Bureau licenses 3.8 bln birr investment project

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Addis Ababa, December 13 (WIC) - The Oromia State Investment Bureau said it has issued licenses to 96 investors with 3.8 billion birr registered capital during the past five years.

Bureau Government Communication Communicator, Mekonnen Fuffa, told WIC the investors were licensed to engage in agriculture, agro industry, manufacturing and service sectors.

The licenses were issued based on government’s priority area, number of jobs they create and their contribution towards import substitution efforts of the country.

The investors have already taken a total of 2,463 hectares of land and the projects by the investors are expected to create 20,967 jobs when completed, he said.

According to Mekonnen, the number of projects and their cumulative capital registered in the reported period more than doubled compared to same period the previous year.

He attributed the success to the new system which the bureau implements and efficient services provided by pertinent bodies at all levels.