Ethiopia Attracts $3.8 billion FDI in 2016/17

FDI-EthiopiaSeptember 10, 2017 – Ethiopia has attracted 3.8 billion U.S. dollars in foreign direct investment (FDI) in the Ethiopian Fiscal Year (EFY) 2016/17, disclosed the Ethiopian investment commissions. According to the Ethiopian government, the flow of FDI in the country showed a 20 percent increase from EFY 2015/16.

“In the 2016/17 fiscal year 381 projects have become operational and the investment projects have created 71,000 temporary and permanent jobs to Ethiopians,” stated Ethiopian government officals.

Furthermore, the Ethiopian government stated that some 28 companies with a combined capital of 1.48 billion U.S. dollars have made agreement with the Ethiopian government in eight industrial parks in the last fiscal year. The investment projects are mainly engaged in agriculture, manufacturing, health, education, mining and construction.

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Source: Xinhua

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