After the announcement of a new directive allowing foreign investors to engage in wholesale and retail business in Ethiopia, 71 international companies have expressed interest, and 20 licenses have been issued since July.
It is worth recalling that two months ago, the Ethiopian Investment Board, chaired by the Prime Minister, decided to open up sectors previously reserved for Ethiopians to foreign businesses.
Since the Ethiopian Investment Commission began issuing licenses under this new law, 21 organizations have been licensed: 13 to engage in retail business and eight for export activities.
On September 23, 2017, a discussion was held at Mesfen Tafesena and Associates Law Office regarding Ethiopia’s investment landscape. The meeting was attended by key stakeholders, including the Minister of Finance, Dr. Eyob Tekalign, and Dr. Brook Taye, CEO of the Ethiopian Investment Holding Group.
The senior policy and legal advisor from the Investment Commission stated that many companies granted licenses are from emerging markets. While the advisor did not disclose company names, it was noted that most businesses registered for export are focused on coffee and sesame. Additionally, companies planning to import into Ethiopia have shown interest in sectors like electric vehicles and construction materials.
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