afrol News, 4 August - During the past six months, the government of Ethiopia has attracted over US $8 billion worth of investment by issuing licence to foreign investors in agriculture, construction, hotel and tourism sectors.

An annual report by the Ethiopia's Investment Agency said investors will also venture in real estate development, manufacturing, education, health, power generation and many others.

However, foreign investors are banned from venturing into sectors such as telecommunications, banking and insurance businesses.

The investors are expected to implement more than 1,500 projects across the country, creating jobs for more than 836,000 people.

According to the agency, the current year's total capital investment is US $3 billion more than that of the previous year.

The licenced investors, who are believed to have been magnetised by Ethiopia's investment alternatives and lucrative incentives, hailed from Europe, Asia, the United States, Middle East and Africa.

By staff writer

© afrol News

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