ADDIS ABABA- The amended Investment Proclamation No.1180/2020 and the Investment Regulation No 474/2020 Ethiopia have opened windows for undertaking joint ventures in Ethiopia but it requires the combined effort of all actors, so said Law Experts.
Speaking at the recent event organized by Land for Ethiopia to raise awareness on investment proclamation and regulation, Agriculture Ministry Law Expert Ahmed Abdullah said that since the reform commenced in Ethiopia, there have been improvements upon various proclamations and regulations aimed at fostering the country’s development. Approved investment proclamation has a potential of encouraging joint investment, avoiding good governance problems exercising a one-stop-service.
This proclamation also allows foreign investment to invest in the country’s tourism, technology and other areas in which the proclamation and the regulation allow to invest.
It also provides members of Ethiopian Diaspora with the right to be treated as Ethiopian citizens and involve in various investment, he said adding that the legal preconditions have been enacted for interested investors to invest jointly in lowland areas for wheat farming. Government allows agricultural machinery and inputs to be imported duty free with the intention to encourage and support agriculture as it plays vital role for nation economy.
Oromia State Attorney General Bureau Law Study and Draft Attorney General Hussen Defo said that the investment is expected to take the moral, culture ,health and other things of the community into account and the proclamation needs to be made compatible with local context to be sustainable.
Participants also highlighted that the progress seen in proclamation improvements is encouraging, but awareness rising is crucial to realize healthy and effective investment as well as joint investment. Farmers have to be aware of the improvements and how to use the opportunities for being effective.
Enforcing proclamation is not enough, but it has to be run towards assuring public beneficiary at implementation phase.
BY MULATU BELACHEW
THURSDAY 10 FEBRUARY 2022
