Ethiopia has secured over $1 billion in Foreign Direct Investment in the first four months of its current budget year that started on July 8, 2021.
Ethiopian Investment Commissioner Lelise Neme Tuesday told reporters that “despite the conflict some 54 foreign investors have invested $1.07 billion in the manufacturing and service sectors during the past four months of the fiscal year.”
Of those, 33 of the investors will engage in manufacturing and the 21 in the services sector, it was learnt.
“This performance has shown over 23 percent increase when compared to the same period of the last fiscal year. The growth in this regard shows the realization foreign investors have developed about the advantage of investing in Ethiopia,” Lelise observed.
The commission is encouraged by the significant increase in investment and the way the investors see the opportunity and the huge investment potential in Ethiopia, she noted.
The achievement gained amidst conflict in the northern part of the country is satisfactory, showing that most investors have trust in the business environment, she added.
MG/as/APA