4.1 Urban Economy and Role of the Town

The town serves as trade, tourism and administration center. Commercial Bank of Ethiopia and Dedebit microfinance are the major financial institutions in the town. The major sources of revenue were property taxes. The major investment opportunities in the town are:- high ground water potential, irrigation ,animal husbandry, fishery in lake Hashenge, horticulture and tourism. Korem has economic linkages with the surrounding areas, towns, region and Addis Ababa. The town gets grain products, livestock supply, natural resources (fuel wood, charcoal), construction materials and labor from surrounding areas. The town gets agricultural inputs, manufacturing and commercial products from Mekele and Adigrat.

4.2 Social and Municipal Services

Social services

Education

There are two private kindergartens; five government primary schools; one high school including preparatory and one government TVET in Korem town.