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African countries need to concentrate on building a green economy, said Meles Zenaw,i Prime Minister of Ethiopia, speaking at the annual Conference of African Ministers held in Addis Ababa, Ethiopia.

Alternative development paradigms are necessary because of the failure of neo-liberal paradigms in African development Meles said.

The economies of African countries are largely based agricultural activities and therefore any efforts toward green development need to take in account the agrarian sectors the Prime Minister explained.

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.

Ethiopia announced that it would welcome more Vietnamese investors in the trade and manufacturing sectors. It said it would offer attractive incentive packages for the Vietnamese companies and entrepreneurs especially for those who would engage in priority sectors. Vietnamese business delegation which is composed of 50 businessmen discussed with Ethiopian officials about potential investment areas and opportunities in Ethiopia.

The Ministry of Health has reported that more than 40 percent of the medicines supplied for domestic consumption are produced domestically.

Ethiopia attracted $700 Million in Foreign Direct Investment (FDI) during the first quarter of the fiscal year that started in July this year, the Ethiopian Investment Commission reported. The figure stands at 70 percent of the planned a billion-dollar target for the period.