Council of Ministers approves new draft investment law – Fanabc

Addis Ababa, November 30, 2019 (FBC) – The Council of Ministers this morning approved Ethiopia’s new draft investment law.

According to Abebe Abebayehu, Ethiopian Investment Commissioner, the draft law aims to achieve the following key objectives:

• modernize the investment regulatory and administrative framework,

• align the investment legal regime with recent changes in economic policy priorities,

• consolidate protracted rules and regulations on investment

• consolidate and rationalize the investment incentives regime

• revisit investment areas open to the private sector

• adopt best practices for efficient investment administration/service provision, including One-Stop-Services and

• devise a faster and more transparent investor grievance handling mechanism

The Council referred the draft law to the House of peoples’ Representatives for approval.

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