As per the new economic reform program, Ethiopia has opened up its markets for foreign direct investment. The country received $3 billion in aid and investments. The financing agreement includes $2 billion inward net FDI inflow on productive investments in industrial parks, manufacturing, hospitals, hotel and mall. An additional $1 billion will be deposited into the National Bank of Ethiopia to address the temporary forex constraints.

Recently, the government also announced plans to privatise some of the country’s most valued public enterprises, including the Ethiopian Airlines Group, as well as the state-owned EthioTelecom, to attract more FDI. Ethiopians will be offered 5 per cent in the new firms, and 30 to 40 per cent will be sold to telecoms players globally.

It also agreed to jointly invest in four seaports with Mogadishu as the two nations seek to attract foreign investment. Ethiopia also has an agreement with Somaliland signed in March to manage the Berbera port, with Addis acquiring a 19 per cent stake in the port.