Ethiopia has signed investment agreements and memoranda of understanding worth $13.1bn at the Invest in Ethiopia 2026 forum, with the Office of the Prime Minister of Ethiopia describing the outcome as a boost to investor sentiment, although most commitments remain at an early stage.

The total is heavily concentrated in a $10bn planned investment by Ming Yang Smart Energy Group Ltd. (SZSE:601615) of China in green ammonia production and electrical equipment manufacturing.

Other agreements include $2bn in manufacturing projects in a Special Economic Zone (SEZ), $500mn in steel and pharmaceutical production, and smaller investments spanning mining, solar manufacturing and real estate.

“These agreements mark a historic milestone and reflect the growing confidence of global investors in Ethiopia’s reform-driven economy,” the Prime Minister’s Office said in a statement, cited by state news agency ENA.

The structure of the deals has not been disclosed, with no breakdown between equity, debt or phased commitments, and timelines for execution remain unclear.

The agreements were signed with partners from China, Poland, India, Singapore and Kenya, covering energy, mining and industrial sectors.

At $13.1bn, the announced pipeline is significant relative to Ethiopia’s annual foreign direct investment inflows, which have typically ranged between $3bn and $4bn in recent years, highlighting the scale of the government’s ambitions.

Energy and industrial projects dominate the pipeline, with the bulk of capital directed towards green ammonia and manufacturing, underscoring Ethiopia’s strategy to leverage its renewable energy base for export-oriented industry.

The government attributed the commitments to reforms, including currency liberalisation, the gradual opening of banking and telecom sectors, and the expansion of SEZs linked to regional markets through the African Continental Free Trade Area (AfCFTA).

Deals signed (as compiled by Bloomberg):

• Ming Yang Smart Energy Group Ltd. (SZSE:601615) — $10bn — Green ammonia production and electrical equipment manufacturing
• Global Future Investment Ltd. — $2bn — Manufacturing in Special Economic Zone
• Liaoning Fangda Group Industrial Co. — $500mn — Steel and pharmaceutical manufacturing • Rashmi Group — $235mn — Mining operations
• Gobez Electric Manufacturing Plc — $150mn — Solar-cell production expansion
• Sun King — $150mn — Solar equipment manufacturing (by 2030)
• Quantum Everest — $100mn — Real estate development