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Ethiopia: Somali Regional State Licenses 367 Investors

Somali Region emblem 11

The Somali Regional State Investment and Industry Bureau has made an announcement regarding the licensing of 367 new investors including 37 foreign investors across various sectors, amounting to a significant total investment of over Birr 11.4 billion. This influx of investments is expected to generate 12,243 job opportunities.

The bureau has been actively working towards alleviating challenges faced by investors. They have facilitated the consolidation of diaspora service providers into a centralized center, aiming to streamline operations. Additionally, the bureau has taken measures to assist investors, including the provision of necessary documentation such as birth certificates, as well as effective communication with various executive offices to ensure efficient services. Furthermore, the bureau has revised investment implementation guidelines and regulations to foster a more conducive environment for future investment activities.

The bureau is also actively involved in completing essential infrastructure to facilitate the allocation of industrial sites to investors. Additionally, it is in the process of developing additional industrial villages within the Regional State.

Source: The Ethiopian Herald