Ethiopian Diaspora investment reaches 19.4 billion birr

Addis Ababa, July 1, 2011 - The Ministry of Foreign Affairs (MoFA) said Ethiopians in the Diaspora and foreign nationals of Ethiopian origin have invested 19.4 billion birr at home. Diaspora Information and Research Director at MoFA, Tesfaye Wolde, told WIC yesterday that over 2,235 investment projects have been registered over the past 10 years. The director indicated that the projects focused on hotels, real estates, agriculture and construction. A total of 1,141 projects are operational and the remaining 1,925 are under construction, Tesfaye said. He also added that the Diaspora’s engagement in knowledge transfer is also on the rise. “There are many Diasporas teaching in various universities of the country,” Tesfaye told WIC. Ethiopians in the Diaspora have also expressed their backing for the successful completion of the Renaissance Dam by purchasing a 100,000 USD worth bonds from the Ethiopian Electric Power Corporation (EEPCo). Tesfaye urged Ethiopians in the Diaspora to strongly continue their participation in the country’s political, economic and social affaires. (www.waltainfo.com)