Ethiopia reports more foreign direct investment

Wed, Sep 21, 2022
By editor
1 MIN READ

Foreign

THE Ethiopia Investment Commission (EIC) said the country has attracted 3.31 billion U.S. dollars in foreign direct investment (FDI) in the 2021/2022 fiscal year which ended on July 7.

EIC said in a statement that 168 investors took out investment licenses during the 2021/2022 fiscal year.

It said 100 investors took out manufacturing sector investment licenses, 62 investors took investment licenses in the services sector, and six others got investment licenses in the agricultural sector.

EIC also said Ethiopia earned 202.5 million U.S. dollars from industrial parks products exports in the 2021/2022 fiscal year.

The export earnings showed an increase of 24.4 million U.S. dollars when compared to the 2020/2021 fiscal year.

In recent years, Ethiopia had embarked on industrial parks’ construction and commissioning activities, as part of a broad economic strategy to make the country a light manufacturing hub in Africa by 2025. (Xinhua/NAN)

A.I

Tags:


Why Archbishop of Canterbury, Justin Welby resigned

JUSTIN Welby, the Archbishop of Canterbury the most senior leader in the Church of England, has resigned over his handling of...

Read More
King Charles hosts Bahrain’s king at Windsor amid criticism of visit

KING Charles III has hosted Bahrain’s sovereign at Windsor Castle amid calls from human rights campaigners for the release of...

Read More
Mauritius elects new parliament

PARLIAMENTARY elections were being held in the Indian Ocean island state of Mauritius on Sunday, with the Alliance Lepep governing...

Read More