ADDIS ABABA–Hawassa City recorded 14 new investments with a combined capital of 1.1 billion Birr in the first quarter of this budget year, according to the City Administration’s Investment Expansion Office.
The Office Head Tadasse Fikire told the Ethiopian Press Agency (EPA) that a plan was set to involve over 45 high-level investors in the industry, urban agriculture, and service sectors this fiscal year. The city aims to achieve a total investment capital of 4 billion Birr while creating employment opportunities for over 2,500 citizens.
Within the first quarter, 14 new projects have been licensed and made operational, generating a total capital of 1.1 billion Birr and providing jobs for 1,400 citizens.
In addition to attracting new investments, the city has been addressing issues related to underutilized investment lands. Over 15.7 hectares of such land have been reclaimed and returned to the land bank for redistribution to other potential developers.
Despite these achievements, challenges persist, including delays in credit services and input shortages due to foreign currency limitations. However, Tadasse noted that the government’s macroeconomic reforms have started yielding positive results for the investment climate.
The Head emphasized the importance of creating a conducive environment for investors and highlighted the city’s efforts to ensure peace and stability for those keen to invest. Currently, Hawassa has prepared approximately 103 hectares of well-developed, infrastructure-ready land for investment. This includes 35 hectares allocated for industrial purposes, 55 hectares for urban farming, and the remaining land designated for hotel and tourism development.
Tadasse extended an invitation to investors to explore and engage in the diverse investment opportunities available in Hawassa, underscoring the city’s commitment to fostering a thriving investment environment.
BY BETELHEM BEDLU
The Ethiopian Herald December 12/2024
