The Hawassa City Administration has confiscated 15.7 hectares of land from 25 investors who failed to develop their projects, according to the city's Investment Promotion Office. The land, which was originally allocated for various investment projects, has been returned to the government's land bank.
The head of the Investment Promotion Office, Ato Abera Lelamo, explained that this action was taken after 25 out of 81 projects were found to have stalled. The investors had not started any work on the land, despite having received support and advisory services from the administration. The move was carried out in accordance with the city's investment guidelines and regulations.
In addition to the reclaimed land, 28 other projects that are underway but have been suspended have been given a final warning. If these projects do not resume work by their set deadline, their land will also be returned to the government. Other projects were brought back into operation after a period of monitoring and warnings. Abera Lelamo also highlighted a newly revised system that places regional land administration and investment under a single institution. This reform is expected to greatly improve the city's ability to expand investment and address previous shortcomings in the sector.
In the past fiscal year, the city had planned to make 103 hectares of land available for investment, and 57 hectares were transferred for new projects. Hawassa is considered an ideal location for both foreign and domestic investment due to its existing infrastructure and peaceful environment. The city was recently re-divided from eight to five sub-cities, which has created additional land resources suitable for investment. While investment is crucial for creating jobs, boosting the economy, and generating foreign exchange, the administration will continue to take corrective measures against investors who do not meet their contractual obligations.
Currently, Hawassa has 895 active investments across 44 different sectors, including agriculture, services, industry, and construction. These projects have already created job opportunities for many residents. The official encouraged other investors to take advantage of the favorable conditions and invest in the city.
Source: Addis Zemen
