Ethiopia's Special Economic Zones (SEZs) are experiencing a surge in activity, with exports exceeding $23 million in the first quarter of the 2024/25 budget year. This positive trend is attributed to the country's recent opening to foreign investment, attracting 78 overseas investors interested in Ethiopia's business sector.
The Ethiopian Investment Commission (EIC) reported issuing 8 new investment licenses during this period and transferring existing industrial parks to SEZs. This strategic move aims to further enhance the country's investment landscape and attract more foreign investment.
Overall, Ethiopia's exports generated $131.4 million in the first quarter, demonstrating a strong start to the fiscal year. The success of the SEZs highlights the potential of Ethiopia's growing economy and its commitment to attracting foreign investment.
This news comes as a positive sign for Ethiopia's economic future, signaling a promising outlook for the country's industrial development and export potential.