The Oromia Investment and Industry Agency have recently announced the approval of investment licenses for projects totaling over Birr 148 billion. These ventures span various sectors including agriculture, services, and manufacturing, with the aim of creating over 509,000 job opportunities for youths in the region.
The agency is committed to fostering a conducive business environment to encourage further investment. According to Agency Chief Ahmed Indris, both local and foreign investors with substantial capital have been granted licenses, along with access to 35,000 hectares of designated land as approved by the board.
Ahmed underscored Oromia’s abundant resources, including land, water, favorable climatic conditions, and robust infrastructure, which render it an attractive investment destination. He also lauded the region’s skilled workforce, poised to contribute to enhanced productivity across various sectors. The director indicated that the provincial government anticipates an initial revenue of Birr five billion from lease and rental agreements, with projections reaching Birr 43 billion once all investments are fully operational.
Financial backers with endorsed licenses can anticipate that land obtaining should be finished in somewhere around 45 days, permitting development to start in four months or less.
Source: Addis Zemen
