Ethiopia: Amhara State Preparing 10-Year Investment Plan

ADDIS ABABA- 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.

More From: Ethiopian Herald

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