Addis Ababa December 5/2020 (ENA) Ethiopian Investment Commission said it has been providing accurate information for foreign investors about the current situation in the country in a bid to sustain their confidence and encourage Foreign Direct Investment.
In an exclusive interview with ENA, Investment Commissioner Lelise Neme said the commission is providing foreign investors operating in Ethiopia with information regarding the ongoing situation of the country based on their request through various platforms organized by the commission.
Information is being given not only to investors operating in Tigray Regional State but also in the entire country, she added.
According to her, the briefings have boosted the confidence of foreign investors in Ethiopia.
“We have been providing the necessary information for the investors about the law enforcement operation in Tigray Region; and this has increased their confidence to work in Ethiopia. In this way we are trying to build their confidence by briefing them about the reality on the ground.”
The commissioner also talked about the impact of COVID-19 on Ethiopia’s investment activities.
She said the pandemic has been affecting the flow of investment throughout the world, including Ethiopia.
Investment in the African continent has declined from 30-40 percent during the concluding 2020 due to the pandemic, Lelise pointed out, quoting the United Nations Conference on Trade and Development (UNCTAD).
To help the investment activities weakened by the pandemic, the commission has been encouraging investors to expand their projects and increase productivity, Lelise stated.
“We are trying our level best to encourage the existing investors to expand their activities, increase productivity, and also enter into other investment sectors. The international economic downturn encountered due to COVID-19 pandemic has also been witnessed in Ethiopia. Hence, we are working to enhance investment activities affected by the pandemic.”
According to the commissioner, Ethiopia has secured half a billion USD from Foreign Direct Investment during the first quarter of the current Ethiopian Fiscal Year.