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| Determinants of Investment activities in case of AKESTA Town |
Derese simegnew Alehegn
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Abstract:
Globally poverty constitutes the deepest and most dangerous in the world economy. The elimination of this worst economy requires sustained economic growth and development in the poorest area of the world. The right condition should be created to encourage the private owners of capital, to invest in the area where such macro conditions exist especially the poor countries found in Sub-Saharan country (for tune vol 5, No 193 Dec, 11, 2005). Investment promotion agencies need a careful and detailed approach that addresses the specific circumstances of the country, such as geography, targeted sectors, sectors development, lower labor cost, quality of mineral deposits, the access to international markets, reliable power, local supply of qualified human power and low cost of communication (world Investment prospects special edition No 78). On other hand Ethiopia is a country found in Sub-Saharan and ranked 9th in terms geographical area in terms African continent. Ethiopia is known with ancient civilization, historical culture, a proud of tradition and on the top of all a land with immense potential for economic development of a country. The country is rich in natural and human resources. The climate and fertile soil are suitable for the cultivation of wide ranges of crops and live stocks. But this land of plenty is also suffering from poverty, lack of infrastructure, under development health center and fundamental ills of the economy system and reacts up on to keep the country under development (CSA 2008, Tessykurian 2004). Amhara is the second largest regional state in Ethiopia, which almost reflects the real situation of economical and political issue of next to the country next to Amhara state. The region has abundant natural and human resources. It is the habitat of various species of endemic wild life, birds, forest and location of best kept secret of tourism sites. It is natural resources such as mineral, forests, water, energy and diversities climatic conditions, geographical areas of the region hold the interest of investors. Despites of these opportunities investment activates in the region are far from being sufficient. (AMHARA investment commission, April 2008). So this title was focused on determinants of investment activates in AKESTA Town, .Legambo is one of woredas in Amhara region which is found specifically in south wollo zone.Akesta town found in legambo woreda at the western part of the zone far from 100KM Dessie. Now the total population for Akesta reaches 165000 of whom 79000 were men and 86000 were women.(csa 2005,phsical and social economic profile district of amhara region , 2010). So the researcher was investigated the major variables determining investment activities in the town and examined how this factors affecting investment.
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