Prime Minister Hailemariam Desalegn Gov`t pledges 80pct loan to investors in construction sector

Prime Minister Hailemariam Desalegn has revealed that the government will provide 80 per cent loan for investors engaging in the manufacturing of construction inputs to encourage the sector.

 

Speaking at the closing session of a two-day National Conference on Challenges and Directions of the Construction Sector, the Premier  said if investors engaging in the manufacturing  of construction inputs can cover 20 percent of their expenditures, the rest can be covered by government loan.

Hailemariam said that the government is committed to supporting unions engaging in medium level contracts on machinery inputs.

He noted that apart from providing quality inputs, local firms have huge opportunities to compete in the global market, he pointed out.

Although a proclamation that provided for streamlining the construction sector was promulgated as early as 2010, much has not been done to develop the sector due to lack of the necessary capacity to enforce the law, the Premier said.

He urged all stakeholders to fight corruption and maladministration which he said are among the major challenges in the construction sector.

source arabnews