INVESTMENT OBJECTIVES AND AREAS OF INVESTMENT
5. Investment Objectives
The investment objectives of the Federal Democratic Republic of Ethiopia are designed to improve the living standards of the peoples of Ethiopia through the realization of sustainable economic and social development, the particulars of which are the following:
1/to accelerate the country’s economic development;
2/to exploit and develop the immense natural resources of the country;
3/to develop the domestic market through the growth of production, productivity and services;
4/to increase foreign exchange earnings by encouraging expansion in volume, variety and quality of the country’s export products and services as well as to save foreign exchange through production of import substituting products locally;
5/to encourage balanced development and integrated economic activity among the regions and to strengthen the inter-sectoral linkages of the economy;
6/to enhance the role of the private sector in the acceleration of the country’s economic development;
7/to enable foreign investment play its role in the country’s economic development;
8/to create ample employment opportunities for
Ethiopians and to advance the transfer of technology required for the development of the country.
6. Areas of Investment Reserved for the Government or Joint Investment with the Government
1/ The following areas of investment shall exclusively be reserved for the government:
a) transmission and distribution of electrical energy through the integrated national grid system;
b)postal services with the exception of courier services;
c)air transport services using aircraft with a seating capacity of more than fifty passengers.
2/ Investors shall he allowed to invest in the following areas only jointly with the government:
a) manufacturing of weapons and ammunition;
b) telecom services.
3/ The Councils of Ministers may, whenever it deems necessary determine by issuing regulation that areas of investment exclusively reserved for the government or for joint investment with the government be opened to private investors
7. Areas of Investment Reserved for Domestic Investors
Areas of investment exclusively reserved for domestic investors shall be specified by regulation to be issued by the Council of Ministers.
8. Areas of Investment Allowed for Foreign Investors
Areas of investment open for foreign investors shall be determined by regulation to be issued by the Council of Ministers.
9. Investments to be Undertaken Jointly with the Government
The Privatization and Public Enterprises Supervising Agency shall receive investment proposals submitted by any private investor intending to invest jointly with the government; it shall submit same to the Ministry of Industry for decision and, upon approval. designate a public enterprise to invest as partner in the joint investment.