The Ethiopian Investment Commission (EIC) reported a 7.87% increase in foreign direct investment (FDI) inflows during the first quarter of the current Ethiopian fiscal year compared with the same period last year.

Commissioner Dr. Zeleke Temesgen described the quarterly performance as “encouraging” and highlighted the need for continued coordination and commitment to sustain growth in the coming quarters.

The Commission issued 123 new foreign investment licenses in the quarter, a %26 rise from 108 licenses granted in the first quarter of the previous fiscal year. Investments operating in Special Economic Zones (SEZs) generated over $49 million in export revenue, more than doubling the $23 million recorded in SEZs during the same period last year. Overall industrial exports for the previous fiscal year’s first quarter reached $131 million.