Ethiopia’s private sector is experiencing a significant surge in investment, with over $2 billion committed to new projects following recent policy and legal reforms. The introduction of a new Investment Proclamation has opened numerous sectors to foreign investors, resulting in a wave of business activity.
According to the Ethiopian Investment Commission (EIC), more than 150 investment projects have emerged since the proclamation was enacted, leading to an influx of over $1.2 billion in various sectors. Habtamu Simachew (PhD), Legal and Policy Advisor at the EIC, highlighted the positive impact of these reforms, stating, “The number of investment projects and the capital invested in newly opened sectors have increased significantly.”
A notable development in Ethiopia’s investment landscape is the establishment of special economic zones, which aim to enhance the business climate and attract further investments. “The new special economic zone initiative is a major step forward for Ethiopia and its investment environment,” Habtamu added.
These remarks were made during the ALN Ready Business Roadshow – Ethiopia Edition, held at Skylight Hotel, where key business leaders, investors, and decision-makers gathered to explore the growing investment opportunities in the country.
Eyob Tekalgn, State Minister of Finance, emphasized the importance of these reforms during a panel discussion at the event. “In the early months of reform, we assessed that we were at a crossroads; we could either take our economy to the next level or face a serious economic crisis,” he stated.
