Foreign direct investment flow to Ethiopia growing

Foreigners account for more than half of the over 312 billion birr capital registered by investors in the sector.

Ethiopia plans to register a 20.1 percent average growth rate in the industry sector at the end of the Growth and Transformation plan.

In the years before 2010/2011 the average growth was around 10 percent. In the first year of the GTP, that’s last year, the sector registered growth of 15 percent. This year it is estimated to be 17.9 percent.

The plan intends to attract more investors in selected industries such as textile, sugar, and leather processing.

Currently, there are over 13,000 investors with a combined capital of over 312 billion birr, creating jobs for 1.3 million compatriots. Out of these, 2,000 projects are owned by foreigners. Their investment amounts more than 184 billion birr capital. Chinese, Turkish and Indian investors take the lion’s share.

ENA : Rigbe Yohanes