Ethiopia-Economy

Ethiopia attracts $3.31b in foreign direct investment

APA-Addis Ababa (Ethiopia)

Ethiopia amassed about $3.31 billion in foreign direct investment (FDI) in the Ethiopian 2021/2022 fiscal year which ended on July 7, the Ethiopia Investment Commission (EIC) disclosed Tuesday.

In a press statement, EIC said 168 investors took out investment licenses during the 2021/2022 fiscal year, with 100 investors taking out manufacturing sector investment licenses, 62 investors taking out investment licenses in the services sector, and six others getting investment licenses in the agricultural sector.

 

EIC also said Ethiopia earned 202.5 million U.S. dollars from industrial parks products exports in the 2021/2022 fiscal year. The export earnings showed an increase of 24.4 million U.S. dollars when compared to the 2020/2021 fiscal year.

 

In recent years, Ethiopia has embarked on industrial parks' construction and commissioning activities, as part of a broad economic strategy to make the country a light manufacturing hub in Africa by 2025. 

 


MG/abj/APA

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