Office conducting study to identify potential investment resources of Harari state

Harar, August 28, 2006 (WIC) - The Harari Investment Office disclosed that it has been undertaking a study to identify the untapped investment resources of the state.

Office head, Abduselam Abdosh told WIC today that the office has been conducting the study since last year with over half a million birr budget earmarked by the regional state.

The head said the study would be instrumental in identifying and promoting potential agricultural wealth of the state.

The study would also help to detect the investment opportunities and suitable investment areas in the state, he said, adding that it is expected to get finalized by next December.

The study has been undertaken by professionals and consultants drawn from the regional Trade and Industry Department, Urban Development, Municipality, Finance and Economic Development Bureau, and Investment Office.

Meanwhile, the Office has issued licenses to 95 investors with an aggregate capital of 163 million birr in the just-ended budget year.

Abdusalam said the projects would create employment opportunities to 852 citizens on going operational.