Ethiopia ranks 2nd in the world in attracting foreign direct investment of building data center

Addis Ababa, November 2, 2022 (FBC) – Ethiopia’s capital, Addis Ababa, ranked second in the world following Beijing in terms of attracting foreign direct investment in data center construction, according to a global study.

“FDI Intelligence” recently released a list of cities in the world that are preferred to attract foreign direct investment in data center construction.

It is stated that the study includes 100 cities that have attracted good foreign direct investment in the data center construction sector from January 2003 to June 2022.

Quality and advanced data center construction, complete infrastructure development, adequate construction site preparation, manpower and other criteria have been included in the study.

According to FDI’s study, the African capital, Addis Ababa ousted London, Shanghai, Tokyo, Istanbul and Seoul to become the second city in the world for attracting foreign direct investment in the construction of data centers at the international level.

The study revealed that China’s Beijing is the world’s leading city in this field.

The study also mentioned that Addis Ababa is currently being preferred by various international companies to build a data center of international quality at an affordable price.

For instance, after the Ethiopian government allowed foreign companies to engage in the telecom sector, a company called Safaricom started providing services.

It was also pointed out that the company is planning to build its first data center in Addis Ababa at a cost of $100 million.

Furthermore, Djibouti’s Wingu.Africa, USA’s Roxio and Cambodia’s Red Fox companies disclosed plans to invest in the sector in Addis Ababa, the research indicated.

After Addis Ababa, London, the capital of England, is said to be the third preferred city for attracting foreign direct investment in the field of data center construction.