UN: Investment improving in Ethiopia

UN: Investment improving in Ethiopia

By Addis Mulugeta

As the world economy begins the recovery from a serious recession, United Nations Conference on Trade and Development (UNITED) released its ‘World Investment Report 2009′ on September 18 at UNECA.

The report entitled, “Transitional Corporations, Agricultural Production and Development” says that Ethiopia has achieved four per cent increases in the amount invested in agriculture and in foreign direct investment ( FDI ), compared with the last three years’ three percent.

It stated that due to the global economic crisis, Africa, where FDI flows peaked in 2008 after six years of uninterrupted growth, will likely see a fall in flows in 2009. The study reveals that FDI inflows to Africa reached a record high of 88 billion dollars in 2008, however, based on preliminary data in the first quarter of 2009, they plummeted by roughly 67 percent this year compared to last year.


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