ADDIS ABABA – North Shewa Zone of the Amhara State said it has given investment licenses for 301 domestic and foreign companies with over 17 billion birr capital in the just-ended fiscal year.
Yonas Getachew, Support and Follow up Expert at North Shewa Zone Industry and Investment Bureau told The Ethiopian Herald out of the 301 companies, 95 have already started their operation and created job opportunities for more than 7800 citizens.
The major investment areas are manufacturing, hotel, and tourism, construction and agriculture. The companies are expected to ease the situation of youth unemployment in the area.
According to Yonas, when all companies go operational, the companies are expected to create over 57,000 new temporary and permanent job opportunities.
The establishment of the power station in the area to solve the power outage, the construction of the Ankober-Djibouti road which will reduce the distance to Djibouti Port by 200 KMs, modern service delivery, peace and stability, and good governance have contributed to the success in attracting more investment.
The project that aims to make North Shewa, particularly its capital Debre Birhan an investment hub has shown encouraging results during the fiscal year, he added.
The Ethiopian Herald, July 18/2011
BY TSEGYAE TILAHUN
