Ethiopia tops foreign direct investment in East Africa – Finance Minister

Addis Ababa, September 4, 2024 (FBC) – Minister of Finance Mr. Ahmed Shide stated that Ethiopia has emerged as the top destination in East Africa for attracting foreign direct investment, solidifying its position as a beacon of economic growth and opportunity in the region.

The Finance Minister made this statement at the Ethiopia-China High-Level Business Forum being held in Beijing on the sidelines of the Forum on China–Africa Cooperation (FOCAC) Summit 2024.

On the occasion, Mr. Ahmed said that Ethiopia’s economy has recorded faster growth than other fellow African countries in the past six years in the face of various challenges.

He stated that Ethiopia’s capital market, economic reforms and other conditions make it suitable for investment and explained that agricultural development, tourism, manufacturing and other sectors are viable.

For his part, Minister of Innovation and Technology, Mr. Belete Molla, mentioned that Ethiopia is in the process of building a digital economy and explained that the sector is open to foreign investors that wish to engage the country.

Minister of Health, Dr. Mekdes Daba, stated for her part that the infrastructures for investment in the health sector are ready.