Ethiopia to Register Steady Economic Growth Over the Next Five Years: NBQ

Addis Ababa A recent research commissioned by the National Bank of Qatar (NBQ) disclosed that Ethiopia will continue to register steady economic growth over the next five years (2018-2023) following Myanmar and India.

Back in 2000, Ethiopia was even poorer than Myanmar with GDP per capital only about $650, leaving it the third poorest country in the world, the research indicated.

According to the research, Ethiopia's fastest economic growth will speed up further following the recent rapprochement and peace deal the nation has inked with Eretria, potentially providing the nation with a closer international market and access to port facilities at the two Eritrean Ports of Massawa and Assab.

Moreover, the country has come up with attractive investment incentives to lure FDI into the country, the research stated.

Recent shift made by Ethiopia on partial privatization of some of the commanding heights of the economy including air transport, telecommunications, railway, power generation and several other sectors is expected to lure international companies some of whom have already started to eye investment possibilities in Ethiopia.

Investors from Qatar are already investing in the construction of hotels and the agriculture sector.

Source: Ethiopian News Agency