The Ethiopian Investment Commission (EIC) reported a successful first quarter for the current fiscal year.

In a performance review attended by top management and employees, the EIC revealed that it issued 108 new investment licenses during the period. Of these, 65 were for fully foreign-owned projects, 24 for joint ventures, and the remaining 24 for domestic investors.

Following the government’s decision to open the trading sector to foreign investors, 78 foreign applicants have shown interest, with 24 already approved to begin the licensing process.

The Commission also highlighted its efforts to transform Industrial Parks into Special Economic Zones (SEZs), a strategic shift aimed at boosting industrial output and foreign investment.

On the export front, the country recorded over 131 million USD in revenue from industrial products, with SEZs contributing more than 23 million USD to this total. EIC’s Commissioner Zeleke Temesgen noted that the commission achieved improved results in attracting FDI compared to the same period last year.

Source: Ethiopian News Agency