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UES ETHIOPIAN ea fick) INVESTMENT
    IL THE OPERATING ENVIROMENT. 4 Political Environment Economic Environment “Trade and Investment Infrastructure Financial Services Taxation Human Resource Market IL, AREAS OF OPPORTUNITY v Agriculture 6 ‘Manufacturing 23 “Tourism 4 Mining 2 Hydropower 25 Social Services| 26 IV. THE LEGAL FRAMEWORK 28 Legal and Judicial System 28 Institutional Framework 29 Investment Incentives 31 Export Incentives 2 Remittance of Capital 2 APPENDICES [Restrictions I Investment Arcas Open for Foreign Investors LIL Ateas of Investment eligible for exemption of customs duty IV. Areas of Investment eligible for exemption of income tax Bilateral investment Treaties Tips for foreign investors VIL Client charter of ELA VIL. Source of further information a. Introducing Ethiopia Official name Political system Head of state Head of G vernment Capital City Location Area Arable land Irrigated land inste Federal Democratic Republic of Ethiopia (FDRE) Federal with mult-party system President: Dr; Mulatu'Teshome Prime Minister: Hailemariam Dessalegn Addis Ababa; which is also the seat of the Afri an Union (AU) and United Nations Economic ‘Commission for Africa (ECA), among others, "iopia is located atthe northeasteen pat of AF- rca extending 30 to 150 north ofthe equator and 330 to a80 cast ofthe Greemvich Meridian Ethiopia enjoys a unique location at crossroads between Africa, the Middle East and Asia 1.14 milion squate kilometers, 513,000 square Kilometers (45%) 34,200 square kilometers (3%) “There are two major seasons encompassing dry and wet seasons. The dry season prevails from ‘October through May. The wet season runs from June to September. Much of Fthiopia has a sur pesugy emperate inate Aten andar cas of it elevation, Ethiopia has an elevated central plateay varying in helght from 2,000 to 3,000 meters above sea, level, In the North and centre of the country, ‘there are some 25 mountains whose peaks Te ‘over 4,000 meters. “The most famous Ethiopian river isthe Blue Nile for Abbay, which flows a distance of 1,450 kilo- ‘meters fom its source to join the White Nile at Khartoum, Population Population Density GDP Per Capital Religion Language Calendar Working hours Administrative division, “Main cities! towns Currency (Over 848 million (2012/13) 74.4 per sq.km (2012/13) US 550 (2012113) ajo sli 5 age Chstanity and Islam, But there are a numberof traditional rel ons as well. One prominent feature of Ethiopia Js eligi tolerance that exists among different religious groups. ihiopia is a multi-ethnic state with a grat v of languages spoken; out of which 83 have over 20 salts. Amharic is the working language of the Federal Government, Oromffaand Tigrigna are cather major languages widely spoken inthe coun- try, English isa medium of instruction in junior and secondary schools, and higher educational institu- tions; and widely spoken, particularly, in business Ethiopia uses the lian calendar which divides the year thio 12 moeuls of 30 days each, The remain five or six days in a leap year, constitute the short [ath month known as -Pagume’ The calendars seven years behind the Western or Gregorian Cal endas wit the Ethiopian New Year falling on 11th ‘of September. Ethiopia isin the GMT+3 time zones. The govern- ‘ment office hours are 8:30am - 12:30 pmand 1:30 [pm 5:30/pm from Monday through Thursday: and 5830 am to 11:30 and 1:30 panto 530 pm on Fri days, ‘There ae nin eloal stats, and sw cy adi ‘rains Incleing Als Ababa the cour. ‘Adais Ababa Harar ‘Adama Hlawassa Bahir Dar Jima’ Dessie ekele Gondar Dire Dawa “The currency of Ethiopia is based on the decimal system. The units of currency are the Birr and cents. “The Birr is divided into 100 cents II - The Operating Enviroment + Ethiopia is considered as one of the most stable countries in Alias + The Constitution of the country, ‘dopted in 1995, provides fora nuli-party politial sytem, + Elections are held by universal Adult suffrage every five years ‘The FDRE has a parliamentari an form of government with a bicameral parliament which com prises the House of the Peoples’ Representatives (HPR) and the House of the Federation (HF). The Hons of the Peoples’ Repre- sentatives isthe highest authority ‘of the Federal Government. thopian Investment Gui 2014 + Power of government is assumed. by the politcal party ora coalition ‘of political parties that