The North Shoa Zone in Ethiopia has seen a significant increase in investment in the past year. The zone initially planned to register investments totaling Birr 25 billion, but it ended up receiving investment registrations amounting to over Birr 42 billion. This is a 72% increase over the original target.

The zone has issued investment licenses to around 464 investors, surpassing its target of 368 investors by over 100 percent. These investors are involved in various sectors such as manufacturing, agriculture, tourism, services, trade, and machine rental. Their registered capital of over Birr 42 billion has resulted in the creation of job opportunities for approximately 126,720 citizens.

Out of the licensed investors, 29 have already commenced their operations and are providing products and services. While there are foreign investors, the majority of the investments have come from local individuals and businesses.

The North Shoa Zone is considered a favorable investment destination in the Amhara state, particularly due to its proximity to the port of Djibouti. It has attracted a significant number of investors as a result. The zone's primary focus is on import substitution and export promotion activities to generate more foreign exchange. Furthermore, the zone has made concerted efforts to address infrastructure challenges by working closely with stakeholders and investors to overcome these obstacles.

Source: Addis Zemen