Some 2,575 investors receive license in Amhara region in 6 months

Addis Ababa, January 15, 2023 (FBC) – Some 2,575 investors have received investment permits in the Amhara region in the last 6 months of the current fiscal year, according to the Regional Industry and Investment Bureau.

The Head of Public Relations of the Bureau, Yihenew Alem, told Fana Broadcasting Corporate that 2,575 investors who registered a capital of more than 144 billion birr received investment licenses in the last 6 months.

The PR expert said that the licensed firms will create job opportunities for more than 577,000 individuals when they are fully operational.

Yihenew mentioned that most of the enterprises have received permits in development priority sectors; such as manufacturing (steel, woodwork, textile and garments), agro-processing, chemical, and construction sectors.

Besides to the manufacturing sector firms, enterprises in service, mining, tourism, agriculture and floriculture sectors have also obtained investment permit, the official said.

He indicated that although the flow of foreign investment has slowed down, the engagement of local enterprises has increased thanks to the government’s determination to make service provision accessible and fast and to encourage investors.

The regional government is committed to supporting investors more than ever before. Manufacturing sheds, completed infrastructure, and land have been prepared for investors in Bahir Dar and Bure cities, the PR head added.

The official stated that land has also been prepared for investors in other cities of the region. He called on investors to explore the enticing investment opportunities in the region.

Yihenew recalled that 2,782 investors with a capital of 175 billion birr have obtained investment license and created job opportunities for more than 506 thousand citizens in the previous financial year.