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Ethiopia's Foreign Investment Inflow Increases 5 fold

Addis Ababa, Apr 14 (Prensa Latina) The flow of Foreign Direct Investment (FDI) in Ethiopia increased 5 times between the fiscal year 2007/8 and the current budget period, until it reached 4.2 billion dollars, official sources reported Wednesday.
According to the National Investment Commission report a decade ago the indicator totaled only 814 million dollars, but the situation changed thanks to 'a successful government plan to attract foreign investors, the suitable infrastructure expansion together with promotion activities and opportunities'.

In turn, the head of the Commission, Fistum Arega, reminded last year Ethiopia received the 'Star Reformer Award' from the World Bank for its outstanding performance in developing and implementing a viable FDI policy.

Similarly, the country won the United Nations 2017 Award for its policy in promoting projects of sustainable investments.

According to Arega, the continued development of industrial parks plays a key role in the success achieved in promoting and attracting investments.

The official also remarked the Commission has taken steps towards associating with the Board of Investment in order to improve the retention policy to make easier the conditions of access of the investors to currencies and encourage, this way, the exporting companies.

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  • Countries: Africa

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