Addis Ababa April 20, 2017 A consultative workshop with the view to boosting investment in Oromia Regional State, identifying problems and seeking solutions was held with domestic investors engaged in the region today.
During the discussion, Chief Administrator of Oromia, Lemma Megersa said his government is committed to take strong measures to tackle the challenges domestic investors encounter at various levels.
He said the government will strive to ensure that clean and lean bureaucracy prevails in the state to encourage domestic investors.
The regional government would gradually fulfill infrastructural requests of investors, he added.
Chief Administrator Lemma revealed that some investors who took lands for investment and enclosed them for as long as 10 years will be confiscated and the lands given to investors that can develop them.
He further disclosed that only 46 percent of the over 10,000 big investors licensed in the region have become operational. As a result, the government has started taking measures against them.
The Chief Administrator noted that Oromia has huge potential in agro-processing, tourism, minerals, renewable energy, raw material for manufacturing.
Presenting a research on "Domestic and Foreign Direct Investment in Oromia", Abiy Ahmed, Bureau Head of Oromia Urban Development and Housing with the Rank of Deputy Chief Administrator, said the region has favorable environment for living, doing business and tourism.
He added that the region has also huge potential of agricultural resource base that may feed more than 300 million people.
Ethiopian Investment Commissioner Fitsum Arega said the commission will work in collaboration with the regional government to solve the problems investors face in the state.
According to the commissioner, domestic investors have a responsibility to develop the country, and the government to encourage quality foreign investors.
The commissioner urged investors to take into account social responsibility, environmental protection and labor conditions.