Ethiopia's Amhara regional state announced that investors with a combined capital of over 39 billion birr (over $1.34 billion) have obtained licenses over the past 12 months.

Yihnew Alem, head of the regional state’s industry and investment bureau, speaking to Fana BC, said the licenses were issued for 1, 671 investors. Regardless, Mr. Yihenew pointed out, the number of licenses issued greatly surpassed the goal set by the bureau. While the plan was to license 824 licenses for the period indicated, now the figure looms at over double of this.

Investment flow to the region is increasing, the bureau head indicated, and cited Dejen Cement's 8.2 billion birr project and the Bure Edible Oil Factory, which is expected to cover over 60 percent of Ethiopia's demands, to show for it. 

The newly licensed investment projects will create employment opportunities for over 204 thousand workers, Mr. Yihewnew noted.

Source: Fana BC