24 June 2014

Ethiopia, Kenya Top in East Africa in FDI - UN

Ethiopia and Kenya have become top in the East Africa Region in attracting Foreign Direct Investment (FDI) in 2013, said the United Nations World Investment Report 2014.

FDI growth in these two nations has helped the region's FDI growth by 15 percent as a whole and generated 6.2billion USD, indicated in the report.

It is stated that the industrial strategy in Ethiopia, which especially creating enabling condition for Asian investors, has contributed for the FDI growth in the country.

Ethiopia, Myanmar, Mozambique, and Cambodia are mentioned in the report that they used FDI for building Climate Resilient Green Economy.

Compared to South Africa and Nigeria, top in the continent in attracting FDI,Ethiopia and Kenya need to work more on the sector.

FDI in developing nations has grown by 57 percents; and 778 billion USD invested here.

Reporter: Getu Lakew

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