Foreign Direct Investment in Ethiopia Reached 4 Billion USD in 2018

EICMarch 25, 2019 (Ezega.com) -- Foreign Direct Investment has been growing in Ethiopian during the last four years, reaching four billion USD in 2018, according to the Investment Commissioner, Abebe Abebayehu.

The Ethiopian Investment commissioner attributed this growth to the reform agenda going on in Ethiopia right now, according to Ethiopian News Agency report.

“Recently, huge number of new investment interests has come from France and about 80 Emirati investors are attracted by  opportunities in Ethiopia,” the commissioner said.

According to Abebe, decisions to privatize state-owned companies, institutional reforms, and the construction of industrial parks are some of the reasons for the FDI growth.

The strengthening of diplomatic relations with several countries in the past several months is also one reason for the increased inflow of FDI.

To further accelerate FDI flow into the country, the commissioner said Ethiopia is looking at simplifying import-export process, strengthening one-stop services in industrial parks, improving customs process, and helping investors.

“We have established a task force to review our investment law. If we fill the gap on the investment law, we believe this will also be the other attraction for flow of FDI in the coming years,” the commissioner stressed.

Source: Ethiopian News Agency

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