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EIC reforming investment law to raise foreign investors, private sector role

BY MENGISTEAB TESHOME

ADDIS ABABA– Ethiopian Investment Commission (EIC) says it is finalizing Ethiopia’s Investment Opportunities and Investment Law Reform in a bid to enhance foreign investors and private sector’s engagement as well as to increase Foreign Direct Investment (FDI) inflow.

While conferring with International Development Partners on Friday Ethiopian Investment Commissioner Lelise Neme said that Ethiopia is keen to work with development partners in a more broader and productive fashion.

To this end the Commission is reforming the investment law that lets the local and foreign investors to get more access to reliable services and open more sectors to the private sector.

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According to her, the international Development Partners engagement was great in shaping the new investment law, we will keep our collaboration with all pertinent stakeholders and make sure we have a healthy investment climate.

The Commission also noted that areas of investment reserved for joint investment with government and domestic investors’ as well as joint investment with domestic investors are well identified in the reform letting them engage in more broader and efficient way than before.

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Ethiopian Investment Board is working with all pertinent stakeholders to address queries at early stages, she noted.

She added that the commission continues its Stakeholders Engagement Workshop series. EIC also is working in consultation with Development Partners, around the implementation of Investment Law and Doing Business reforms and improving the investment climate.

Development Director, Foreign Commonwealth and Development Office (FCDO) Dr. Christian Rogg for his part the new investment reform is timely and believes it could help in ensuring the country’s investment efficiency.

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Ethiopian Investment Commission Legal Advisor Dr. Tadesse Kassa for his part said the reform is a more progressive one and well developed to facilitate broader engagement of foreign investors and private sectors in a number of sectors that had not been in the list.

The Ethiopian Herald December 6/2020

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