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The Ethiopian News Agency
03 June, 2007
Addis Ababa, June 2, 2007 (Addis Ababa) - Coming back home from the US where he had lived for 27 years, Gashaw Abdela Tahir, in partnerships with collegues, has launched activities to realize real estate development and services in the city of Bahir Dar - a more than half-a-billion Birr investments for which he has already received license.
The investor has also received a 400,000 sq.mt of land on the denuded hillsides of Dangila in Gojjam, Amhara State, on which to implement a forest development project.
Gashaw told Ethiopian News Agency that his home investment initiative came following the call the Ethiopian Government had made for the diasporic Ethiopians to look homeward with investments and support package provided to facilitate ways for their involvement in national development.
The investor received 350,000 hectares of land to launch his real-estate development and 14,500 hectares other service delivery institutions in the beautiful lakeside city of Bahir Dar, capital of the Amhara State, in partnership with a US-based Ethiopian owned construction company.
Himself a general construction contractor by profession, Gashaw is panning to replenish the Dangila hillsides by planting more than 565,000 tree seedlings on 20,000 hectare.
Transplantation of the seedlings would begin in a period of two weeks now for which he had attracted AIDS orphans and other fellow natives to involve in the planting and other activities. In addition to helping replenish the environment, he said, his project will create jobs to nearly 300 people.
The investor said he has set plans to launch development of bamboo tree, a plant used for numerous purposes.
The investor said he was happy to see the ongoing development activities in Ethiopia.
He appreciated the regional state government for the necessary assistance. "The simplified bureaucracy and government incentives attract other Ethiopians, as most of them are keen to invest in their country."