Saturday, March 26, 2011

Agency Revokes License of Investors for Failing to Launch Investment Projects

March 26, 2011 (Addis Ababa, ENA)- The Ethiopian Investment Agency has revoked licenses of investors with an aggregate capital of 43 billion Birr for failing to launch their projects, its communication Director said.

Director, Getahun Negash told ENA over the weekend that the agency has cancelled the licenses of the 1,629 investment projects which failed to materialize.

He said the investors who were provided with the licenses since 1984 EC up to March this year had failed to launch their projects, though they were given all the necessary support by the government.

Similar measures will be taken by regional governments on those investors who fail to launch their projects, he said.
Source: ena

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