Foreign Direct Investment to the country remains the same despite the declaration of the State of Emergency. The Ethiopian Investment commission Commissioner Fitsum Arega told Afro FM that the government’s commitment restored confidence among foreign investors.
Over the recent years Ethiopia has become highly attractive for foreign investment, especially among countries such as China, India, Turkey and Sudan. These countries remain among the top three investors in the country.When speaking to Afro FM the commissioner said these countries have continued to invest in Ethiopia as countries like China have gone through similar stage during their developmental stage.
Fitsum also told Afro FM that interventions by the government restored the confidence of investors in the face of the recent security challenges.
“Yes there were continued investments from China from Europe so the investment, the image the perception the country had before the attack and after the attack. The perception is a bit obscure, but after the engagement, after they have seen the government is delivery what it promised in terms of security their commitment to continue their engagement has increased. To be Frank the security challenge affected investment, affected tourism, but when the government intervened, by state of emergency and continuous engagement with investors and we have had meeting with UK, Turkish and China’s companies and we also have regular quarterly meeting were we address different challenges they may face during their implementation or operation phases.”
A couple of new investors Afro FM spoke to said they have decided to continue their investment in the capital.
China ranks top in foreign direct investment in Ethiopia. Chinese projects currently stand at 207 leading India by over 152 more projects. China is followed by India and Sudan in 2nd and 3rd place with the highest foreign direct investment according to the information secured from the Public Relations Directorate.