INTERNATIONAL - Ethiopia approved new regulations that continue to reserve business opportunities in many sectors, including financial services, for local investors. Banking, insurance, brokerage services, and legal consultancy remain off limits for foreign investors, according to the regulations published on the Ethiopian Investment Commission’s website. Exports of coffee, and media and security services are also exclusively for local investors. International air transport services, which is dominated by state-controlled Ethiopian Airlines, public transport, and the import and export of power are among industries reserved for joint ventures with the government. Still, foreign investors working with a domestic partner are restricted to a 49 percent stake, according to the regulations that took effect on Sept. 2.

Source: Ethiopian News September 09, 2020 13:07 UTC