An investment license has been issued to 310 investors in Gambella region
The Gambella State Investment Commission said it has issued investment licenses to 310 investors with a registered capital of over 2.9 billion birr in the 2014 Ethiopian budget year. It is said that 290 investors are engaged in the agricultural sector.
More than 26,000 hectares of land has been given to more than 70 licensed investors. Gambella Investment Commission Commissioner, Dr. Low Ubup, told ENA that the investors have obtained investment licenses to engage in agriculture, mining and service sectors.
He said the 2014 fiscal year saw a better investment flow than the previous fiscal year 2013, citing the recent security crisis in the region as a result of the ongoing security crisis and favorable investment opportunities in the region.
He said investors who have received investment licenses in all sectors during the current budget year are expected to create more than 27,850 permanent and temporary jobs.
It is estimated that 50 of the licensees have entered into development work and the rest are in the process.
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