Oromia Region Working To Attract More Investors in Coming Ethiopian Budget Year


May 28/2022/ENA/ Oromia region is working to attract more investors in various fields of investment in the coming budget year, according to the regional Investment and Industry Bureau.

Oromia Investment and Industry Bureau Deputy Head, Lata Abeba said the region is attractive and profitable for investors in diverse sub-sectors, including agro-processing, horticulture, textile and garment, hotel and tourism, among others.

According to him, there are huge number of investment projects in the region and the bureau is working to maintain this momentum.

Lata noted that investors want the best service possible and the bureau is working hard to provide efficient services in a short period of time.

“We do most of our services online. Any investor can get the services they want from anywhere. We have moved into a modern operating system. We have hosted over 600 projects in the past one and a half months alone... Before that the figure was probably 40 and 50 a month, when they came in person. So this is good for investor as well.”

The deputy head added that efforts are being made to also provide efficient services at woreda, town and zone level.

So far, there are about 21,000 projects all over Oromia out of which 1,200 investors with over five billion birr registered capital have started using the online service.

Asked about the instability in the region, he said the majority of the people want peace and development. So it is possible to restore peace as the communities are becoming aware of the benefits of the investment projects  and taking good care of them.

Oromia Land Administration Bureau Deputy Head, Gemechis Temesgen said the region has conducted a land use study which is completed and nearing implementation.

“Our plan for 2015 Ethiopian budget year is to integrate services other than land claim and tax-free incentives into the system and make it easier for investors to use that.”

The study has identified the extent to which land is available for agriculture, forestry, eco-tourism, and so on.

“In this regard, we have made many improvements in line with the direction we now need to improve our services. When an investor submits his or her own condition to a land claim, we transfer the land on a standard basis.”

In the coming Ethiopian budget year, the bureau has prepared a special plan that provides land for investors in a different way.

Ethiopian News Agency