info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo from Internet
The Ethiopian Investment Commission (EIC) said it has issued licenses to 94 foreign investment projects in the last five months who registered a total capital of 23.6 billion birr ($843 million at current exchange rate).Ethiopia has attracted a total FDI of $3.75 billion, last Ethiopian fiscal calendar ended July 7, 2018.
In a related development, registering a total capital of 7.3 billion birr ($261 million), some 69 investment projects have begun operation, Mekonnen Hailu, Communications head at EIC, told the state news agency ENA.
During his address at the World Economic Forum in Davos Switzerland, Prime Minister Abiy Ahmed of Ethiopia has also promised to make Ethiopia one of the top investment destinations in the world in the coming few years by improving business climate of the country.
Of 190 countries, Ethiopia ranks 159 in World Bank’s Doing Business Index 2018. To improve this, Prime Minister Abiy has a few weeks ago set up a team that will be led by him.
Mainly because of its generous investment incentives, the big market with over 100 million people and its strategic location for other markets, many foreign investors are attracted to investing in Ethiopia.
Recently in collaboration with the UN agency for African economic affairs, the Ethiopia Investment Agency has launched online investors’ guide that provides information on investment opportunities and procedures for investors.
