In the past nine months, the Southern Nations Nationalities and Peoples’ Regional State Investment and Industrial Development Office has granted 291 new investment licenses for various projects. Of these, 120 are in agriculture, 89 in service, and 82 in industry.

The total registered capital for these sectors has exceeded Birr 12.8 billion. Halgio Jilo, the Head of the office, also stated that 25 diasporas who have invested more than Birr 2.2 billion will be granted over 1 thousand 853 hectares of land.

The office has registered 345 new investment files, and over 2600 hectares of land have been prepared for rural investment. However, the official also mentioned that action has been taken against 52 projects that failed to meet the contractual obligations.

Source: Fana BC