27 June 2014

Ethiopia: 40 Billion Birr Projects Licensed in GTP Period

Nearly, 3,000 investment projects with a combined capital of 40.6 billion Birr were licensed during the past four years of the Growth and Transformation Plan period, the Ethiopian Investment Agency said. 805 of the projects have already started production.

According to Getahun Negash, Public Relations Director at the Agency, most of the projects are in the manufacturing sector, while the remaining are in agriculture and services sectors.

Chinese companies are the first in terms of number of projects, with 121 followed by the U.S.A. with 106 licensed projects during the reported period.

Sudanese, Indian, Canadian, Turkish, British and Israeli companies are placed third to eighth in terms of the number of projects.

Chinese companies are also on top in terms of registered capital of 9.8 billion Birr, followed by Turkish companies with 8.5 billion Birr aggregate capital.

Besides the capital flow, the foreign direct investment helped for technology and knowledge transfer, Getahun said.

He said the government has introduced a single window system ending the bureaucratic procedures investors are forced to deal with in various agencies.

Source: Ethiopian News Agency

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