Amhara Region Investment Bureau revoked investment licenses of 23 investors who have not developed the land they acquired from the Region in 2001. This measure was taken over the last nine months to avail land for incoming potential investors, said Bureau Investment Department Head, Emir Tahir. He said the measure was taken to avail land for incoming potential investors. In the Region, over five years, 915 investors who took licences to develop projects which are in operation on 220,000ha of land.
However, the Bureau took that measure against developers engaged in smallholder farming using traditional ploughing techniques, Emir said. Despite repeated warnings, they had failed to undertake projects in keeping with agreed terms. The Bureau was therefore obliged to snatch 2,450ha of land they had acquired by leasehold.
“Investors took a licence to invest in lucrative investment areas including crop production, harvesting of improved seeds, animal fattening and fruits and vegetable production,” the department head reported, adding that the Bureau is working to recover 3,600ha of land seized illegally.
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