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Ethiopian Investment Agency licenses investors with over 16.5 bln birr capital

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11/13/09

  07:47:02 pm, by admin, 179 words  
Categories: Business, Ethiopia

Ethiopian Investment Agency licenses investors with over 16.5 bln birr capital

Ethiopian Investment Agency licenses investors with over 16.5 bln birr capital

Source: WIC

The Ethiopian Investment Agency (EIA) said it has issued license to 443 investors with over 16.9 billion birr combined capital in the first quarter of this budget year.

Agency Corporate Communication Directorate Director, Getahun Negash, told WIC today that the license was given to 443 local and foreign investment projects.

He said agriculture, manufacturing industry, construction, health, education and real-estate were among the investment sectors the investors engaged in.

He indicated that 329 of the investors licensed in the first quarter were foreigners with over 15. 6 billion birr registered capital who came from Asia, Europe, America, and the Middle East.

He said the amount of capital and number of investment projects licensed in the reported period is higher than that of same period last year by 1.6 billion birr and 11.7 per cent, respectively.

According to Getahun, foreign investment flow is increasing from time to time owing to conducive investment policy put in place for foreign investors in the country.

Upon going fully operational, the projects will create jobs to over 15,000 citizens, he noted.

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