Ethiopia attracts half a billion Addis Ababa   November   10, 2016 - Ethiopian Investment Commission said the recent unrest has not caused serious impact on foreign direct investment (FDI) flow into the country.
In a press briefing he gave today, Ethiopian Investment Commission Commissioner Fistum Arega said significant investments have been witnessed during the past three months.
He revealed that investments with capital of 560 million USD were registered during the quarter and this does not show significant decrease from the performance of same period last Ethiopian year.
Some 124 investors have also expressed interest to do business in Ethiopia with 3.5 billon USD capital, the Commissioner said, adding that of those 74 are Chinese.
Companies from Asia have growing interest to particularly invest in labor intensive projects such as textile, leather and electronics, Fistum stated.
According to him, agreement was reached with a Chinese company for the construction of an industrial park in Oromia regional state, despite the unrest.
Asked about compensation for companies damaged by the unrest, the Commissioner said the government is providing the necessary support to horticulture companies, taking into account their role in export and labor-intensive nature of the businesses.
The government is also facilitating conditions to give loans to all affected companies so that they can pay salaries and cover other expenses, Fistum indicated.
The Commissioner said only one of the damaged 24 horticulture companies has not yet started work, while two of the 23 affected industrial investment projects stand idle.

Source :- http://http://www.ena.gov.et/en/index.php/economy/item/2249-foreign-direct-investment-flow-not-significantly-affected-by-recent-unrest-eic;

bosch siemensAddis Ababa November 15, 2016 A delegation from SIEMENS and BOSCH paid a business visit to Ethiopia; a country they said is offering vast investment opportunities with a favorable climate to invest.  

The 20 member German and Bavarian business delegation is keen to invest in the country.

The delegation observed that Ethiopia’s geographic location and its active membership in regional and international bilateral trade make it a desirable investment destination.

"The investment climate is very positive along with the economic growth which helps foreign companies, especially, German companies to be interested in investment opportunities in the country," said Richard Schurink, Regional Director for Foreign and Public Affairs of BOSCH.

Commending the investment opportunities in Ethiopia, the regional director said: "we definitely foresee further improvements in airport security systems with BOSCH products in Ethiopia boosting the development programs of the country in the future and we are considering next year to be here with the BOSCH department heads."

 Read more at :- http://www.ena.gov.et/en/index.php/economy/item/2270-siemens-bosch-keen-to-invest-in-ethiopia

 

Ethio South Africa(EBC; November 3, 2016)- Ethiopia wants more foreign direct investment in agriculture, energy, transport, and manufacturing among other sectors, as it seeks to sustain an average economic growth rate of 11% over the last decade, according to Wegeyehu Berga, the Minister Counselor of Business Promotion at the Ethiopian Embassy in Pretoria.

The Trade relation between Ethiopia and South Africa has grown both in value and volume from 42 million USD in 2004 to 95 million USD in 2011.

Ethiopia exports various products, such as dried kidney beans, white pea beans, coffee, roses, ginger, leather, and semi- manufactured gold to South Africa, while it imports coal, petroleum, medicine, explosives and vehicles.

The bilateral relation of the two countries, which is based on the spirit of pan – Africanism on African goodwill, has steadily been growing. Both countries are committed to the consolidation of the African agenda and the centrality of NEPAD in the continents effort to deal with the twin challenges of poverty and under development.

Source: Celebrating Progress Africa

source: http://www.ebc.et/web/ennews/-/ethiopia-seeks-more-fdi

map1Addis Ababa, November 11, 2016 (FBC) – Ethiopia has attracted more than half a billion US dollars foreign direct investment (FDI) in the first quarter of this fiscal year, said the Ethiopian Investment Commission (EIC).

The FDI flow to the country in the reported period was equivalent compared to the same period the previous fiscal year, Fitsum Arega, Commissioner of the Ethiopian Investment Commission said at a press briefing yesterday.

However, the violence and unrest occurred in the past months partly affected the country’s target of attracting more FDI in this fiscal year, he said.

According to Fitsum, government’s huge investment in infrastructures; namely railways, hydropower, telecom, road and industrial parks have played a big role in attracting FDI.

Read more at :- http://www.fanabc.com/english/index.php/news/item/7362-ethiopia-attracts-half-a-billion-us-dollars-fdi-in-first-quarter

 

G0403 DatawatchBlogEthiopia’s economy has been expanding at an average annual rate of 10 per cent in the 12 years to 2016 and
growth is expected to remain strong in the years ahead, supported by higher agricultural production, and large
public sector and foreign direct investments.
In 2020, Ethiopia is set to be the 66th world largest economy, up from 103rd in 2005, overtaking countries like
Kenya, Guatemala, and Bulgaria.

Read more...Ethiopia-sprints-3 (PDF)