Ethiopian Investment Commission (EIC) ETHIOPIA: 4 Preferred Location for Foreign Direct Investment in Africaran ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Ethiopia at a Glance Official Name: Federal Democratic Republic of Ethiopia Capital City: Addis Ababa; which is also the seat of the African Union (AU) and United Nations Economic Commission for Africa (ECA) Location: Ethiopia is found in the north-eastern part of Africa known as “Horn of Africa’: It enjoys a unique location at crossroads between Africa, the Middle East, and Asia. Area: 1.14 million sq. km. Arable land: 513,000 square kilometers (45%) Irrigated land: 34,200 square kilometers (3%) Population: 84.8 million (2012/13) Population density: 74.4 per sq. km (2012/13) GDP per capita: US$ 550 Elevation Extremes + Lowest point: Dallol Depression, 148m below sea level + Highest point: Mt. Ras Dashen (in north Ethiopia), 4620m above sea level Climate + Temperate in the highlands and hot in the lowlands. + Temperature ranges from 200C to 300C. + Rainfall ranges from 200mm to 2000mm. Rainy Seasons Ethiopia receives big rains in June, July and August; and small rains in February and March. Time Zone: GMT+3 Working hours: The government office hours: Monday to Thursday: © 8:30am - 12:30 pm ¢ 1:30 pm - 5:30 pm Fridays ¢ 8:30 am - 11:30am. « 1:30 pm - 5:30 pmrath) ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Why invest in Ethiopia? + Political and social stability * Macroeconomic stability and rapidly growing economy « Excellent climate and fertile soils + Private sector friendly government « Abundant and trainable labor force + Labor law of international standard + Strategic location at the crossroads between Africa, the Middle East, and Asia » Competitive incentive packages + No tolerance to corruption « Lowest crime rate in Africa + Simple and transparent investment approval procedures + Access to wide market: > Large domestic market » COMESA (Common Market for Eastern and Southern Africa) + 19 member countries « Over 400 million people > AGOA (African Growth and Opportunities Act) and GSP (Generalized System of preference) of the United States Government initiative, and > EBA (Everything But Arms) Agreement of the European Union Economic Indicators and Trade + GDP Growth in major Sectors (in %) + Agriculture «49 + Industry ... . 13.6 BSSRVICES. sccnnooisennnrnces 11.1 + Growth rate of Real GDP (QOL 12) sc eussves 8.5%ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Share Share Export commodities Value | (%) | Value | (%) Coffee 832.9 |26,33| 746.4 | 24.22 Oil Seeds 472.3 |14.93| 443.5 | 14.39 Leather and LeatherProducts| 49.6 | 1.57 | 100.5 | 3.26 Textile and Garment 84.4 | 2.67 | 97.4 3.16 Pulses 159.7 | 5.05 | 233.4 | 7.57 Meat and Meat Products 78.8 | 2.49 | 74.3 2.41 Fruits and Vegetables 447 | 1.41 43.9 | 1.42 Live Animals | 207.1 | 6.55 | 166.4 | 5.40 Chat 240.6 | 7.61 | 271.3 | 8.80 Gold 613.0 [19.38] 578.8 | 18.79 Flower 197.0 | 6.23 | 186.6 | 6.06 Others not specified 183.3 2.79 138.8 | 4.51 Total 3,163.4| 100 |3,081.3} 100 Ethiopian Revenues and Customs Authority Europe 49.9% Asia .... 26.5 % Afita wencanamaepenus 18% America . 3.1% Oceania... - 0.5% Source: National Bank of Ethiopia Asia.... Europe we AGTICa Lecce cece e renee ene 59% America . Oceania. 0.3% Source: National Bank of Ethiopiarat ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Major Investment Opportunities 1, Agriculture * 74.3 million hectares of land (45% of the total area) suitable for agriculture, out of which only about 18 million hectares are currently utilized + 513,000 sq.km of arable land (45% of total land area) * 10 million hectares of irrigable land (only 3% utilized) + 18 million hectares are currently cultivated under rain-fed crops * 18 major agro-ecological zones and 49 agro- ecological sub- zones * Climate suitable for growing over 146 types of crops * Food Crops + Cereals and pulses + Oil crops “+ Beverage Crops + Coffee + Large-scale commercial coffee production + Coffee roasting, grinding and packing for international market + Tea « Large- scale commercial tea plantation « Modern tea blending and packing industries “ Horticulture + Fruits and vegetables + Herbs « Cut flowers Cotton »* 3 million hectares of land suitable for commercial production + Sugar cane plantation and sugar processing + Rubber and palm tree plantation + Ethiopia has the potential for large scale rubber and palm tree plantations. + Boil-fuel production + Feed stocks for bio- diesel: jatropha, palm cil, castor oil, etc + Feed stocks for ethanol: sugar cane, sugar beet, potatoes, corn, etc. «+ Sugar cane plantation and sugar processing 4ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa o ‘Rubber and palm tree plantation « Ethiopia has the potential for large scale rubber and palm tree plantations. > Boil-fuel production + Feed stocks for bio- diesel: jatropha, palm oil, castor oil, etc + Feed stocks for ethanol: sugar cane, sugar beet, potatoes, corn, etc. Spices * Livestock ‘There are: + 50.88 million heads of cattle + 25.98 million heads of sheep + 21.80 million heads of goats « 42.05 million poultry Investment Opportunities in Livestock