Please indicate whether there is a foreign direct investment review regime in your jurisdiction in relation to mergers involving foreign buyers / acquirers and kindly indicate the relevant review/regulatory body? If there is, please indicate whether there have been any foreign direct investment notifications to date. If there is no foreign direct investment regime, kindly indicate whether there are any plans announced to introduce it.
Yes. The Investment Proclamation No. 1180/2020 (“Investment Proclamation”) applies to foreign direct investment into Ethiopia. The Ethiopian Investment Commission, established under the Investment Proclamation, is the relevant regulatory body.
If there is a foreign direct investment regime in your jurisdiction, please indicate whether it applies to all sectors or specific sectors (such as sectors considered to relate to ‘national security’).
Yes. The Investment Proclamation applies to foreign direct investment into Ethiopia, excluding investments in the prospecting, exploration and development of minerals and petroleum.