The Addis Ababa Investment Commission (AAIC) announced that 612 investors registered a combined capital of Birr 2.93 billion in the first quarter of the fiscal year, reflecting a 13% growth compared to the same period last year.
AAIC’s Director of Communication, Mrs. Meseret Woldemariam, highlighted the strong performance, noting that the majority of the newly licensed investors are engaged in the service and manufacturing sectors. The service sector encompasses industries such as hotels, tourism, and information technology, while the manufacturing sector includes electrical products, steel, wood, and textiles.
The investments have generated 8,707 jobs, including 770 permanent and 490 temporary positions created by newly licensed investors. The commission has initiated field monitoring to ensure new investors commence operations promptly, with any challenges identified during the process addressed immediately.
Mrs. Meseret acknowledged persistent issues raised by investors, such as foreign currency shortages and workplace availability. However, she noted improvements due to recent macroeconomic reforms, with foreign currency access gradually improving. For workplace concerns, the commission is collaborating with the Mayor’s office to provide professional support on rental solutions and operational methods.
Source: Addis Zemen
