Ethiopia’s private sector is experiencing a significant surge in investment, with over $2 billion committed to new projects following recent policy and legal reforms. The introduction of a new Investment Proclamation has opened numerous sectors to foreign investors, resulting in a wave of business activity. According to the Ethiopian Investment Commission (EIC), more than 150 investment projects have emerged since the proclamation was enacted, leading to an influx of over $1.2 billion in various sectors. “The new special economic zone initiative is a major step forward for Ethiopia and its investment environment,” Habtamu added. Eyob Tekalgn, State Minister of Finance, emphasized the importance of these reforms during a panel discussion at the event.

Source: Ethiopian News October 07, 2024 10:10 UTC