Ethiopian Investment Commission (EIC) disclosed the foreign direct investment (FDI) flow has grown by 35 percent in the last 6 months when compared to the same period in the previous fiscal year. During the first half of the current fiscal year, Ethiopia has managed to attract 1.2 billion USD.

Commenting on the matter Mekonnen Hailu, Public Relation Head at the Commission, attributed the rise in the FDI flow to the expansion of the industrial parks in Ethiopia.

During the 6 months period giant companies from Europe, America and Asia came to Ethiopia, Mekonen explained. Among others, 3 Chinese manufacturing industries and 2 Indian companies took shades at Hawassa Industrial Park within the 6 months period, he noted.

According to the Public Relations Head, infrastructure and power supply, stability and cheap labor were among the reasons that attributed to the FDI flow increase.

Source: Walta Information Center