ADDIS ABABA — The United Nations Conference on Trade and Development (UNCTAD) has commended Ethiopia's ongoing macroeconomic reform policy, citing its significant impact on improving the nation's economic environment and enhancing investor confidence.

According to Ethiopian News Agency, UNCTAD Regional Office for Africa Chief, the reforms implemented by Ethiopia are poised to address long-standing economic structural issues, fostering a transformational change. Speaking to ENA, Sayinzoga expressed optimism about the reforms' capacity to strengthen the macroeconomic environment and attract foreign investment. She highlighted the recent overhaul of the Foreign Exchange Regime by Ethiopia's central bank, which aims to enhance the country's appeal to foreign investors and align its business environment with regional standards.

The reform policy has already started to influence foreign direct investment (FDI) inflows positively, with significant interest from private investors in the incentives and facilities offered by the Ethiopian Investment Commission (EIC). Sayinzoga pointed out the government's commitment to fostering a favorable investment climate as a key motivator for UN agencies, including UNCTAD, to support these initiatives.

Moreover, UNCTAD has been collaborating with the Ethiopian government for over two decades, providing technical assistance to the EIC and other entities in investment policy, trade facilitation, and other areas. Sayinzoga noted that the new exchange rate system, which moves away from previous foreign exchange controls known to deter investors, is expected to deepen FDI interest and activities in Ethiopia.