FDI in Flow Decreased

FDI in Flow Decreased FDI in Flow Decreased

Ethiopian Investment Commission (EIC) disclosed Ethiopia managed to attract a total of 1.2 billion USD by foreign direct investment (FDI) in the first 6 months of the current fiscal year.According to the Commissioner for EIC, Fitsum Arega, the FDI flow shows slight reduction when compared to the same period last year.

For the current fiscal year the target set was 3.5 billion USD, Fitsum explained.

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Speaking about the unrest in Oromia and Amhara states, the Commissioner said the government extended more than 100 million Birr financial support for horticulture companies affected by the unrest. The government also had given a year grace period and duty-free privilege for companies that saw their properties damaged, he added.

Fitsum also noted that there is no foreign investor that withdrew or halted its operation as a consequence of the recent unrest.

 

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