Ethiopia: Bureau Issues 4,542 Investment Licenses – –

by Zelalem

The Addis Ababa City Government Industry Development Bureau said that it has given investment license to 4,542 local and diaspora investors.

At a half-day discussion with concerned sector offices, investors and public wing to review last year performance and discuss this budget year plan, Bureau Research, Planning and Budget Support Process Leader Tesfaye Chaka said the liscense was given to investors engaged in ICT, manufacturing, textile, leather and leather products, chemicals, service, and agro-processing.

He said that investment incentive to attract more local and foreign investors in infrastructural development such as roads, energy supply and water access have been installed in the industry zones in Addis.

Investor Abdulhadi Ali from Akaki Kality Industry Zone appreciated the efforts of the Bureau in supporting the enterprises. He said that the industrialization journey could be realized through active participation of the investors and all Ethiopians.

He cited bureaucratic problem of power expansion by electric authorities and the problems of quality of roads as bottlenecks urging the bureau to fight selfish officials at service delivery within and sectoral offices.

Another investor Abinet Habtemariam, who is also City Investors Forum Chairperson, said though the Bureau was established a year ago, it has been providing support to investors.

However, he said, there are still many issues such as lack of accountability of officials in all sectors and market linkage as well as shortage of foreign currency and delay that need to be addressed urgently.

Responding to question raised, Bureau Head Jemal Redi said to address the problem of power supply the Bureau has recently paid 13 million Birr to the concerned organ. Regarding foreign currency, he said that the Development Bank of Ethiopia has special package to assist the industry sector, if all the requirements are fulfilled.

He said his Bureau is highly committed to work closely with investors and address their complaints.

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