constitutes, a majority in the House ofthe Peo ples’ Representatives (HPR); + Executive power fs vested in the Prime Minister, elected from among the members of the HPR. for five-year term: + Ethiopia may well be considered asa country with the lowest levels ‘of crime and corruption among Teast developed count 2 — Economic Environment The Ethiopian government has formulated. Ethiopias economy’ is based on_agricul- the five year Growth and Transformation ture, which accounts, n 2012/13, for about Plan (GTP) to carry forward the import- 42.9 percent ofthe gross domestic prod- nt cratic slirechone in maintaining 2 ct (GDP), Of percent of foreign enerency fast growing economy in all sectors. Ac- earnings, and 85% of employment. Gen cordingly, Ethiopia economy is projected erally the overall economic growth of the to grow at an average rate of 11.2 percent country has been highly associated with sally. the performance of the agriculture sector. Coffse is a critical com- modity to. the Ethiopian economy. It earned USS 745.1 milion in exports in 2012/13, Other important export products (2012/13) include gold (USS5844 million), "oll seeds (USS437.1- milion), chat (U8270.6millions), low: fers (USS1970_ million), polses (USS232.5 million), live animals (USS160 1 Hon), leather and Leal produets (U88120.6 mil- lion), meat ane meat prod- ucts (USS74.1 milion), Enormous efforts have been made in ma- fruits and vegetables(USS43.7 milion), jor key sectors to achieve the Millenni- lum Development Goals (MDGs). As a The industrial sector, which mainly com result, the Ethiopian economy witnessed prises small and mediam enterprise, ac sostainable double digit and broad-based Counts for about 12.4 percent of GDP in ‘growth. In 2012/13, ral GDP greq by 9.7 2012/13. Similarly the service sector com: percent, moderately higher than the previ- prised of social services, trade, hotels and ‘us year In the first three years of Growth restaurants, finance, real estate, etc. ac- and Transformation Plan (GTP) imple- counts for about 45.2 percent of GDP in ‘mentation, the GDP had groven on aver- the same year age by abut 10 percent per annum. This achievement is slightly lower than the 11.1 percent annual average growl rate target Set forthe fist two years of the GTP pe: riod and the 11.2 pereent annual av growth rate target st for the entire GTP; Period, This marginal difference can, how ever be compensated in the remaining wo years of GTP period through accelerated ‘growths ofthe agricultural and industrial Ethiopian Investment i: ert thn an 4 During 2010/11, 2011/12 and 2012/13 the gener al annual inflation was 18, 337 and 135 per cents respectively. It was predominantly duc to the hike in price of food items. At the end of 2012/13, the average margin al exchange rate in the inter-bank foreign ex: change market was Bier 193 to USS 1 as com pared to Bitr 1799 to USS 1 in 2012/13. 4. Trade and Investment 1 Trade In order to enhance the export sector, the Government has established the Ethio- pia Commodity Exchange (ECX). ECX 5 a marketplace where buyers and sellers, come together to trade, assured of quali ty, delivery and payment. ECX assures all commodity matket players the security they need in the market through provid Jing a secure and reliable end-to-end sys- tem for handling, grading, and. storing commodities, matching offers and bids for commodity transactions, and a risk: free payment and goods delivery system to setile transactions, while serving all ally and efficiently: Ethiopian lavestmeat Guide 2014 During 2012/13, total export earnings amounted USS 3.1 billion. The coffeedom- {nated export sector oF the country has ex hibited high price variations from season. toseason, These variations area combined effect of the factors alecting domestic sup. ply and the periodic trends ofthe global Coffee demand and supply situations. Also, the variation can be seen between differ ent varieties and. grades of coffee. Some varieties like the Yeirgacheffe and Sidama Cotninnd considerable premise International market. Export receipts were 1$8745.1 million in 2012/13. ‘re 2 Vane omar ep tems n 201 mon) s$tuaneans Source: MoFED, Anal Report 201/12 1.2. Foreign Direct Invertment ‘tisan undeniable fact that Eth opia has made a considerable progres in economic and social evelopment since 1992 asa re- sult of the implementation of favorable policies and strategies that are instrumental in