The Oromia Investment and Industry Bureau announced the approval of investment licenses for ventures totaling over Billion 148 billion. These investments are expected to generate job opportunities for more than 509,000 young people in the region.

The approved ventures span agriculture, service, and manufacturing industries. The bureau is committed to fostering a business-friendly environment to encourage further investment. Bureau Director Ahmed Indris revealed that both local and foreign investors with significant capital received licenses. The licenses also granted access to 35,000 hectares of land as designated by the board.

Ahmed highlighted Oromia's abundant resources, including land, water, a favorable climate, and strong infrastructure, making it an attractive location for investment. He also commended the region's skilled workforce, which is expected to contribute to increased productivity across various sectors. The director indicated that the regional government anticipated an initial revenue of Birr five billion from rent and leasing agreements, with projections reaching Birr 43 billion once all investments are fully operational.

Investors with approved licenses can expect land acquisition to be completed within 45 days, allowing construction to commence within four months.

Source: Addis Zemen