Browsing: FDI in Ethiopia

Ethiopia attracts $500m FDI in three months

Ethiopia attracts $500 million Foreign Direct Investments (FDI) during the first quarter of the country’s current fiscal year according to the investment commission of Ethiopia.

The FDI declined by 20 per cent compared to the amount it attracted in 2019 in the same period due to the impact of the covid-19 according to Lilise Neme, the Commissioner of Ethiopian Investment Commission.

According to Lilise, 42 per cent are registered to invest in manufacturing, 47 per cent in service and 11 per cent are in agriculture sectors.

The commissioner added that the $500 million FDI registered in the three months in the face of a pandemic is promising and considered a victory. She also noted that most of the FDI is from China.

Despite Turkey, China and India being among the top FDI sources in Ethiopia, only one Chinese company appeared in the list of top 200 taxpayers awarded by Ethiopia …