improv- ing the national economy. The Rural Development Policy and Strategy the Industrial Develop ‘ment Strategy, and other sectoral polices and strategies have init: ated a new push towards creating frameworks conducive for eo: ‘nomic and socal development “The Rural Development Pal oy and Strategy, which is under implementation, undetines that agricalureled development vl bring about fst econom ie growth, enable its people be come beneficiary of economic growth, an ly solid foundation for instal development. ‘The Industrial Development Strategy focuses on export man: tfacturing with prority given to textile and garments, eather and leather products, agro-process ing, and small and micro-enter testile and garments, leather and leather products, agro-processing, and small and micro-enterprises Due to the investment friendly environment creat- ‘din the country, the inflow of foreign direct invest- ment (FDI) has heen increasing over the last twenty ‘one years, Accordingly out of the total investment projcetsleensed between 192-2012, [DY share i bout 15,80 percent, However, the overall trend of investment sn 2012 both the total number of pro} ‘ects and capital invested have shown sight increase. Ethiopia remains an untapped and unexploited market for investors. China, India, Sudan, Germa- ny Italy, Turkey, Saudi Arabia, Yemen, the United Kingdom Israek Canada and the United States are the major sources of FI. i: 2. Infrastructure and Utilities at Electricity Ethiopia has enormous potential for by: dropower and geothermal energy gen craton, Several studies have so far been carried out to estimate Ethiopias energy ptental and to develop shor, medium. and long-term investment plans for the power sector. ‘The country’s hydropower potential is es timated at 45,000 MW and the potential for generating electricity from geothermal isabout 5,000 MW, The country is also en- slowed ssith enormous potentials of other renewable energy sources like solar and wind, particularly in rural areas. Despite such huge resources, the country has so far managed to utilize merely 2000 MW of its Dower generating potential and only about 35 percent of the popalation has acces 0 ‘lectrcity Since the formulation ofthe last, ‘comprehensive power system expansion masterplan the fundamental and unprec cedented strictural change that have taken, place in theeconomy are now finding their Ariving force in the power sector, ‘Currently Ethiopia has around 2000 MW of installed power generating capacity, out ‘of which 1,980 MW (99%) is generated from hydropower plants. The remaining 12 MW (0.6%) and 8 MW (0.4%) comes from thermal and_ geothermal sources respectively. According to the five year Growth and Transformation Plan (GTP), the country’ installed electricity generat ing eapacity is expected to reach 10,000 MW by the end of 2014/15 from the cur- rent level of 2000 MW. In the same year, the electricity coverage of the country will, bbe75 percent scommuntcation: sp thio Telecom, which is state-owned, is the sole telecom service provider in the country. It provides national and interna tional tclecommunications services using Satellite, Micro-wave Digital Radio Mult Access System (DRMAS), VSAT, UHE, ‘VHF, Long Line and HF Radio, In 2012/13, mobile subscribers. reach, 23.76 million making the national cover age 27.6 percent ln the same year intrenet subscribers reached 4.43 millon, All cegional cities and towns are connect ced by direct microwave links, and have suutomatic telephone and cellular phone ser- vices. International links are maintained vie satellite earth stations and fiber optics, provid i telephone, telex, fax, internet, tevision, digital data transmission, pre-and post paid cellular phones and coin box services. Furthermore, Ethio Telecom is currently en gaged in a major transformation work of Next Generation Network (NGN) projects to create world clas telecom service provider. According to the Growth and Transformation Plan (GTP), the country's subscribers for fixed line, mobile telephone and internet users wil be 305 million, 10 million ond 2.69 million re spectively by the end of 2014/15, seg Wisse val Ethiopia has buge run-off and ground water Potential. However, it utilizes a small portion ofthese resources. Access to safe potable wa: ter in urban areas was 81.3 percent in 2012/13. Access a safe potable water in rural areas was about 66.5 percent in the same year. The