Investment Commission Secures over 167 Mn Birr Revenue in Quarter

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Addis Ababa November 6/2020 (ENA) Ethiopian Investment Commission disclosed that it has secured 167.1 million Birr revenue from factory shades, developed land, buildings and other services in the first quarter of the Ethiopian budget year. 

Reporting the first quarter performance of the commission to the House of People’s Representatives Trade and Industry Standing Committee today, Commissioner Lelissie Nemi said the revenue surpassed that of same period last year by 56.73 million Birr.

It is, however, 81 percent of the planned 205.8 million Birr.  

One-stop-shop window service centers have been installed in 5 industrial parks, namely the Mekele-based Vogue Industrial Park, Bahir Dar, Debre Birhan, Jimma, and Dire Dawa during the last three months, she added.  

The commissioner further stated that one-stop-shop window service center is critical for ease of doing business alongside realizing regulations and infrastructural development.

Lelissie revealed that most of the industrial parks in the country have been engaged in producing masks and other COVID-19 protective productions in the stated period.  

Due to the various form of support extended to the industrial parks, more than 20,000 citizens have secured jobs in the first quarter of the budget year, the commissioner noted.

Chairperson of Investment Subcommittee of the Trade and Industry Standing Committee, Abdulahi Hamu said promoting  investment opportunities using virtual communication is one of the achievements of the sector during the quarter.

He stressed that supporting local investors to engage in industrial parks could also be taken as an encouraging step.