Investment

Proclamation No.769/2012 Investment Proclamation

PART NINE

MISCELLANEOUS PROVISIONS

36. Loans and Utilization of Foreign Currency

1/An investor who acquires an external loan shall have such loan registered with the National Bank of Ethiopia in accordance with the directive of the Bank.

2/ For the purpose of his investment activities, any foreign investor shall be allowed to open and operate foreign currency accounts in authorized local banks in accordance with directive of the National Bank of Ethiopia.

37. Employment of Expatriates

1/Any investor may employ duly qualified expatriate experts required for the operation of his business.

2/An investor who employs expatriates pursuant to sub-article (I) of this Article, shall be responsible for replacing, within a limited period, such expatriate personnel by Ethiopians by arranging the necessary training thereof.

3/Notwithstanding the provisions of sub-article (I) and (2) of this Article, a foreign investor shall, without any restriction, have the right to employ expatriate employees on top management positions for his enterprise.

38. Duty to Observe Other Laws and Protection of Environment

Any investor shall have the obligation to observe the laws of the country in carrying out his investment activities. In particular, he shall give due regard to environmental protection.

39. Power to Issue Regulation

The Council of Ministers may issue regulations necessary for the implementation of this Proclamation.

40. Repealed and Inapplicable Laws

1/The Investment Proclamation No. 280/2002 (as amended) is hereby repealed.

2/No law or customary practice shall, in so far as it is inconsistent with this Proclamation, have effect with respect to matters provided for in this Proclamation.

41. Effective Date

This Proclamation shall enter into force on the date of publication in the Federal Negarit Gazeta.

Done at Addis Ababa, this 17th day of September, 2012.

GiRMA WOLDEGIORGIS

PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA

Advertisements
Pages: 1 2 3 4 5 6 7 8 9 10 11

9 replies »

  1. Dear, first I very grateful for all your devotion to make laws ….. accessible.
    would mind please to send me federal and Oromia RNS proclamation, regulation, directives, if any, concerning Investment other than this proc. 769/2012.
    And please any literature, thesis, journal articles on Expropriation of Investment in general and Foreign investment in particular.

    with best regards,

  2. 1st of all i would like thanks for ur help . it is known that an invester is exmted from stamp duty charge when he get bank loan but am a little bit confiused i do have one coustomer how have investment license and retaile business the loan loan is used for both. my qustion is the customer can pay stampduty charge or not. if it is possible pls send me you reply on my email

  3. please send to me the newly issued or Draft -proclamation For Financial Statments Prepration- which was proclamed in June 2014. Thank you!

  4. Sir Abrham . I would like to wonder you for all your efforts, that you make known the current laws of Ethiopia to every one . Through this opportunity i will ask your contribution regarding the requirements of registration and license as you give me some explanation .

    • I was asked to deliver some speech on newly enacted proclamation of investment and the current need of ethiopia for economic development please can you send me your opinion with best regards

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.