Ethiopian Investment Commission (EIC) says it attracted USD 2.3 billion in investment during the first six months of the current fiscal year, citing ongoing efforts to ease bottlenecks in the investment environment.

EIC Commissioner Zeleke Temesgen (PhD) said the commission and other government bodies had been working to address investors’ complaints by facilitating access to cleared land through third parties and closing operational gaps that had slowed project implementation. He said these measures had helped improve investment inflows and contributed to increased foreign exchange generation.

According to the commissioner, the USD 2.3 billion figure represents an increase of more than 20 percent compared with the same period last year.

Despite the reported gains, Zeleke said Ethiopia still needed to do more to fully leverage its investment potential, noting that further improvements are required to sustain and expand inflows.

The commission also reported that it issued investment licenses to 245 local and foreign investors over the six month period.

Source: Fana BC