https://en.sputniknews.africa/20241012/ethiopia-sees-12-surge-in-fdi-in-first-quarter-of-current-fiscal-year--1068655298.html
Ethiopia Sees 12% Surge in FDI in First Quarter of Current Fiscal Year
Ethiopia Sees 12% Surge in FDI in First Quarter of Current Fiscal Year
Sputnik Africa
The Ethiopian Investment Commission is a government agency established to attract foreign investment. It offers a range of services to investors, including... 12.10.2024, Sputnik Africa
2024-10-12T18:57+0200
2024-10-12T18:57+0200
2024-10-14T12:48+0200
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ethiopia
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Ethiopia's Foreign Direct Investment (FDI) rose by 12% during the first quarter of the current fiscal year compared to the similar period of the last year, according to the Ethiopian Investment Commission.For instance, Chinese investment in Ethiopia reached over $8.5 billion, supporting over 3,300 projects. This investment also created over 325,000 jobs and contributed to import substitution, skills development, and trade ties, state media reported.Ethiopia implemented reforms to create a favorable business environment and attract both domestic and foreign investment, said Deputy Commissioner at the Ethiopian Investment Commission Zeleke Temesgen.The measures aimed at attracting investments also included developing vital infrastructure within industrial parks, a collaboration between the government and Chinese investors.Ethiopia secured $3.9 billion in foreign direct investment in the 2016 Ethiopian fiscal year, representing a 14% increase compared to the previous similar period.The Ethiopian fiscal year 2016 concluded on July 7, 2024, in the Gregorian calendar.
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ethiopia, east africa, economy, economic growth, foreign direct investment (fdi), investment, china, reforms, development, infrastructure, industry, cooperation, import, trade
ethiopia, east africa, economy, economic growth, foreign direct investment (fdi), investment, china, reforms, development, infrastructure, industry, cooperation, import, trade
Ethiopia Sees 12% Surge in FDI in First Quarter of Current Fiscal Year
18:57 12.10.2024 (Updated: 12:48 14.10.2024) Ekaterina Shilova
Writer / Editor
The Ethiopian Investment Commission is a government agency established to attract foreign investment. It offers a range of services to investors, including issuing permits, providing advice, and promoting investment opportunities in Ethiopia.
Ethiopia's Foreign Direct Investment (FDI) rose by 12% during the first quarter of the current fiscal year compared to the similar period of the last year, according to the Ethiopian Investment Commission.
For instance, Chinese investment in
Ethiopia reached over $8.5 billion, supporting over 3,300 projects. This investment also created over 325,000 jobs and contributed to import substitution, skills development, and trade ties, state media reported.
Ethiopia implemented reforms to create a favorable business environment and attract both domestic and
foreign investment, said Deputy Commissioner at the Ethiopian Investment Commission Zeleke Temesgen.
The measures aimed at attracting investments also included
developing vital infrastructure within industrial parks, a collaboration between the government and Chinese investors.
Ethiopia secured $3.9 billion in foreign direct investment in the 2016 Ethiopian fiscal year, representing a 14% increase compared to the previous similar period.
The Ethiopian fiscal year 2016 concluded on July 7, 2024, in the Gregorian calendar.
