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Ethiopia remains the largest recipient of FDI in East Africa despite an inflow contract by 18pct

Ethiopian foreign direct investment (FDI) inflows contracted by 18 prizes to $ 3.3 billion but the country remains the largest recipient of FDI in the East African region and remains the top in the region and the fifth largest destination for FDI on the continent. This is consistent with the 2019 World Investment Report which was launched in Addis Ababa on Wednesday.

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The report came amid Ethiopian authorities desperately needing hard currencies according to Tesfachew Tafere, Principal Adviser with the Ethiopian Investment Commission, the country’s attractive foreign direct investment attractiveness. Tesfachew believes even though the contracted FDI of the country’s progress continues to impress.

Ethiopian Investment Commissioner Abebe Abebayew linked the industrial zone to serve as a catalyst in attracting FDI to the country.

The World Investment Report has been published annually by the nation’s unity conference on trade and development since 1991 and annually discusses the latest trends in foreign direct investment throughout the World. This year examines recent foreign direct investment flows and adjustments in national and international investment policies that address the issue of special economic zones.

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