over ll national average of access to potable water supply was to 6845 percent in 2012/13. A huge project deemed to satisy safe wae ter demand in the towns and rural ateas was launched by the country’s fist five year devel- 1 ‘opment plan, Accordingly, the national access to potable water supply is expected to be 98.5 percent by the end of 2014/15, ag Reeds age Road transport Road plays vial oe in transporting Pept a gous hs Cogut Pant of ts cardial oe the Gover tment ha ented he oud sector a top pron for pble investment ae tere progres has ben mae n the cape She road nto the county Addis Ababa, the capital city, is am limportant regional and international transport hub. The road network ra dates from Addis Ababa to regions Tinking t with important itis, ovens, and other economically active centers ofthe country. International highways also link Addis Ababa and other cities and towns with neighboring countries such as Kenya, Djibouti, Evtrea, So ‘alia, South Sudan and Sadan. In 2012/13, the total road network, excluding community roads, reached 52,227 kim, out of which 37.3 percent are Federal roads and the remaining 62.7 percent are rural roads with an nual growth rate of 10.7 percent Raced an the elasification of the madd network, about 18,500kms ate in the Federal network, asphalt road const: tuted 37 percent and gravel road 63 Percent. Allseather raral road grew by Percent per annum constituting 52,727 kam of the total road network in 2012/13 In ne with the five year Growth and. ansformation Plan (GTP), the Gov- ernment has targeted 10 increase the total road network to 64,500 km in 2014/15. 24a Railivay transport ‘The rapid and sustainable economic growth in the country requires availablity ‘of a national railway network, Therefor, the Ethiopian government has formu Tated a strategic plan to construct total ‘of 2,395 km of national railway network, ‘One of the rail corridors, creating a cru cial trade route, i 1o neighboring Red Sea Port of Djibouti and, the old raihway that connects Addis Ababa, the capital to such port is now being replaced by an elect fied railway, a project expected 10 boost [Ethiopia import-export trade. Currently construction of this vital railway line isin good progress. In order to ensure efficient, cost effective reliable import and export movement ‘of cargo to and from the seaports of the neighboring countries, the government has established the Ethiopian Shipping and Logistics Enterprise. The Enterprises currently operating two dey ports, which are located at Modjo and Semera, 73 kms and 588 kms, from Addis Ababa, respec: tively. The enterprise is operating other four sub-terminals, which are located at Dire Dawa, Mekele, Combolcha and Ge. Jean, 515 kms, 783 kms, 376 kms, and 4 kms, respectively from Addis Ababa. Addis Ababa is linked by road to the Port of Djibouti, 910 kms, at the Gulf of, ‘Aden, The ports of Barbara, 964 kms, in Somaliland and Port Sudaa, 1881 kins, in ‘dan are other external trade routes that, provide services for export-import trades, between the countries. Another potential [pore acessibleto Fthiopia (in the south) Is, Port Mombasa, in Kenya, 2077 kms. 244 Air Transport transport isan important part of Ethi- Regarding Ethiopian cargo services, it op ‘pias transport network. Ethiopian Ait- erates over 40 cargo destinations spread lines, Africas World Class Airline, which across Africa, Furope, Asia and the Mid- ‘has gained a very good reputation inter- dle Fast via itshub ~ Addis Ababa, and an nationally in its 68 years of active services, other cargo hub at Liege. provides both domestic and international transport services. Ithas an outstand In addition to Ethiopian, other airlines ng safety records and is one of the few have flight schedules from and to Addis profitable African aldlines. Ethiopian is a Ababa and these include such airlines as Sar Alliance member Emirates, KLM, Lufthansa, Turkish, Ken yan and others, Ethiopian services inchude both passenger and cargo transport in its international flights and domestic routes. I also offers training, maintenance, repair and over haul services to more than a dozen other Alrcan and Middle Eastern aelines. Do. -mesti Might services are provided through, 17 destinations across the country. Ethiopian links the country with over 63, destinations worldwide including Brussels, Frankfurt, London, Paris, Rome, Stock holm, Washington