Ethiopian Investment Commission to open weaponry manufacturing for the private sector

Ethiopian Investment Commission _
Photo : from Twitter page of Sam Rosmarin

borkena
July 9, 2019

Draft bill prepared to amend investment law in Ethiopia makes weapons, ammunition and explosives production open for the public, according to a report by Addis Fortune which was published on July 6, 2019.

The draft bill also opens air transport, postal service, and electric power distribution sectors open for the public.

Based on Addis Fortune report, investors interested in the above-mentioned sectors will have to do it on the basis of a joint venture with the government of Ethiopia.

It is the Ethiopian Investment Commission and a technical team that is drafting the legislation. The Technical Team is composed of 17 members, experts, drawn from Addis Ababa University, the government of Ethiopia and the private sector, according to Addis Fortune.

The Team is consulting to investment laws of about twenty-five countries from Africa, Asia, and Latin America, among others.

Revision of the investment law has been underway since January of this year.

The Bill is anticipated to be legislated in the parliament in the upcoming Ethiopian fiscal year, according to Commissioner of the Ethiopian Investment Commission, Abebe Ababayehu, as reported by Addis Fortune.

Fantu Farris, co-chair of the technical team is quoted as saying, “The initiative to amend the law also shows the country’s initiative in opening up the investment climate for the private sector.”Last year, Ethiopia managed to attract $US 3.3 billion in Foreign Direct Investment (FDI), said the report by Addis Fortune.

In May of this year, the Ethiopian Investment Commission (EIC) announced an online service platform for investors which means that investors can now apply for and/or renew their investment licences online. 



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4 Responses to "Ethiopian Investment Commission to open weaponry manufacturing for the private sector"

  1. Sofoniyas   July 9, 2019 at 11:01 pm

    Yeh right.

    The EPRDF Ethiopian government is known for confiscating private businesses.

    Reply
  2. Tafere   July 10, 2019 at 5:56 am

    developpment ??? remarkable spike in private sector for developping country like ethiopia .

    Good progress

    habesha temenja endemobayil mekisi yemizibet gize simeta mayet berasu metadel new enkan bezemenechin bay nachin lemayet abeken mejemeriya be hariajim bihone ene megzat alabign

    when they start selling publicly , please send me sms

    Tafere.sheger@gmail.com

    Reply
  3. Wintana   July 10, 2019 at 6:25 am

    Throughout history Sidama people farmed Coffee in Sidama hoping our coffee gets sold and bring development to all of Ethiopia in the process generating income for our Sidama coffee farmers. But now we are having problem in generating income for our farmers because our coffee is being robbed by Federal and regional governments backed bandits. Currently our coffee is being stolen by people from the ethnicity the Federal government of Ethiopia encourages to go in a crime spree, thus bringing bankruptcy to Sidama farmers and Sidama coffee traders.

    The coffee we cultivated all year long is being stolen in Ethiopia while on its way to be sold at the international market, leaving us no other choice but to immediately create our own region with our own security apparatus guarding our coffee all the way from the farm to the market , the only feasible way we are choosing to recover from the bankruptcy we are in.

    Reply
  4. Ahhfederalism   July 11, 2019 at 6:23 pm

    Please stop commenting on a subject just for the sake of showing you know a couple of English words and can put together an English sentence and paragraph with whatever liimited vocabulary you have.In other words,try familiarizeing yourself with the subject matter before spreading nothing but hate-mongering….All you morons

    Long live H.E.P.M.DR.ABYI AHMED!!!
    Long live H.E. SECRETARY OF DEFENCE THE HONORABLE MINISTER OBBO LEMMA MEGERSA!!!
    LONG LIVE ETHIOPIA!!!

    Reply

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