Ethiopia: Amhara State Preparing 10-Year Investment Plan

 Amhara State Investment Bureau is preparing a ten-year investment plan in a bid to create more jobs and facilitate technology transfer in agro-processing, agriculture, and infrastructures as well as power supply, according to the State's Investment Bureau.


Speaking to The Ethiopian Herald the Bureau's Promotion and Communication Director Yihenew Alem, the investment flow to the state is growing year by year as the State is endowed with rich resources and heritages that could give any investor high return.


The bureau is ready to provide all available incentives to the investors and make all the necessary collaboration for the success of their investment, he expressed.


"The state has untapped investment opportunities in the livestock sector in particular in livestock farming, meat processing and animal feed processing," he underlined.


In 2019 more than 14,727 investment projects have been licensed in the State of Amhara with an aggregate capital of over 250.7 billion Birr. These investment projects have been providing employment opportunities for over 2.6 million citizens.


To sustain results and create more conducive investment environment, investment sectors requiring incentives have been identified by the research and made to use the incentives as desired.


In this regard, the regional government is giving special attention for agro-processing and manufacturing industries as well as horticulture, floriculture, and herbs related to agricultural sector development.


To this end, directive No. 24/1998 E.C on industrial village land lease payment, and directive No. 17/2006 E.C on flower, vegetables, and herbs development have been put in place as an instrument of providing incentives for the investors interested to engage in these sectors. Moreover, preparation of a ten-year investments plan is also underway.


More investment flow is coming to Debrebirhan and Kobolcha towns and other urban towns and rural areas because they are endowed with hardworking people, abundant and trainable labor force as well as their strategic location to the ports of Djibouti, Sudan and Eritrea.


The state's fertile and cultivable land, competitive incentive packages, zero tolerance to corruption, and simple and transparent investment procedures and conducive business climate also make it a preferred destination.

Source: All Africa

Comments

Post a Comment

Popular posts from this blog

Suspension of US aid to Ethiopia is yet another example of Trump’s disregard for Africa

Image
America’s Department of State recently suspended   $130 million worth of aid to Ethiopia because of “a lack of progress” on negotiations pertaining to the construction of the Grand Ethiopian Renaissance Dam on the River Nile. According to state department officials, the decision to cut aid came as a result of a direct “ guidance ” from President Donald Trump. Estimates  show that almost half of Ethiopia’s budget is linked to foreign aid. The country depends on  economic assistance  to support its infrastructure projects, health care and education expansion efforts, and security sector reforms. By suspending some aid, the United States has reopened the debate on whether developing countries should depend on foreign aid to realise their economic goals. The decision to suspend aid to Ethiopia comes after  almost 10 years of regional and international efforts  to mediate the dam dispute between Egypt and Ethiopia. Almost  60% of Ethiopians  do not have access to electricity. The renaissanc
Read more

UAE and Ethiopia discuss more avenues to enhance cooperation

Image
  Mohamed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development (ADFD), received at the Fund’s headquarters Suleiman Dedefo, Ambassador of Ethiopia to the UAE. Senior officials from both sides were present at the meeting. The two sides discussed bilateral relations and means of developing them, especially through the Fund’s support to the Ethiopian government to achieve sustainable development goals by financing development and investment projects. Al Suwaidi emphasised the Fund’s commitment to supporting Ethiopia in its developmental efforts, noting that the visit presented an opportunity to discuss issues of common interest. The meeting was part of the continuous coordination, particularly over the Fund’s support to the Ethiopian government to achieve its economic objectives. Dedefo expressed appreciation for the UAE, as well as ADFD, for supporting his country in its effort to achieve sustainable developmental goals and economic priorities. He pointed out that the
Read more

The 9 Most Beautiful Towns and Cities in Africa

Image
The African continent is not only about impressive animals, stunning deserts and beautiful savannahs. It is also home to astonishing cities and towns that are rich in history and culture. Here are our top picks. Cape Town, South Africa Cape Town is a vibrant and colorful city with stunning beaches, beautiful mountains and some of the best vineyards in Africa. Taking the cable car ride to  the top of Table Mountain  at sunrise or sunset to take in the beautiful views is a must. With all the sophistication and activities that can be found in the city, this seaside playground certainly has enough to offer to everyone. Essaouira, Morocco With an ancient medina and lustrous fortifications that date back to the 18th century, miles of stunning beaches, and a charming harbour and fish market to stroll around,  Essaouira is one the most beautiful towns to visit  on the continent. It guarantees moments of peace and tranquility far away from the mayhem of bigger cities and the charmless all
Read more