

Ethiopia has attracted 3 billion USD in Foreign Direct Investment (FDI) last Ethiopian fiscal year.