The Real Side of Ethiopian Investment Commission

The government of Ethiopia enacted legislation and implemented clear and workable policies to encourage and expand foreign investment in the Ethiopian economy. Taking this fact into consideration, Ethiopian Investment Commission (EIC) has been promoting foreign direct investment (FDI). In cognizant of the positive effects of FDI in the economic growth of the nation, the Commission also provides all the necessary support to investors so as to become successful in their investment endeavors that has resulted in a significant effect on contemporary economic growth of the country.

With a view of realizing the vision of “Making Ethiopia the leading manufacturing hub in Africa,” the Commission has been jointly working with governmental organizations and other development partners. The overall activities of the Commission are supervised and followed by the PM and Ethiopian Investment Board.

Foreign direct investment (FDI) has huge potential for making immense contribution to the development of the country through creating ample jobs, generating hard currency and transferring technology, understanding this fact the Commission has been jointly working with various development partners.

The development partners are mainly working with the Commission by providing capacity building and technical assistance and funding is managed by other governmental and non-governmental organizations not by the Commission. All the projects that the writer mentioned have become very successful in supporting the FDI inflow in the emerging nation.

However, an article that has been written by the name of Mohammed Saido suddenly appeared, generating false claims as well as fictitious examples, trying to twist facts into what the writer wants the readers to believe in hopes of disrupting and diluting relationships with development partners and international investors. We have discovered that Mohammed Saido is a fictitious name, and posted this commentary on your website recently under the title “Concerning all the Projects in Ethiopian Investment Commission.” We have reason to believe that this defamer is a disgruntled employee who has been passed up for promotions due to his lack of competency.

As an example, the defamer criticized the young professionals and contract employees hired by the projects and contributing soul and mind to their country even though they might not be public servants. It is undeniable fact that the involvement of these employees is indispensable to accomplish the Commission’s vision and mission. In this rapidly changing world, the only way for organizations to remain competitive is to employ highly skilled human power. In this regard, EIC’s development partners have rooms and alleviate the problem of experienced and qualified Ethiopian and foreign employees and enables the service that provided to investors become more effective and efficient.

As the Commission abiding by the rules and regulations of the government, it has been audited by the Federal Auditor General since long and the audit report confirmed that the organization is clean. Regarding the employees that have been mentioned in the libel, most of them resigned the organization with their willingness and joined business companies for better positions and salary and others also have retired from job. All these points, of course, are important facts that reveal the story is completely fictional.   

The Commission has this country’s best interest in mind. So much so, the Commission has been awarded the ‘2017 United Nations Award’ for outstanding performance in targeted promotion, facilitation and execution of sustainable investment projects. The Award was announced by the United Nations Conference on Trade and Development (UNCTAD) during the 9th Investment, Enterprise and Development Commission on 20 November 2017, in Geneva.

The Commission also received the award as the, “Best Investment Promotion Agency in East Africa.” in United Arab Emirates. The award was presented to EIC at the Annual Investment Forum held 9-12 April 2018 in Dubai, United Arab Emirates. This clearly indicated one of the greatest accomplishments of the country in FDI.

On top of that a “Star Reformer Award” has been given to the Government of Ethiopia for its effective foreign direct investment (FDI) related reforms and resulting success. This award was presented at the World Bank Group Investment Competitiveness Forum held in Vienna on October 25, 2017.

To sum up, the article written on EIC by a fictitious name is complete defamation and does not reveal the existing situation about the Commission. As the sayings goes, “You reap of what you saw” and the awards show the achievements of the Ethiopian Investment Commission and its development partners, not the failure.

By: Mekonnen Hailu, EIC Public Relations Director