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Nation Attracts 2.2 Billion USD FDI in Half

aregaEthiopia has attracted 2.2 billion USD foreign direct investment (FDI) during the first half of the present budget year, according to Ethiopian Investment Commission. Addis Ababa March 27/2018

Investment Commissioner Fitsum Arega told the media today that the performance has exceeded that of same period last year by 22 percent.

Among the areas of attraction for the investors were mainly manufacturing industries and export-oriented productions that create large job opportunities, he added.

According to him, this clearly indicates that the vision to make Ethiopia the top investment destination in Africa is gradually becoming a reality.

The extensive infrastructural development by the government and the all-round effort it has been extending to investors are among the major factors that boosted investment, Fitsum elaborated.

Government built industrial parks such as Bole Lemi I and Hawassa have been fully operational while Kombolcha and Mekele became partially operational.

Besides, recruitment of investors for Adama and Dire Dawa industrial parks has started as the construction of the industrial parks has entered final stages of operation, the Commissioner stated.

Other five government industrial parks, namely Jimma, Debre Birhan, Bahir Dar, Bole Lemi II, and Adama II as well as other two private industrial parks ( CCCC/Arerti and CCECC/ Dire Dawa)  are under construction.

Meanwhile, Deputy Commissioner Abebe Abebayehu said the recently signed African Continental Free Trade Area will further boost Ethiopia’s investment by creating large market.