Ethiopia stands first in African countries in cost effectiveness for FDI
Sept 12, 2005 (ADDIS ABABA) — A foreign magazine entitled “Foreign Direct Investment” said Ethiopia stood first among African countries in cost effectiveness for foreign direct investment, the Ministry of Foreign Affairs said.
In its statement sent to ENA, the ministry said on Monday the magazine published by Financial Times Business Ltd Ethiopia ranks second for its favorability for foreign direct investment among East and Central African Countries.
In its 2005-2006 evaluation, the magazine says Ethiopia is favorable for foreign direct investment with its cheaper labor and suitable infrastructural development, among others, the statement said.
It said the country had licensed foreign investment projects with an aggregate capital of 1.1 billion USD.
(ENA/ST)