Industry Leads Investment Projects That Went Operational In 1st Quarter

Ethiopia’s industry sector leads the way with 28 new projects going operational during the first three months of the budget year, data from the Ethiopian Investment Agency (EIA) revealed.
Some 28 new investment ventures in the industry sector with a combined capital of over two billion birr went operational in the first quarter.

Manufacturing industry took up the lions share with 20 companies registering an investment capital of a little over two billion birr began operation this budget year.

The service sector follows with 15 new investment projects going operational while one agricultural investment in oilseeds and food crops development starting operations during the budget year.

However, a total of 82 investment projects in all three sectors have reached project implementation phase during the first quarter.

During the first three months of the budget year, the Ethiopian Investment Agency issued investment license to 244 new projects out of which 123 are in the industry sector and 43 in hotel and tourism sector.

Some 127 investment projects (over 56 percent) are registered in Addis Ababa while the Oromia Investment Bureau issuing investment license to 75 new projects (over 33 percent).
Source: Walta Information Center (WIC)