The number of investors interested to start business and investment in Ethiopia has grown by threefold during the past two years, the Ministry of Foreign Affairs said.
Some 365 investors visited Ethiopia in 2005 E.C., either to see the opportunities, conduct feasibility assessment or open their investment, this number has reached over 1,000 last year – up by almost threefold.
The investors came under business delegations mostly led by high-level officials of their respective countries, Kebede Abera, Business Diplomacy Director General at the Ministry told ENA.
The delegations were from China, Japan, Finland, Italy, Israel, Turkey and UAE, among others.
The director said the government of Ethiopia has undertaken valuable activities regarding economic diplomacy to attract more foreign direct investment.
He attributed the success to concerted efforts carried out to facilitate things to smoothen the activities of investors, including land grant and infrastructure development.
The government is working to increase foreign direct investment so as to ensure the development of the country, he said.
Ethiopia has become one of investment destinations for branded companies which, he said, is evident from the increasing number of investors from all over the world.
According to Ahmed Abtew, Minister of Industry, a number of activities carried out over the past years helped to increase the number of foreign investors in the country.
The Ministry is working with stakeholders to address challenges raised by investors, he said, adding, addressing the challenges will help raise the number of investors further.
[ENA]