DC, Babrain, Bangkok, Beijing, Beirut, Dubai, Guangzhou, Hong Kong, Jeddah, Kuvait, Mumbai, ‘Delhi, Riyadh, Sana, Tel Aviv , Johannesburg, Nairobi Lagos, Lusaka, Accra, Dakar and ‘many more other big ities in Aftiea, Its also expanding is international services, me. Oo: Financial Services “The National Bank of Ethiopia (NBE) is the central bank of the ‘country. Commercal functions are performed by the state-owned Commercial Bank of Ethiopia (CBE) and a num- ber of private banks. The CBE and private commercial banks offer savings and checking ac- counts, short-term loans, for eign exchange transactions and mail and cable money transfer services. They also participate in equity investments, provide {guarantees and pecform other ‘Commercial banking activities “The number of banks operat- {ng in the country has reached nineteen (three of them govern- ‘mentowned) in 2013, These in- clude the two specialized state- ‘owned banks, the Development Bank of Ethiopia (DBE) and the Construction and Business Bank (CBR), “The DBE, with its 32 branches, extends hore, mediom= and feng tro Tous to viable de- lopment projects, including ashen (55 branches), Abysinya (47 branche), Industral and agricultural proj-- egugen (50 branches), United (11 branches), Nib ects (45 branches), Cooperative Bank of Oromiya (38 5 Ianches), lon (20 branches, Oromia Taterna ‘he CBB, with its 4 branches. ona (25 branches), Bun (8 branches, Zemen provides longterm loansfor the ranch), Bishan, Abs), Addi, Debub Global and onstruction of plants, produe- Py Ing hmng onan mae rnalsand the construction ofpf- The number of insurance companies is fifteen, Ethi- vate schools, clinics, hospitals. opian insurance Corporation is government-owned and real estate development. Ghd the rest ate private. Private insurance |e | Ta on oo i se ve [Fama 1 — asm Toit TSS feugeia Source MinstryofAgiure a 4g Livestock farming fishery and opculture Considerable opportunities exist for in- i growing rapidly providing an addtional, vestments in rearing and breeding of live opportony for investment oles wll op fresh water fishery d= Yelopment and the production of honey and beeswax ‘The testack population of Ethiopia. is fin Alia and tein the wold. The subsector has lrg resus, which dlude 5088 mon ct, 2598 non Sheep. 21 s0milion goats and 42.05 i- Hin pours. Opportnties are lo aval ate inca chet et and crcl arming Potential activities for private investors in ‘commercial forestry include the prodve- tion and marketing of gum and incense, Jarge'scale plantations for timber, the es” tablishment of integrated forest-based in- lystries such as pulp, and paper and chip- board Ethiopia potential for fishery develop- ment is limited to its freshwaters of most ofthe lakes that are located close to urban fro The total fish catch potentil from ‘these waters is estimated at 40,000 tonnes per year. However, there i also an oppor- tunity for investment in the construction of aquaculture to produce fresh water fish for local and international markets, ‘The current annual production of honey and beeswax of the country is estimated 5843.7 thousand tonnes and 3,600 tonnes, respectively. This provides a high invest. ‘ment opportunity in all aspects ofthe de- velopment of this untapped sub-sector in the production, collection, processing and marketing of honey and beeswas. In rela- tion tothis, the demand for the bee queen. hopin lavestment Gui 2014 Manufact 2, Manufacturing “The major manufactaring activities are in the production of food, beverages, tobac- 0, textiles and garments, leather goods, Paper, metallic and non-metallic miner al products, cement and chemicals. Un- er Growth and ‘Transformation Plan (2010/11-2014/15) of the country, pro- duction of textile and garments, leather products, cement industry, metal and en- gineering, chemical, pharmaceuticals and agro-processing are priority areas for in nt. Thus there are ample manufac yportunilies for prospective inves- tors in the following areas 4. Textiles and clothing: Spinning, ‘weaving and finishing of textile fabrics from the beginning and the production of garments; man ufacture of knitted and crocheted fabrics, carpets, sport wears, et. ei hes 1 Food and bererage products Frocsangel men ind et prod ch finan ch produce and iti and epee na slid ondo ening of ary prc mana ‘fcture of starch and starch prod a procesing ofp ed Shd proesingand bosting ot trol tet supe pone eign incu po Cextinglt pes