Sector + Livestock farming « Meat processing + Animal feed processing “ Apiculture + Ethiopia is the leading honey and bees wax producer in Africa + About 10 million bee colonies + Over 800 honey source plants + The current annual production of honey and beeswax of the country is estimated at 43.7 thousand tones and 3,600 tones, respectively. Aquaculture « The total fish catch potential from fresh waters is estimated at 40,000 tons per year « Opportunity for investment in the construction of aquaculture to produce fresh water fish for local and international markets “> Forestry and related activitiesrath) ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa 2. Manufacturing “+ Textile and Apparel « Production of yarn; woven, knitted and croacheted fabric « Prouction of textile garment “Leather and Leather Products « Leather footwear and garment + Luggage, handbags and gloves « Saddle and harness « Integrated tanning and manufacturing eh “ Pharmaceutical Industry + Manufacturing of human and animal medicine + Manufacturing of inputs of basic pharmaceutical products “> Metal and Engineering Industry “ Chemicals and Chemical Products Industry « Fertilizers and nitrogen compounds + Caustic soda and soda ash « Soap and detergent + Paints, varnishes, writing and painting inks + Man- made fibers + Magnesium Chloride « Hydrogen Peroxide + Coal Phosphatera ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa *% Paper and Paper Products Manufacturing « Pulp, paper and paper packages + Plastic and Plastic products + Plastic products used as inputs for construction of building, vehicles or other industrial products « Plastic pipes or tubes “+ Non- Metallic Mineral Products Industry + Glass and glass products « Ceramics ** Building materials: Manufacture of lime, gypsum, marble, granite, limestone, wall clading and roofingtiles (not from cement), corrugated sheets, tubes, pipes and fittings. “+ Agro- Processing + Processing of fruits and vegetables + Processing of meat products + Integrated production and processing of fish and fish products « Integrated dairy farm/or processing of dairy products + Processing of crude and refined edible oil + Processing of starch, cornflakes and edible oil from maize + Processing of spices + Manufacturing of baby food, roasted and ground coffee, soluble coffee, tea, yeast, vinegar, mayon- naise, artificial honey, and similar food products » Production of spaghetti, macaroni and other similar products. « Brewing and wine making + Sugar and sugar related productsra ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa « Software, content, application, and database development « System integration and data center services + Information technology enabled services + Manufacturing of ICT equipment like computers and peripheral equipment, etc. + Precious and metallic minerals « Industrial and construction minerals + Energy minerals + Extracting oil and natural gas « Electricity generation from any source and sale to the Ethiopian Electric Power Corporation(EEPCo) for transmission and distribution through the Inte- grated National Grid System +» Off- grid transmission and distribution of electricity Natural riches, cultural heritages, and religious, archeo- logical, and historical places make Ethiopia one of the few awe- inspiring tourist destinations in Africa. Thus opportunities are in: + A star designated hotels, lodges and restaurants + Tour operation (Grade one)rath) ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa + First grade construction contracting « General Construction Grade One(GC-G1) + Building Construction Grade One(BC-G1) * Road Construction Grade One, (RC-G1) and + Water well drilling (G1) « Mineral exploration drilling (G1). + Real estate development 9. Health Opportunities in health investment are in the following areas by constructing own building: + General hospitals « Specialized hospitals 10. Education The following areas are some of the opportunities for foreign investors by constructing own building: « Secondary schools + Science and technology colleges/ universities « Colleges for business and marketing + Schools for medical science « ITC institutions + Technical and vocational ( including sports) training centre + Training centre for hospitality industry Priority Areas + Textile and apparel industries + Leather and leather products industries +» Agro-processing industry + Sugar and related industries » Chemical industry + Pharmaceuticals industry » Metal and engineering industries Government Support to Priority Areas > Export incentive » Customs duty exemption & Income tax holiday > Loss carry forward > Remittance of profit, dividends, principals and interest payments on external loans » Provision of land at competitive lease price Investment Guarantees and Protections “ The Constitution and the investment law protect private propertyETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa + A foreign investor has the right to make the fol- lowing remittances out of Ethiopia in convertible foreign currency at prevailing rate of exchange: + profit and dividends + principals and interest payments on external loans, + payments related to