Ethiopia Expecting This Financial Year to Be a Record for FDI

Fitsum Arega, head of the country's investment agency, has said the Government expects this year to be a record for foreign direct investment, up 25 per cent from last year's US$1.2billion to reach a record US 1.5 billion, with successful efforts to attract overseas manufacturing companies.

These figures do not include plans by China's Huajian, the world's biggest shoemaker, for an additional planned US$2 billion to build its own industrial park and expand its existing Ethiopian workforce to 30,000 in the next few years.

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