Ethiopia Remains Biggest FDI Recipient In East African Despite Inflow Contracts By 18pct

Ethiopia’s Foreign Direct Investment (FDI) inflow contracted by 18 present to $3.3 billion however the country remained to be the biggest FDI recipient in East African region and retains top of the region and the fifth largest FDI destination in the continent. This was according to the World Investment Report 2019 edition launched here in Addis Ababa on Wednesday.

The report comes amid Ethiopia’s government crave for hard currency according to Tesfachew Tafere, Principal Advisor with Ethiopian Investment Commission, the country’s foreign direct investment attraction is encouraging. Tesfachew argued despite the contracted FDI the progress of the country continues to be impressive.

Ethiopian Investment Commissioner, Abebe Abebayew attributed the industrial zones for serving as catalysts in attracting FDI to the country.

The World Investment Report has been published annually by the united nation conference on trade and development since 1991 and each year covers the latest trends in foreign direct investment around the World. This year’s examined the recent flows in foreign direct investment and adjustments in national and international investment policies addressing the issue of special Economic zones.

By Abel Takele