technology transfer agreements + proceeds from the sale or liquidation of an enterprise; + compensation paid to an investor + Proceeds from the sale or transfer shares or partial ownership of an enterprise to a domestic investor. “+ Ethiopia is a member of the: + Multilateral Investment Guarantee Agency (MIGA), a World Bank affiliate, which issues guarantee against non- commercial risks in signatory countries: + World Intellectual Property Organization (WIPO) # Ethiopia has also concluded bilateral investment promotion and protection agreements with the following countries: Algeria Kuwait Austria Libya Belgium and Luxemburg Malaysia China Netherlands Denmark Russian Federation Egypt South Africa Equatorial Guinea Spain Finland Sudan France Sweden Germany Switzerland India ‘Tunisia Tran Turkey Israel United Kingdom Italy Yemen Republic of Djibouti USA State of Qatar * In addition, the country has signed double taxation avoidance treaties with: Czech Republic Russia France South Africa Israel ‘Tunisia 10rata ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Italy Turkey Kuwait Yemen Romania Mode of doing Business in Ethiopia for Foreign Investors Investment can be effected in one of the following forms in Ethiopia: a. Sole proprietorship b, Business organization incorporated in Ethiopia or abroad Capital Requirements A. Minimum capital requirement for wholly owned foreign investment: + US$200,000 for a single investment project. + US$100,000 per project in areas of engineering works or architectural or related technical consul tancy services, technical testing and analysis or publishing; B. The minimum capital requirement for investments made in partnership with the domestic investor(s): « US$150,000 per project « US$50,000 per project in areas of engineering works or architectural or related technical consultancy services, technical testing and analysis or publishing; C. No capital requirement is required for an investor who reinvests his profit or dividend generated from his existing enterprise. Requirements for registration I, Where the investment is to be made by an individual person: * a photocopy of the relevant pages of a valid passport showing his identity « where the application is signed by an agent, a photocopy of his power of attorney II. A. Where the investment is to be made by a business organization incorporated in Ethiopia: +a photocopy of its memorandum and _ articles associations where it is to be newly established, in addition, a photocopy of the relevant pages of a valid passport of each shareholder showing his identity; and, « two recent passport -size photographs of the general manager; 11ETHIOP| : A Preferred Location for Foreign Direct Investment in Africa B. Where there is a foreign national treated as a domestic investor in the business organization: « a photocopy of his identity card evidencing the domestic investor status; C. Where there is a juridical person or a branch of a foreign juridical person in the business organization: * a photocopy of its memorandum and articles of associations or similar documents of the parent company * a photocopy commercial registration certificate a « photocopy of minutes of resolution passed by the au- thorized organ of the parent company authorizing the juridical person or the branch to invest in Ethiopia III Where the investment is to be made by an Ethiopian branch of a foreign business organiza- tion incorporated abroad: a photocopy of its memorandum and articles of associations or a similar document of the parent company a photocopy of a document attesting the appointment of the branch manager and his two recent passport- size photographs a photocopy of the relevant pages of a valid passport or identity card of the branch agent a photocopy of the commercial registration certificate of the business organization a photocopy of the minutes of resolution of the authorized organ of the parent company authorizing the establishment of a branch company in Ethiopia and the amount of capital allocated for the purpose. IV. Where the investment is to be made jointly between domestic and foreign investors: in addition to the documents stated under III above: * a photocopy of the identity card, or a photocopy of the identity card evidencing * the domestic investor status of the domestic investor, as the case may be. 1. The EIC may request a document evidencing the financial position or identity/profile of the investor, when it deems appropriate 2, All documents, whose sources are outside of Ethiopia, should be authenticated by foreign public notary, Ethiopian Embassy, Ministry of Foreign Affairs of Ethio- pia and domestic public notary 12ran ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa V. Application for Investment Permit for Expansion or Upgrading of an Existing Enterprise (a) Where the application is signed by an agent: (b) Where the investment is made by a sole proprietor: + a photocopy of his power of attorney +a photocopy of the relevant pages of his valid passport or an identity card of his domestic investor status, or + a photocopy of his identity card and his two recent passport-size photographs, as the case may be. (c) Where