Ethiopia: 121 Investment Projects Commence Service and Production

The Ethiopian Investment Commission (EIC) has announced that 121 investment projects with capital of about 6.97 billion had started services and production during the first half of the current budget year, according to Walta Information Center.

Mr. Getahun Negash, Public Relations Director with the Commission, stated that the commission had planned to support 102 investment projects that had 10 billion birr capital to begin operational activities in the last six months. Out of a total of 121 investment projects, 11 are engaged in agriculture, 54 in manufacturing and 56 are in the service sectors.

The director added that these investment projects had created 9092 permanent and 2798 short term jobs with the potential to create more job opportunities whenever they would start work with full capacity.

He further added that the commission had planned to support 123 investment projects that had a total of 14 billion birr capital to reach the implementation stage in the first half of the budget year. The Commission was able to support 145 investment projects with the capital of 16 .97 billion birr to reach into the implementation phase in the period, which is beyond its schedule.

The Commission also cancelled investment licenses of 91 foreign investors in the last six months. The measure was taken on investors that are not able to enter into the implementation stage.

This post first appeared HERE

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