Investment Law Being Amended to Encourage Private Sector, Enhance Business Climate

Addis Ababa There have been many amendments to the Ethiopian investment law in order to encourage the private sector and enhance the investment climate, according to Ethiopian Investment Commission.

Speaking at the Ethio-Investment Exhibition and Forum held today, Ethiopian Investment Deputy Commissioner Temesgen Tilaye said the commission has reviewed and amended it so as to enhance the investment and business environment of the country.

The government has been working to transfer the government-led investment and business activities to private-led investment and business activities, he added.

Aiming at strengthening private investment and business, the Ethiopian Investment Commission has removed the bottlenecks in the previous investment laws of the country, the deputy commissioner stated.

It improved eight articles on investment licensing, finance provision, logistic supply and the like, he revealed.

In the medium and long run, Ethiopian Investment Commission is making preparations to begin online service for investors, Temesgen pointed out.

The one-day forum was held to create awareness among investors and show the alternative investment in the country.

The more than 100 participants included the Ethiopian diaspora and local investors.

Source: Ethiopian News Agency