the investment is made by a business organization: a photocopy of the company’s memorandum and articles of associations a photocopy of a valid business license of the existing enterprise; and a photocopy of project feasibility study two recent passport- size photographs of the general manage Table 2: Taxation Principal Taxes Currently in Effect No Type of Taxes Rate 1 Corporate Income Tax 30% 2 Turn Over Tax 2% and 10% 3 Excise Tax 10%up to 100% 4 Customs Duties 0% up to 35% 5 Income Tax from Employment 0% up to 35% 6 Withholding Tax 2% 7 Value Added Tax(VAT) 15% Nil (with excep- 8 Export Tax tion of hides and skins-150%) 9 Royalty Tax 5% 10 Dividend Tax 10%ra ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Incentives 1. Customs Duty Exemption + 100% exemption from the payment of customs duty on imported capital goods and construction materials + Customs duty exemption of spare parts worth up to 15% of the total value of the capital goods imported Table 3: Areas of investment eligible for customs duty exemption (applicable to foreign investors) Beverage industry Textiles and textiles products industry Leather and leather products industry Wood products industry Paper and paper products industry Chemical and chemical products industry . Basic pharmaceutical products and pharmaceutical preparations industry Rubber and plastics products industry Other non-metallic mineral products industry k. Basic metal industry 1. Fabricated metal products industry m. Computer, electronic and optical products industry n, Electrical products industry o. Manufacturing of other equipment p. Machinery and equipment industry q. Vehicles, trailers, and semi trailer industry r. Manufacturing of office and household furniture s. Integrated manufacturing with agriculture BA b, Animal production c, Mixed (crop and animal) farming d. Forestry 3. ICT Poe meoangp esETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa 5. Hotel and tourism a. Star designated hotels (including resort hotels) and resort, motel, lodges and restaurant b. Tour operation of grade one c. Tour operation below grade one 6. Grade 1 construction contracting Cnr melel teeta reece mineral exploratior TOME Tm erent 4 a. Secondary and higher education by constructing own building b. Technical and vocational training service including sport ital services by constructing own building 9. Architectural and engineering works and related technical services, technical testing and analysis 10. Importation of LPG 2. Exemption from Income Tax A. Any investor who invests to establish a new enterprise shall be entitled to income tax exemption as specified in the following table. ‘The period of exemption from income tax begins from the commencement of date of production or provision of services by the investor. B. Any investor who invests in eligible areas to establish in regional states: * Gambella; + Benshangul/ Gumuz; + Afar (except in areas within 15 kilometers right and left of the Awash River)the regional state of Somali * Guji and Borena Zones (in Oromia regional state); * South Omo Zone, Segen (Derashe, Amaro, Konso and Burji) Area Peoples Zone, Bench-Maji Zone, Sheka Zone, Dawro Zone, Keffa Zone, Konta and Basketo Special Woredas (in Southern Nations, Nationalities and Peoples Regional state) 15ETHIOPIA; A Preferred Location for Foreign Direct Investment in Africa shall be entitled to an income tax deduction of 30% for three consecutive years after the expiry of the income tax exemption period specified in the following table. C. An investor who expands or upgrades his existing enterprise and increases in volume at least by 50 percent of its attainable production or service rendering capacity or a new production or service rendering line at least by 100 percent of an existing enterprise is entitled to the income tax exemption period specified in the following table. D. An investor who exports atleast 60 percent of his products or services or supplies atleast 60 percent of the same to an exporter as production or service input will be exempted from the payment of income tax for additional 2 years. 16ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Table 4: Areas of investment eligible for income tax exemption Addis Ababa and ial Zone o| Other Areas Areas of Investment Pon ei ‘Addis Ababa 1. Manufacturing 1. Food industry | LuptoSyears | 2 up to6 years 2. Beverage industry Tup to 3 years | 2 up to4 years 3. Textiles and textiles 2upto5 years | 3 up to 6 years products industry 4, Leather and leather Tupto5 years | 3 up to6 years products industry 5. Wood products industry) 2 years 2 years "6, Paper and paper Lup to 5 years | 2 up to 6 years products industry 7. Chemical and chemical | 2 up to 5 years | 3 up to 6 years products industry 8. Basic pharmaceutical products and 4and5 years | 5 and 6 years pharmaceutical preparations industry 9. Rubber and plastics land4years | 2and5 years products industry 10.Other non-metallic mineral products lupto4years | 2 upto5 years industry “11 Basic (excluding mining of 3 up to5 years | 1 up to6 years minerals) 12.Fabricated metal products industry land 3 years | 2and 4 years (excluding machinery and equipment) 