ADDIS ABABA, March 26 (Xinhua) -- Ethiopia's flagship investment forum, dubbed "Invest in Ethiopia," kicked off on Thursday, aiming to boost foreign direct investment (FDI) inflows and drive economic transformation.
The fourth edition of the forum was held under the theme "Ethiopia: Ready for Business" in Addis Ababa, the country's capital. The two-day event has attracted hundreds of investors, business leaders and advisors from across the globe, according to the organizers.
Beyond showcasing the East African nation's investment opportunities, authorities expect the forum to facilitate the signing of agreements worth more than 2.4 billion U.S. dollars.
Addressing the opening session, Ethiopian Deputy Prime Minister Temesgen Tiruneh said the government is committed to fostering a competitive and conducive investment climate as part of ongoing economic reforms.
Inviting global investors to tap into the country's growing opportunities, he said the forum's theme reflects Ethiopia's resolve to create a "conducive, predictable and attractive business environment" for both domestic and foreign investors.
High-level discussions and side events are expected to highlight Ethiopia's investment potential, policy frameworks and progress in macroeconomic reforms, organizers said.
Zeleke Temesgen, commissioner of the Ethiopian Investment Commission (EIC), said that broader economic reforms are "creating a system where investors can enter, operate and grow with confidence."
According to the EIC, Ethiopia has become the second most attractive destination for FDI in Africa, with China as its leading investment partner. The country attracted a total of 18.6 billion dollars in FDI over the past five years, ranking second on the continent after Egypt.
The government attributed the increase in FDI inflows to its recent shift toward a more open investment policy, allowing foreign investors to participate in key sectors, including export, import, retail and wholesale, that were previously restricted.
