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Ethiopia: Commission Implementing New Strategies to Stimulate Foreign Direct Investment

The Ethiopian Investment Commission announced that it was working to stimulate foreign direct investment by implementing new strategies.

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The Director of Foreign Direct Investment Promotion at the Ethiopian Investment Commission Aschalew Tadesse noted that the Commission focused on supporting those investors who were interested in investing in the country. It was also reported that there were activities to implement newly formulated promotion and incentive strategies.

In related news, the Council of Ministers approved a new investment incentives regulation in its 8th ordinary summit with the aim of encouraging investment. The new investment incentives regulation provides tax incentives including income tax exemption and duty-free privileges for investors.

Ethiopia attracted USD 2.43 billion in foreign direct investment during the first nine months of 2021/2022 fiscal year while welcoming 118 investors in the manufacturing, service, and agricultural sectors.


 

Source: Fana BC, Capital Ethiopia, Xinhua

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