Ethiopia has remained East Africa’s top recipient of Foreign Direct Investment at $3.3 billion US dollars in 2018.
This is despite an 18% drop compared to the year before, according to a report from the United Nations Conference on Trade and Development (UNCTAD).
The report says FDI’s in Ethiopia were concentrated in petroleum refining, mineral extraction, real estate, manufacturing and renewable energy.
The country which is ranked 116 out of 130 countries in the World Bank ease of doing business says it is working on economic and political reforms to attract more investors.
Ethiopia’s Travel & Tourism economy grew by 48.6% in 2018, the largest of any country in the world, contributing $7.4 billion to the country’s economy according to the World Travel & Tourism Council’s (WTTC) annual review of the sector.
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