Ethiopia attracted USD 3.82 billion in foreign direct investment (FDI) during the recently concluded fiscal year, according to the Ethiopian Investment Commission. Ethiopian Investment Commissioner Hanna Arayaselassie highlighted efforts to improve the business climate, promote investment, facilitate activities, provide one-stop services, and work on regulations as key areas of focus during the fiscal year. These efforts resulted in USD 3.82 billion in FDI, representing 80% of the target and an 11.5% increase from the previous year. Hanna mentioned the commission's participation in 10 international forums and exhibitions, as well as organizing nine high-level investment forums in Ethiopia, to promote the country’s untapped investment opportunities. For the current fiscal year 2024/25, priorities include implementing recently approved regulations, improving logistics and investment incentives, and enhancing investment promotion through digitalization, with a target to increase FDI inflow to USD 4.52 billion.

Source: Ethiopian News July 19, 2024 01:56 UTC