Sudanese investor obtains investment licenses form Ethiopia

By Tesfa-alem Tekle

October30, 2007(ADDIS ABABA) –The Ethiopian investment authority said, a Sudanese investor has taken license at an investment capital of 150 million Ethiopian birr.

The Sudanese investor, Osman Mohamed Mahmoud has took 4 licenses to invest on cement, cooking oil and packing materials.

The investor said he is on investment study to further engage him self on petroleum and petroleum product in the neighboring Ethiopia.

A number of foreign investors agree that the better ground, the Ethiopian government created for foreign investors; has come to attract them to invest in Ethiopia increasingly.

Extended time table of fax payment on imported goods, free interest bank loans and leased lands for foreign investors, are some of the many incentives Ethiopian government is providing for foreign investors flooding to the horn nation.

Including state-run Nile Petroleum Company, the total investment projects under Sudanese investors in Ethiopia have topped 60.

(ST)