Parliament approved a new investment law, which is expected to relax the investment environment in the country, on January 30, 2020. Drafted by the Ethiopian Investment Commission law revision task force, the bill was in the making for close to a year. The revision opens up the logistics, financial and aviation sectors. It paves the way for public-private partnerships in the manufacturing of military weapons, imports, exports, power distribution, international air transport and postal services with the exception of courier services. The investment law was revisited in 2014 for the last time and was first legislated in 2012. The law also partially opens the door for the provision of logistics service, air transport services, inland public transport and freight transport to foreign investment. In the first quarter of this fiscal year, only 700 million dollars worth of foreign direct investment flowed against a target of one billion dollars.
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