Regulations

Ethiopian Investment Holdings Regulation No. 487_2022

COUNCIL OF MINISTERS REGULATION NO. 487-2022

THE DEFINITION OF OBJECTIVES AND FUNCTION OF THE ETHIOPIAN INVESTMENT HOLDINGS COUNCIL OF MINISTERS REGULATION

WHEREAS, the Ethiopian Investment Holdings has been established under the Definitions of Powers and Duties of the Executive Organs of the Federal Democratic Republic   of Ethiopia Proclamation No. 1263/2021;

WHEREAS, it is provided by the Proclamation that the organization and function of the Ethiopian Investment Holdings shall be defined by a Regulation to be issued by the Council of Ministers and thereby it has become necessary to issue a Regulation that defines its organization and functions;

WHEREAS, there is a need to create an institutional framework that allows attraction of private investment into Ethiopia in a strengthened manner and creation of an enabling environment for enhanced joint investment between the private and public sectors in such a way that serves the strategic needs of the economy;

WHEREAS, it has become necessary to create an institutional framework that allows the full optimization of the value of the range of state-owned assets such as real estate, land, infrastructure and state-owned enterprises through a coordinated strategic oversight;

WHEREAS, it is imperative to uphold and incorporate strong corporate governance principles to instill commercial and investment discipline in the management of state-owned assets and resources;

WHEREAS, it has become necessary to bring together various state-owned assets under one legal entity, in a manner that allows the government to provide a strategic oversight, attract sizeable foreign investment and technology;

NOW THEREFORE, in accordance with Article 103 of the Definition of Powers and Duties of the Executive Organs of the Federal Democratic Republic of Ethiopia Proclamation No. 1263/ 2021, the Council of Ministers has issued this Regulation.

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