Ethiopia recorded a 14 per cent increase in foreign direct investment during the 2023/2024 fiscal year
Chinese investors have significantly contributed to Ethiopia's economic growth, injecting over US$8.5 billion into the country and creating thousands of jobs, according to the Ethiopian Investment Commission (EIC).
The EIC reports that 3,309 Chinese-led projects have played a key role in supporting Ethiopia's socio-economic development goals, enhancing both its infrastructure and industry sectors, reports Xinhua News Agency, a partner of TV BRICS.
These projects have created more than 325,400 permanent and temporary jobs for Ethiopians in recent years, greatly benefiting the local workforce.
Ethiopia also recorded a 14 per cent increase in foreign direct investment during the 2023/2024 fiscal year, securing US$3.9 billion. The EIC credits this growth to increased Chinese involvement, as the nation continues to attract foreign capital for its economic expansion.
Photo: iStock
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