Ethiopia Embarks on New Investment Strategy to Attract Global Investors: EIC Commissioner

Addis Ababa, February 22, 2025 (ENA)—The Ethiopian Investment Commission (EIC) has been intensifying new strategies to attract more international corporations and leverage the country’s ongoing transformation.

Commissioner of the EIC, Zeleke Temesgen told ENA that Ethiopia is strategically positioning itself as a leading investment destination through significant reforms.

“With a dynamic and reformist government at the helm, the country is rapidly becoming a hub for international corporations looking to invest and expand,” he noted.

From its strategic location in the Horn of Africa to its large and growing market, Ethiopia offers a thriving environment for businesses of all sizes, it was learned.

The government is actively promoting investments, creating policies that foster economic growth and stability, and ensuring a welcoming atmosphere for foreign investors, according to Zeleke.

The commissioner, particularly, highlighted key measures, including the opening up of previously closed sectors to foreign investors and streamlined processes for import-export and wholesale-retail licensing, as essential steps in fostering a more investment-friendly environment.

 

 He also shared that the government's goal-oriented investment promotion strategy is currently in its second phase, with the target of attracting 3,000 leading companies.

“We’ve already reached over 600, with several companies actively establishing operations, showing tangible results,” he said.

For Zeleke, macroeconomic reforms, particularly addressing foreign exchange challenges, have played a pivotal role in enhancing the country’s attractiveness to foreign investors.

The commissioner specifically pointed to the recent liberalization of the banking sector, which has significantly boosted foreign direct investment (FDI).

As the top FDI hub in East Africa, Ethiopia is now working to extend its reach across the continent.

Among the countries that have chosen Ethiopia as their investment destination are companies from China, Singapore, India, Russia, Italy, the Netherlands, Japan, Malta, Turkey, Pakistan, and Saudi Arabia, it indicated.