Around 1,193 projects in Amhara State were licensed during the just ended fiscal year. These projects had a combined capital that exceeds 12.5 Billion Birr.

According to the Public Relations Officer at the Amhara Urban Development and Industry Bureau, Zewdu Mognnete, the licenses were given to companies that intend to engage in agriculture, industry, construction, social services, hotel and tourism.

The figures of the last fiscal year exceed performance of the year preceding it by 12 percent, Zewdu noted.

He furthered majority of the investors which took over 520 hectares of land in 11 industrial zones have started construction.

Upon completing these projects, there will be 203,700 permanent and temporary jobs created.

According to Zewdu, Amhara State is building infrastructure at the cost of 100 Million Birr in order to create favorable condition for investors to work in industrial villages.

Out of the total 1,193 license given, there are 103 women investors with a capital of 687.7 Million Birr.

Source: Ethiopian News Agency