Liyat FekadeAddis Abeba, September 04/2018 – A landmark decision by the Ethiopian investment board has reversed a major regulation that restricts foreign investors from engaging in parts of Ethiopia’s Investment Incentives and Investment Areas reserved for domestic investors by lifting the restriction on logistic industry which was exclusively reserved for Ethiopian nationals. The Logistics sector matters in several critical ways: as a supporting industry to the manufacturing sector, to improve investment attraction/retention and for increasing the country’s international trade performance by enhancing export competitiveness. 313-2014 of the Council of Ministers has provided for the establishment of the Ethiopian Investment Board and the Ethiopian Investment Commission, “two public institutions which have respective mandates, powers and duties with regard to investment. Speaking to Addis Standard, Betachew Mekuria, Commissioner of the Ethiopian Investment Commission, said, the commission has been working on this for a long time. In doing so one key consideration has been the promotion of joint venture investments between international players and their Ethiopian counterparts, the former holding minority stake participation.

Source: Ethiopian News September 04, 2018 09:57 UTC