Foreign direct investment in Ethiopia dropped by a fifth in the first half of the country’s fiscal year after violent anti-government protests in which foreign-owned businesses were targeted. He said the government may miss its annual target of $3.5 billion, with $3.2 billion more likely to be attainable. The security forces killed at least 600 demonstrators, according to the Association for Human Rights in Ethiopia. While no foreign investors canceled planned projects, they have taken a “wait-and-see attitude” to the country, Fitsum said. Total foreign direct investment in Ethiopia in the 2015-16 fiscal year was $2.2 billion, according to an EIC statement published on the website of FANA, the ruling-party affiliated broadcaster.

Source: Ethiopian News February 15, 2017 02:56 UTC