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15% of investment projects implement in 15 years

Saturday, 19 July 2008

By Hayal Alemayehu Amongst 31,169 investment projects licensed by the Ethiopian Investment Agency since July 1992 when this was established, only 4481, or slightly above 14 percent, are currently operational, the agency’s latest data obtained by The Reporter revealed. The data showed that 24,948 of the licensed projects, which represent over 80 percent of the total, are still on the pre-implementation basis while 1710 projects representing 0.05 percent of the total figure are on their way to go operational. The data indicates that those projects which already went operational are expected to create job opportunities for over 590,000 people on both temporary and permanent bases. These operational investment projects have registered a total of 40.2 billion birr capital. The majority of these projects are involved in the agricultural sector while manufacturing, construction and real estate venture took a significant portion. Of the total investment projects registered over a period of 15 years since the establishment of the agency to the end of the just-ended financial year, 4591 (14.7 percent ) are foreign investments, according to the data. Although marginal in number, the foreign investment projects constitute over 42 percent of the total investment capital registered both by the local and the foreign projects, the data indicated. The total investment capital registered over the 15-year period stood at slightly over 462.5 billion birr while these projects are expected to create job opportunities for over 4.5 million people. Nonetheless, only 14 percent of these projects are currently operational. During the financial year, some 6,087 investment projects are licensed with a total investment capital of close to 140 million birr, according to the agency’s data.

 

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