FDI shows reduction in Ethiopia; supporting foreign investments damaged by anti-gov’t protests costs regime over 100 Mil. Birr so far

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Fitsum of EIC Picture source ENA

13-2-2017

Fitsum of EIC Picture source ENA

In an interview with the Ethiopian state news agency, ENA, Fitsum Arega, Commissioner of the Ethiopian Investment Commission (EIC), said that the government has so far paid out over 100 million Birr “in financial support for companies whose properties have been damaged due to the unrest to put them back on track to their investment undertakings.”

The support has so far been given to companies engaged in horticulture production in the Oromia and Amhara regions.

Although the country attracted a FDI of close to 1.5 billion USD during the first half of the previous year, in the first half of the current fiscal year, the FDI attracted was 1.2 billion USD, lower than the previous year.