Ethiopia witnesses an increase foreign direct investment.

Posted on :Monday , 10th October 2022

Ethiopia attracted approximately 3.31 billion US dollars in Foreign Direct Investment (FDI) in the Ethiopian fiscal year 2021/2022, according to the Ethiopia Investment Commission (EIC).

 

In a press release, EIC stated that 168 investors obtained investment licences during the fiscal year 2021/2022, with 100 investors obtaining investment licences in the manufacturing sector, 62 investors obtaining investment licences in the services sector, and six others obtaining investment licences in the agricultural sector.

 

EIC also stated that Ethiopia earned 202.5 million US dollars from industrial park product exports in the fiscal year 2021/2022.When compared to the fiscal year 2020/2021, export earnings increased by 24.4 million US dollars.

 

Ethiopia has recently started building and commissioning industrial parks as part of a larger economic strategy to make the country a light manufacturing hub in Africa by 2025.

 

Ethiopia, Foreign Direct Investment (FDI), licences, services sector, industrial park, export, earning, economic strategy, Africa, manufacturing hub

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