ol sed ere ale manatactue of acaonpas fue ‘Tannery and leather goods: Tanning of hides and skins up to fished lev mance fog gage tems handbags, ade an arness items, footwear and gar ‘ments, and integrated tanning and ‘manufacturing: iv, Glass and ceramic: Tableware and sanitary ware, sheet glass and containers, Chemicals and chemical prod Uucts: Manufacture of basi chemi cals{ including ethanol) based fon local raw materials, including fertilizer and nitrogen, soda ash, rubber, PUC granules from ethyl alcohol; manufacture of caustic soda and chlorine-based chem cals; carbon and activated carbon; precipitated calcium carbonate: ballpoint ink, varnishes; soap and detergent, cleaning and polishing preparations, perfume and toilet preparation and pesticides, herbi fides oF fungicides i. Drugs and pharmaceuticals Manufacture of pharmaceutical, ‘medicinal, chemical and botanical products inthe form of tablets, apsules, syrups and injoctables Vil, Paper and paper products Pulp from indigenous raw mate rials paper and paper products vii, Plastic products: High-pres sue pipes, pie tings, shower hoods, wash basins, insulating fit tinge light Stings, office nd school supplies, and fitings fr furnitere; |x, Building materials: Manufac ture oflime, gypsum, marble, granite, limestone, cram es tubes, pipes and fitings 3, Tourism Faiopia has mich oor to internation. sora a gue isn and Cultural ertage, natural traction: is =P fet wor beste sey lt eh Morand Taha, Important archuclgical shes and hosptbe people tnd ther cultures versed a combina tion whieh makes stable fr towrim iowa the Historie Rot comprises the most important tours ses in coun uy Ethiopia wealth of tourism attractions gives it great potential for cultural and ed Ucational tourism, photo safaris, hunting salars, bind watching, watersports includ giver rating, desert trekking, mountain liming and-evotoutism, Heath tourism, fon the account ofthe cool climate and nu ‘merous hot springs, isan additional type| of tourism with grest potential, Tour oper tors have shown considerable growth in. recent years, 4 Mining Ethiopia offers excellent opportunities for ‘mineral prospecting and. development Geological studies have identified a fa vorable gealogical environment hosting a ‘wide variety of mineral resources. According to the Ministry of Mines, Ethi- ‘opia has a substantial deposit of gold, tan talum, platinum, nickel, potash and soda ash, Among construction and industrial ‘minerals are marble, granite, limestone, clay, gypsum, gemstone, iron ore, coal, copper, sila, diatom, ete, Geotheri energy resource also exists in good quanti ty. With regard to fossil energy resources, there are significant opportunities for oil and natural gas exploration and develop. ‘ment in the major sedimentary basins, ‘namely the Ogden, the Gambella,the Blue Nile and the Southern Rift Valley. Steps are being taken to improve the st Fan, inching the eevatem af an ee ronment conducive to private, local and foreign investment. While there s no fe striction on private investorsin developing any type of mineral esousce, the greatest potential isin gold and rare metals, petro. eum, precious and base metals, industrial ‘minerals and dimension stones (marble and granite) Prospecting exploration and. ‘mining licenses have been issued to for eign mining companies with an aggregate capital of ETB 11.7 billion in 2008/09. OF the total capital, Hee 509.6 million was. jected into the petroleum project alone. In 2012/13, the proceed from the export of ‘gold alone was USS 430.6 milion, “The Ministry of Mines is responsible for the processing of license application, rex ‘lation of the mineral operations snd the omotion of investment opportunities the mining sector. The Mineral Opera tions Department i the focal point in the Ministry for the receipt of mining license application ofa foreign investor. & Hydropower “The potential of Ethiopis renewable and nnonrenevable energy resources is large, with the economically feasible hydropow” erpotential estimated at 45,000 MAW. Ihas large potential for geothermal energy gen- eration, Nine of ts major rivers are sult. able for hydroelectric power generation, “The private sector can participate in elec tricity generation from any source and without any capacity limit. Transmission and supply of electrical energy through the Integrated National Grid System is, however, exclusively reserved forthe Gov” ernment