Ethiopia grants 915 licences for investment projects

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Flag of Ethiopia

The Ethiopian Investment Agency said it has issued investment licenses to investment projects during the first half of the current fiscal year to be launched in different parts of the nation with an aggregate capital of over 30 billion Birr. Investment promotion and public relations department director with the agency, Aklilu Woldemariam told ENA that the agency granted licenses to 915 investment projects out of which 92.6 percent of the projects belong to foreign nationals. The projects focus on, among others, manufacturing industry, agriculture, catering and tourism, education, health, and other development sectors. The number of projects obtained investment licenses during the reported period exceeded that of the previous year of the same period by 326. Some 152,840 persons will get jobs when all projects go fully operational, he said. The official attributed the success mainly to promotion of investment opportunities and incentives in Ethiopia in connection with the celebration of the new Ethiopian Millennium and efficiency of service delivery.

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