April 17, 2012

The Sell out of Ethiopia: Oromia most exlpoited, Tigrai the least

Filed under: Azeb Mesfin,Ethiopia — ethiopiantimes @ 9:21 am
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Oromia Regional State has attracted the most Foreign Direct Investment in Ethiopia in the last ten years said the Ethiopian Investment Agency.

The region attracted 124.46 (34.76%) billion birr of the total sum of 357.98 billion birr in Foreign Direct Investment that made its way to Ethiopia in the last decade according to Getahun Negash, Corporate Communications Director with the EIA.

The Addis Ababa City Administration, which had earned the largest sum of FDI before ten years, is in the second place receiving 86.15 billion in total foreign investment explained Getahun.

The third largest foreign investment was in trans-regional investment projects that extend to more than one region and accounted for 48.49 billion birr of the total.

The Amhara Regional State ranked fourth in attracting investment with 39.14 billion birr investment with Dire Dawa coming in at number five with a total of 23.61 billion as its shared of FDI.

The Gambella and Southern Regions obtained 12.84 billion and 11.41 billion birr respectively  and came in the 6th and 7th slots while spots 8-12 were taken by Benishngul-Gumuz, Tigray, Afar, Somali and Harari states in that order to take up the remaining sum from the total investment.

The last ten years has seen significant progress in the nations potential to attract foreign investment with help of policies and strategies that offer incentives for Foreign Direct Investment it was said.


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