Ethiopia has attracted $3.82 billion in foreign direct investment (FDI) during the recently concluded Ethiopian fiscal year, as reported by the Ethiopian Investment Commission.
At a media briefing today, Ethiopian Investment Commissioner Hanna Arayaselassie highlighted the key areas of focus over the past fiscal year, including improving the business climate, promoting investment, facilitating activities, providing one-stop services, and working on regulations.
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Import substitution and job creation were also prioritized during this period.
As a result of the commission’s promotion and investment services, the country attracted $3.82 billion in FDI. This inflow represents 80 percent of the target and marks an 11.5 percent increase compared to the previous year.
Commissioner Hanna noted that the commission participated in 10 international forums and exhibitions and organized nine high-level investment forums in Ethiopia to promote the country’s untapped investment opportunities.
For the new fiscal year 2024/25, which began in July, the main priorities include implementing newly approved regulations, improving logistics and investment incentive systems, and developing a new strategy to enhance investment promotion efforts and strengthen institutional capacity through digitalization.
The commission aims to increase FDI inflow to $4.52 billion in the new Ethiopian fiscal year.
According to the UNCTAD 2023 report, Ethiopia remains one of the top five investment destinations in Africa.
Source: ENA
