Ethiopia is the Third top FDI recipient nation in Africa in 2023-UNCTAD
Bahir Dar, July 7, 2023 (AMECO) According to the United Nations Conference on Trade and Development (UNCTAD), Ethiopia is the Third top FDI recipient in Afirica following Egypt and South Africa. In the year 2023 Ethiopia has received US$3,670 Million, the report indicates.
UNCTAD’s World Investment Report 2023 reveals a widening annual investment deficit that developing countries face as they work to achieve the Sustainable Development Goals (SDGs) by 2030.
The gap is now about $4 trillion per year up from $2.5 trillion in 2015 when the SDGs were adopted.
The report shows that global foreign direct investment (FDI) fell 12% in 2022 and analyses how investment policy and capital market trends impact investment in the SDGs, particularly in clean energy.
It highlights that developing countries need renewable energy investments of about $1.7 trillion each year but attracted only $544 billion in clean energy FDI in 2022.
Although investments in renewables have nearly tripled since 2015, mnost of the money has gone to developed countries.
The report calls for urgent support to developing countries to enable them to attract significantly more investment for their transition to clean energy. It proposes a compact setting out priority actions, ranging from financing mechanisms to investment policies, to ensure sustainable energy for all.
Source: UNCTAD
