Chinese investors keen in investing in Ethiopia: Official

ADDIS ABABA - Chinese investors have shown their keen interest to invest in Ethiopia, said Ethiopian Investment Commission (EIC) head Fitsum Arega on Thursday.

The African country in the past three months received 124 investors who have keen interest to invest, out of whom 71 were from China, said Arega.

Data from the EIC also show that the number of Chinese investors with keen interest to invest in the country is larger than other countries combined.

Arega also expressed his regret and sadness over "the appalling damages, indiscriminate looting and destruction sustained by national and foreign investment projects operating in some parts of Ethiopia and the short-lived state of insecurity".

"The chain of unfortunate incidents last month have come at greater cost to business and had created a sense of insecurity and business uncertainty. Since, the government has taken decisive measures to restore peace and order and assuage the concerns leveled by various investors," he noted.

According to Arega, despite challenges such as drought and insecurity, the country's foreign direct investment has registered a 50-percent increase to reach $3 billion in last budget year.