Investment surges to USD 10bln
Ethiopia attracted foreign and local investment worth USD 10 billion in 2007/08, a rise of 35 percent on the previous year, the government said. Abi Woldemeskel, head of the Ethiopian Investment Authority, said the sharp increase was thanks to an aggressive worldwide promotional campaign that boosted inflows to sectors, including agriculture, flowers, textiles and tourism. Abi told reporters China had invested particularly heavily, pumping some USD 800 million into construction, telecoms and agro-industry projects.