Capital Ethiopia Newspaper

Agency gives license to 457 projects

The Ethiopian Investment Agency (EIA) said that it has given investment licenses for 457 projects with a registered capital of 64 billion birr during the last nine months. The projects are expected to create job opportunities for about 31,000 people. In an exclusive interview with The Ethiopian Herald recently, Agency senior Public Relations Expert, Debela Habte said that compared to the previous year the figure has decreased both in capital and number of projects. He attributed this to the new preconditions set by the Agency and the strict follow-up and control in verifying the real potential of investors through embassies. Foreigners account for 392 projects, (86 percent) with a total registered capital, of 61.3 billion birr (95 percent), he said. The major investment sectors preferred by the investors are industry, agriculture and construction, he added. Investment licenses are given all nine states as well as two city administrations. In this regard, the Addis Ababa, Oromia, Amhara and Southern Nations, Nationalities and People’s states have attracted a large number of investors respectively, Debela said.
(The Ethiopian Herald)