Ethiopia’s annual FDI inflow hits $2.2 bln

Addis Ababa, May 21, 2016 (FBC) – The annual foreign direct investment (FDI) inflow to Ethiopia has reached 2.2 billion US dollars, said the Ethiopian Investment Commission (EIC).

Two decades ago, Ethiopia’s FDI inflow was nil, said Fitsum Arega, Commissioner of the Ethiopian Investment Commission.

Ethiopia’s success in attracting FDI is nearly equal with the amount Nigeria and South Africa have received, he said.

FDI inflow to Ethiopia increased by 12 percent per annum, which according to Fitsum is due to the country’s favorable investment climate.

The government will unveil additional and new incentives to investors to attract more FDI, he concluded.