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:


Kenya investigating how Uganda opposition figure was ‘abducted’

KENYA’S government has said it was investigating how a prominent Ugandan opposition leader was spirited out of Nairobi this week,...

Read More
Tributes flow in for British ex-deputy prime minister Prescott

FORMER British deputy prime minister John Prescott has been remembered in the House of Commons as a “titan” of British...

Read More
Britain imposes asset freeze, travel ban on Angola’s Isabel dos Santos

BRITAIN has imposed a travel ban and an asset freeze on Angolan billionaire Isabel dos Santos under its global anti-corruption...

Read More