hiopia aspires to attract internationally reputable educational institutions, univer sites and training centers. The fallowing areas are some ofthe opportunities for for- ign investors by constructing own build ing: + Secondary schools 1 Scence and technology colleges! * Colleges for business and mar keting: ol for medical sconce Bot, private investors, both foreign and dhl re aowed (0 pera sn a gra isto oe er itn ing cen Moreover, private investors are highly efor hospitality in encouraged to engage in generating dee dustry. tricity in bulk and reach an agreement of The Government designed quality im- power purchase withthe Fthiopan Flee- provement package and is under the pro Irie Service a public enterprise for trans- ce88 of implementation with a view to ins a ipl fey thragh ening the quality of ection nthe the ytd syie untey 6. Social Services Social services are other potential areas for FDI in Fthiopia, Potential foreign oF local Investors can take full advantage of these| ‘opportunities through direct investments ‘or Joint ventures with Ethiopia Health services are areas where investment ‘opportunities exist for foreign investors. Accordingly, opportunites for investment are in the follawing areas by constructing ‘own buiking + General hospitals and + Specialized hospitals. Health services coverage, which isan ind ‘ator of access ofthe population to health facltios, has increased, However, heath service facilities inthe country, in general, are not yet adequate as compared to an in ternational standard Technology Investors are also encouraged to invest in lucrative information and communication technology development (ITC) that can elier great returns. Ethiopia has extensive opportunities in the construction industry, particularly in the construction of roads, residential, commercial and industrial buildings, in- lucing low-uost housing, Awave of the ‘rucial role the road sector plays in the evelopment of the national economy, the Government has given special attention to the development of the country’s road net work. A wide range of opportunities exist, {or foreign investors in the following areas: + General Contractor Grade One + Water well drilling (Grade One); and + Mineral exploration drilling (Grade One), a. Institutional Framevork a Registration Requtrements 1 tae kine or n= Them el pe! en ‘So nce mes nd tes UD nee peo mee em ea ts ny a pein Seiecer wa eee caataes bt chide inen Gk onlamimcyeiend ee aoe he nm ay tl epi of ‘Re Epi tem Comin 6 ian ise rg one e ee eae TE mete reno nett neat emeiy we Se rein nee nt seems ewes daa ese sti ts nn ont ap om tet varvar eames eccayee SS 1h ke ens a cy tafe vt nee Ue pomcgune Ot cnlupnagtearte Ag righ Seles ‘i mipecani we a t services Renders to foreign investors are the fellowing: Am indivihil investor may also iewest as a sole pro mmnptceyieem ae ewe whe ss pe SSCS, fee eee othe eerie Sono Se ee eee) cade Sie Gaels ares eee Bp merci Praeger nies cee aaincte Oe etme de tel gh sls eee ee Se a eccs oeemtimred ‘stein rl cenit oye =a ste eum gn er sh hn TES ccamrteasane trmelponr ater oem ee at Se nT, oki en he dears i SEEPS STRNAEE Sea hen ti eae Sererhsta ape [inte giscnanan oer, veaeectngecircerce Commercial Registration of Set curlers wah coms Company sa Weeds eu aaa ie Se amipegen tee eee SRE Settings Potton ets thor ons “angio or iy on gt Coven ply te Sse apy cre nelson creme ‘tame dence ren th Ein The EC dope nl eso bal of “Aap psa poner of Imei reotachisetiesesitionfandend ORE, iis os, ctl pover st com servos, TAY memorandum and anna {© prc om snd rds mt spt oe {etigpoldevionmertl pact encima GIA) veeyoteah seeder vad Sulttertccineamet popes niche Poor My ada po apy ‘sto Metin aber 8) facet ening dome netar "thipianInvestncat Guide 2018 +Tax etiam (TN) “asthetted ie ee tml coreg tha the compen ap ‘eben nia *ineeof sha Company. bank steneat Swingin a hat ae orth fe ie tf tose se oe copy Iscepostedia aac Comme Resraton ofa bac fmpany et kn i sei ch om pvt biotype nee a Eatrog tment Telerotet nopeton tec "Lae acme ofthe nenonnn ‘Mien oct +g pst inccin Eoeroh ome pels tore od inkioya tine ponanpioe oa aon rnb 2 ‘ouside opener ‘teeta tence filha une toe wh poe te > pererariarianpirye pani Investment to be made by business organization Incorporated in Ethiopia Wee he apleaton ob me by bes a ‘aaron perdi pti ease parsorienk aitenreerraeee aed

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