Ethiopia Attracts over 1 Bil USD from FDI in Four Months

Ethiopia has attracted 54 Foreign Direct investments (FDI) with more than 1 billion USD in the past four months, the Ethiopian Investment Commission disclosed.

Investment Commissioner, Lelise Neme said the plan was to attract 1.38 billion USD from FDI from July to October and achieved over 1.07 billion USD, performing 78 percent against the plan.

The commission’s performance in this case has showed 28 percent increment compared to the same period last year, she recalled.

The 33 investors will engage in manufacturing and the rest 21 in services, she stated.

Most of the investors came from China, the commissioner noted.

Stating that discussions held with investors and embassies of different countries last year have provided opportunity to identify issues that have to be addressed by different stakeholders, Lelisie said, the commission has achieved 74 of its plan in  encouraging investments, create jobs and markets.

More than 34, 580 jobs have been created and about 24,000 of them are women, she added.

The commission has created an institutional structure to quickly solve problems that investors face, she pointed out, expressing the commission’s commitment to support the investors, the commissioner further reassured.

Source: Ethiopia News Agency