Ethiopia Attracts Over $4 Bln FDI Last Fiscal Year

FDIEthiopia attracted more than 4.1 billion US dollars foreign direct investment (FDI) in the concluded fiscal year (201718), according to the Ministry of Foreign Affairs (MFA). August 22, 2018

As a result of the successful economic diplomacy carried out by embassies and consular offices, the country attracted 156 big companies with a combined capital of over 4.1 billion US dollars, Meles Alem, Spokesperson of MFA, told journalists today. Moreover, works were underway to attract more investment this fiscal year (2018/19) since the country is getting more peaceful, the Spokesperson noted.

Other countries have also shown interest to cooperate with the country and the Diaspora community has decided to boost their engagement, he said.

An Ethiopian delegation led by senior government officials will take part in the 2018 Forum on China-Africa Cooperation (FOCAC) that will take place next month, he added.

The summit is part of the FOCAC cooperation which involves 52 African countries. The cooperation is in areas such as trade, technology, media, diplomacy, agriculture, culture, and people-to-people exchanges