Ministry of Foreign Affairs disclosed number of investors interested in starting business as well as investing in Ethiopia has shot by threefold in the past two years.

Two years ago 365 investors came to Ethiopia for different purposes. They visited the East African nation either to look for opportunities, conduct feasibility study or open their own investment.

This figure has managed to hit more than 1000, which is a threefold, in just a year time.

According to the Ministry’s Business Diplomacy Director General, Kebede Abera, most of the investors came to Ethiopia under business delegations that are led by high level government officials.

Among others, the delegations were from China, Japan, Finland, Italy, Israel, Turkey and UAE.

Kebede explained, different valuable activities of economic diplomacy are being undertaken by the Ethiopian Government in order to attract more foreign direct investment (FDI).

The achievements, he noted, are attributable to concerted efforts carried out to facilitate things to smoothen the activities of investors, including land grant and infrastructure development.

The government is currently working on increasing foreign investment in order to ensure the nation’s economic development, he furthered.

Activities carried out in the past years have helped to increase the number of foreign investors in Ethiopia, Minister of Industry, Ahmed Abtew said.

Ahmed also said in order to address challenges investors have raised, the Ministry is working woth stakeholders. He added addressing the challenges will enhance raising number of investors further.

Source: Ethiopian News Agency