Call for Ethiopia to improve infrastructure to attract investment

Ethiopia needs to improve its infrastructure in order to attract direct foreign investment, according to Supachai Panitchpakdi, the head of the UN Conference on Trade and Development (UNCTAD).

Supachai Panitchpakdi

Supachai Panitchpakdi

Mr. Panitchpakdi was commenting on the measures that the country has taken to implement the recommendations UNCTAD made in 2002 for creating conditions for investment.

He said that Ethiopia had achieved positive results in its agriculture sector and the production of leather goods.

“Despite this progress most still remain to be done. The Ethiopian Investment Agency needs further strengthening and the lack of basic infrastructure remains a significant constraint to investment, including foreign direct investment. FDI attraction is further constrained by the remaining restrictions to foreign investment in sectors which are key to private sector development which includes banking and telecommunications.”

Duration: 26″

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