Commission Licenses 224 New Investments

The Ethiopian investment commission announced that it has given 224 new investment licenses in its quarterly report. Among the licenced investments, 202 are foreign direct investments, while the remaining are local. The commission has managed to transfer 4.1 billion Br capital and 49 projects into production and service offerings. The projects create permanent employee opportunities for 183 citizens, and temporary employment opportunities for 829 citizens. Out of 49 projects, 26 are manufacturing industries with a registered capital of 3.8 million Br.

In the first quarter of the fiscal year, the commission has transferred 117 projects, accounting for 13.5 billion Br to the implementation stage, of which the manufacturing sector accounted for 7.7 billion Br.

From projects licensed to operate within the quarter year, there are 26 in the manufacturing sector, 19 in the service sector, and four projects in the agricultural sector. Projects transferred to the implementation stage amount to 36 in the manufacturing sector, 25 in the service sector and seven in agriculture.

Manufacturing projects transferred to the production stage registered 3.8 billion Br, creating job opportunities for 1,829 citizens, with projects transferred to the implementation stage accounting for 7.7 billion Br, creating permanent job opportunities for 156 citizens and temporary job opportunities for 7,970.


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