Addis Fortune (Addis Ababa)

Ethiopia: Investment Agency Licences 395 Projects

The Ethiopian Investment Agency (EIA) licenced 395 investment projects worth more than 24 billion Br during the first six months of the current fiscal year.The number of investment projects licenced during the reported period has increased by 32.6pc compared to the same period in the previous year.

Close to 85pc of the licenced projects are owned by foreign investors while the rest are joint ventures.

In 2011/12 fiscal year the Agency licenced 686 investment projects worth 86 billion Br. Out of these, 601 projects worth 83 billion Br were owned by foreign investors. The number of projects owned by foreign investors showed a decline by 360 compared to that of the previous year while the projects' combined capital increased by 30 billion Br.

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