Ethiopia has secured 2.05 billion dollars from Foreign Direct Investment (FDI) in the past nine months, according to the Ethiopian Investment Commission (EIC). The revenue surpasses that of the same period last year by 6.7pc despite the challenges presented by the Novel Coronavirus (COVID-19) pandemic and instability in parts of the country. The country received 2.5 billion dollars worth of investment in the last fiscal year, however, the amount had dropped by 600 million dollars compared to the 2018/19 fiscal year. The manufacturing sector contributed 85pc of the stated revenue while the agriculture and services sectors contributed five and 37 percent, respectively. “Another mission of the Commission is to enable industrial parks, both public and private, to reach full production capacity. As a result, they have been able to export 129 million dollars worth of products in the last nine months,” stated Commissioner Lelise Nemi. She noted that despite the increase in export products from industrial parks and manufacturers, COVID-19 lockdowns have become major challenges that hinder access to European and US markets.
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