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The region has vast investment potentials in the fields of agriculture, animal
husbandry, agro-industry, mining and energy, hotel and tourism, construction as
well as social services.
Agriculture
Afar naturally blessed
with favorable agricultural potentials. It has a number rivers including the
Awash river suitable for irrigation. Of the total 2,520,880 hectares of
cultivable land, 308,302 hectares is irrigable while 2,212,578 hectares of land
is rain fed, the sector is favorable to grow cereals, pulses, oilseeds, spices,
fruits and vegetable as well as cotton. Afar is also rich in animal husbandry;
which include camels, goats and sheep, herds and Ostrich, Bees. The regions’s
livestock potential also include 3,620,147 cattle, 2,938,296 goats, 2,004,063
sheep 871,832 Camel, 192,248 Asses and about 110,000 poultry.
Industry
Although it is one of
the least developed Regional States the region has the potential to attract
investors to visit in fertilizer and paper factory, chemical, plastic and
plastic products, soap factory, meal processing and canning, food and beverages,
oil factory, tannery, textile, leather and leather goods, metal and electro
mechanical works, mining and quarrying activities. The region lies at close
proximity to the port of Djibouti and Somalia. It is an added opportunity.
Mining
Adar is also rich in
mineral deposits. Its mineral deposits include gold, manganese, copper, potash,
sulfer, sult, bentonites, geothermal energy and other construction raw material.
Construction
The region has abundant
opportunities of construction services of all types such as, water well drilling
business and construction equipment rentals.
Real Estate:- the
engagement in real estate and prefabricated house building is a wide open
lucrative activity for both domestic and foreign.
Social Service:-The
region has a wider opportunity in areas of education. The government highly
encourages and supports the investment in education.
The opportunity includes
the establishment of kindergarten, Nursery, primary and Higher learning schools,
Technical and Vocational secondary schools and Colleges. To meet the region’s
dire demand for skilled work force, investors have wide open investment
opportunities in this sectors.
Tourism
The Region highly
cherished with two national parks, four wildlife conservation areas, about 86
mammals, 392 bird species, 21 lakes and spas having temperatures ranging from
80c to 96c. Afar is also cradle of human kind and of rare history, having human
remains aging some 3.5 to 4.4 million years of age (Lucy and Ramidus). Tourism
could be a possible area of investment in the area.
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