UN say foreign investment increases in Ethiopia

Oct 3, 2005 (ADDIS ABABA) — The United Nations Conference on Trade and Development (UNCTAD) said that Foreign Direct Investment (FDI) flow to Ethiopia has shown an increase.

This year’s International investment report was released on Monday at the United Nations Conference Center (UNCC).

Speaking at the occasion Director of the United Nations Economic Commission for Africa (UNECA), Augustin Fosu said Ethiopia, which is among promising African countries for FDI during the current European year, stands 12 in its FDI share from other African countries.

Some 233 billion USD FDI flow was registered since 2000 E.C, the report indicated, adding some 36 percent of the stated amount was share of developing countries.

On the contrary, the report said, FDI flow to developed countries has fallen by some 14 percent during the reported period.

The report further said Africa has obtained the biggest share of FDI flow and infrastructure development, while South Africa stands first among African nations.

The activities being carried out in the sector by developing countries would enable them forge coordination in attracting FDI, it was indicated.

Britain, Singapore and Korea have registered increase in FDI, while China, India and Singapore have taken over half of research and study activities during the stated period, the report said.

(ENA)