Ethiopia allows foreign investment in logistics sector

Ethiopia logistics is now open to foreign investors,a state agency overseeing investments in the country has confirmed.

The Ethiopia Investment Board said that foreign firms will now be allowed to take stakes of up to 49 percent in logistics businesses.

The board has lifted the restrictions imposed under Article 3.1(b) of the Investment Regulation No. 270/2012, “including the provision of bonded warehouse, consolidation and de-consolidation services, and allow joint venture participation of international logistics service providers holding up to 49% or less stakes,” read the statement in part.

Article 3.1(b) of the Investment Regulation states that “packaging, forwarding  and shipping  agency services” are “exclusively reserved for Ethiopian nationals.”

In lifting restrictions to the logistics sector, Ethiopia Investment Board observed that logistics is key to boosting international trade, supporting industry growth and a major catalyst to investment attraction.

Betachew Mekuria, Commissioner of the Ethiopian Investment Commission told local media that the logistics sector is “now open for joint venture arrangements. A great, move towards improving competitiveness of Ethiopia in manufacturing for export.”

Prime Minister Abiy Ahmed has presided over a shake-up of one of the most heavily-regulated economies in Africa since his appointment in April. Mr Abiy heads the Ethiopian Investment Board.

Read Also:

Ethiopia gears up for first Railway Summit

theafricalogistics

Recent Posts

Best stocks to invest for retirement: A comprehensive guide to building a stable portfolio

Investing for retirement is a long-term strategy that involves selecting stocks that provide stability, growth,…

54 minutes ago

Stocks to sell Before 2025: Industry trends and analyst insights on underperforming stocks

As we approach 2025, analysts are issuing cautionary advice for investors, urging them to reconsider…

2 hours ago

Ready to buy? Here are the hottest stocks to add to your list now

In today’s dynamic market, identifying the right stocks to invest in can make all the…

2 hours ago

Why Micron Technology stock should be on your radar

In the fast-paced world of technology stocks, few companies have seen such consistent growth and…

2 hours ago

Delta passenger furious after Seat given to service dog: A controversial incident sparks debate

In a recent incident that has captured the attention of travelers and aviation enthusiasts alike,…

15 hours ago

NVIDIA (NVDA): A stock to watch in 2025?

When it comes to picking a stock with strong potential for 2025, NVIDIA (NVDA) stands…

16 hours ago