Ethiopia recorded a 14 per cent increase in foreign direct investment during the 2023/2024 fiscal yearChinese investors have significantly contributed to Ethiopia's economic growth, injecting over US$8.5 billion into the country and creating thousands of jobs, according to the Ethiopian Investment Commission (EIC). The EIC reports that 3,309 Chinese-led projects have played a key role in supporting Ethiopia's socio-economic development goals, enhancing both its infrastructure and industry sectors, reports Xinhua News Agency , a partner of TV BRICS. These projects have created more than 325,400 permanent and temporary jobs for Ethiopians in recent years, greatly benefiting the local workforce. Ethiopia also recorded a 14 per cent increase in foreign direct investment during the 2023/2024 fiscal year, securing US$3.9 billion. The EIC credits this growth to increased Chinese involvement, as the nation continues to attract foreign capital for its economic expansion.

Source: Ethiopian News October 20, 2024 07:47 UTC