Over 110 bln birr project under implementation

Addis Ababa, May 16 (WIC) –Investors with over 110 billion birr combined capitals have begun implementing 260 projects in the first nine months of this Ethiopian budget year, according to the Ethiopian Investment Agency.

Agency Corporate Communication Directorate Director, Getahun Negash, told WIC recently that all the projects were licensed prior to this Ethiopian budget year.

The projects that are currently at construction, implementation and pre-implementation stages have so far created permanent and casual job opportunities for about 92,216 compatriots.

Though the number of projects that began implementation is less than that of the same period last budget year, the amount of capital increased by 87 billion birr, he said.

Similarly, some 166 projects with a registered capital of 5.2 billion birr have begun production between July 2012 and March 13, 2013, according to Getahun.

The investment projects have created permanent jobs for 5,139 citizens, he said.

The Ethiopian Investment Agency issued licenses to 611 investment projects worth 40.7 billion birr in the reported period. The projects are expected to create job opportunities for over 47,000 compatriots.
Source: Walta Information Center