Ethiopia attracted $2.2 billion of FDI in H1, of the current fiscal year
(Ecofin Agency) - Ethiopia’s investment commission revealed that the country attracted $2.2 billion in Foreign Direct Investment (FDI) during the first half of the current fiscal year (July 2017-June 2018).
The information was given last March 27 by the Investment Commissioner, Fitsum Arega, who indicated that this performance is up 22% from that of the same period last year.
Manufacturing industries and export-directed sectors which provide significant job opportunities captured the most of these investments.
Fitsum Arega said that the increase is the result of the attractive investment environment set by the government, mainly through the development of infrastructures such as industrial parks. Such industrial parks include Bole Lemi I and Hawassa which are fully operational while those of Kombolcha and Mekele are partly operational. There is also the construction of the Adama and Dire Dawa industrial parks, funded by private investors, which entered their final stage.
Moreover, five additional government parks (Jimma, Debre Birhan, Bahir Dar, Bole Lemi II and Adama II), as well as the private park of Areti, are under construction.
Let’s note that, according to the authorities of the investment commission, the African continental free trade area whose creation agreement was signed recently will further spur investment in Ethiopia by opening the country up to a wide market.