Investors with over 110 billion Ethiopian birr combined capitals have begun implementing 260 projects in the first nine months of the Ethiopian Fiscal Year, according to the Ethiopian Investment Agency.

Getahun Negash, Corporate Communication Directorate Director with the Agency told Walta Information Center recently that all the projects were licensed in the previous Ethiopian budget year.

The projects currently under construction, implementation and pre-implementation stages have so far created permanent and temporary  job opportunities for about 92,216 individuals.

Although, the number of projects that began implementation is less than that of the same period in the previous fiscal year, the amount of capital has increased by 87 billion birr, Getahun said.

Similarly, some 166 projects with a registered capital of 5.2 billion birr have begun production between July 2012 and March 13, 2013, according to Getahun.

The Ethiopian Investment Agency issued licenses to 611 investment projects worth 40.7 billion birr in the reported period. The projects are expected to create over 47,000 job opportunities.

Source: ENA