Ethiopian Investment Commission said Ethiopia has attracted $18.6 foreign direct investment (FDI) in four years (between 2021 – 2025).
The statement is made by the Chief Commissioner of the Ethiopian Investment Commission, Zeleke Temesgen (PhD), stated that the Homegrown Economic Reform being implemented in Ethiopia is increasing the flow of Foreign Direct Investment (FDI). he stated that satisfactory results have been recorded through the integrated promotion work carried out by the Commission, said that it was possible to attract $18.6 billion in foreign direct investment between the years 2021 and 2025 (2013 E.C. to 2017 E.C.).
The Commissioner made the remark today a consultative forum under the theme ‘Ethiopia’ The New Investment Destination, organized by the Ethiopian News Agency (ENA), in collaboration with the Ethiopian Investment Commission. It indicated that free trade zones have created a favorable ecosystem opportunity for foreign investors. The commissioner also noted that focus will be given in the future to further improve the country’s investment status in the continent, according to to the state news agency report, ENA.
The comprehensive macro-economic reform initiated by the government has created an opportunity for foreign investors to see the wide range of options in Ethiopia and engage extensively, according to t the Commissioner. The commissioner mentioned that the reform has created a major revival in five key economic sectors identified for attracting foreign direct investment.
The commissioner of Ethiopian Investment Commission further explained that the entry of new investors is contributing significantly to job creation and technology transfer. The commissioner stated that it has been possible to increase productivity by developing the country’s natural resources through technology. He also mentioned that favorable conditions have been created to increase products supplied to the foreign market.
The commissioner also announced that the housing development sector, which was previously closed, has been opened to foreign investors through legal amendments. According to the direction set by the government in the tourism, ICT, and digital economy sectors, work is being done to attract investment by building a modern and digital economy, he said.
The Minister of Trade and Regional Integration, Kasahun Gofe (PhD), the Deputy Chairperson of the Trade and Tourism Affairs Standing Committee of the House of Peoples’ Representatives, Yohannes Mesfin, as well as federal and regional investment development stakeholders were present at the forum.