13.Computer, electronic and optical products 2uptodyears | 3 up to5 years industry 14.Flectrical products 2and 4years | dand 5 years industry 15.Machinery and 5 years 2 years equipment industry 16. Vehicles, trailers, and 2upto5 years | 2 up to6 years semi trailer industry 17.Manufacturing of office and household furniture’ land4year | 2and 5 years (excluding those made of ceramic) 18.Manufacturing of other | equipment (jewelers and related articles, musical instruments, sports 1 year 2 years equipment, games and toys and similar products) 7ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa 19. Integrated manufactur-| 4 years | 5 years ing with agriculture 2. Agriculture i. Crop production 2and 3 years | 3and6 years Animal production | 2up to 3 years | 3.and 4 years iii. Mixed (crop and 3 years 4 years animal) farming ] iv. Forestr’ 8 years | 9 years 3. ICT 4 years S years 4, Generation, transmission and supply of electrical 4 years 5years energy 3. Export Incentives + With the exception of semi-processed hides and skins (export tax rate is 150%), no export tax is levied on export products of th country; - Any investor who exports or supplies to an exporter as production or service input at least 60% of his products or services shall be entitled to income tax exemption for 2 years in addition to the exemption period provided under Table 4 above. + Duty Draw- back Scheme: duty paid at the port of entry and locally, on raw materials used in the production of commodities is refunded, 100 percent, upon the exportation of the processed commodity. + Voucher System: A voucher book is a printed document to be used for recording balance of duty payable on raw materials imported for use in the production of goods for external market. ‘The beneficiaries of the voucher scheme are also exporters. + Bonded Factory and = Manufacturing Warehouse: Producers wholly engaged in ex- porting their products who are not eligible to use the Voucher Scheme can have license that enables them to operate such Warehouse. 4. Loss carry forward An investor who has incurred loss within the income tax exemption period shall be allowed to carry forward such loss, after the expiry of such period, for half of the income tax exemption period. For the purpose of calculating the period of loss carry 18rau | ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa forward, a half-year period shall be considered as a full income tax period. Any investor who has incurred loss during the income tax exemption period may not be allowed to carry forward such loss for more than five income tax period. Areas of Investment Exclusively Reserved for 10. Ale . Manufacture of clay and cement products 13. 12. 14. 15, 16. 17. Domestic Investors . Export of raw coffee, chat, oil seeds, pulses, precious minerals, natural forestry products, hides and skins bought from the market, and live sheep, goats, camel, equines and cattle not raised by the investor Import trade (excluding LPG and bitumen); . Wholesale trade (excluding supply of petroleum . and its by-products as well as wholesale trade by foreign investors of their locally produced products) Hotels other than those star designated, motels, . pensions, tea rooms, coffee shops, bars night clubs and restaurants excluding international and specialized restaurants . Tour operation below grade 1 . Travel agency, trade auxiliary and inland water transport services . Tanning of hides and skins below finished level . Finishing of fabrics, yarn, warp and weft, apparel and other textile products by bleaching, dyeing, shrinking, sanforizing, mercerizing or dressing . Construction, water well drilling and mining exploration companies below Grade 1 Manufacturing of ice créme and cakes Manufacture of cement Kindergarten, elementary and junior secondary education Diagnostic center services Clinical services Capital goods leasing; and Printing industries. Areas of Investment Exclusively Reserved for 1. 2. Ethiopian Nationals Banking, insurance and micro credit and saving services Packaging, forwarding and shipping agency services 19ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa 3. Broadcasting services; 4. Air transport services using aircraft with a seating capacity of up to 50 passengers . Advertisement, promotion and translation works; . Attorney and legal consultancy services; . Preparation of indigenous traditional medicines; 8. Mass media services. Areas of Investment Exclusively Reserved for the Naw Government 1. Transmission and supply of electrical energy through the Integrated National Grid System 2. Postal services with exception of courier services; and 3. Air transport services with a seating capacity of more than 50 passengers. Areas of Investment Exclusively Reserved for Joint Investment with the Government 1. Manufacturing of weapons and ammunition; and 2. Telecommunication services 20ran ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa CLIENT CHARTER No ‘Type of Services Delivery Time Fee/ Birr Trade or Firm Name 1 Registration of trade or firm name L hours 25 Amendment/ change of trade or 2 firm name L hours 80 Replacement or substitution of 3 trade or firm name Lhour 50 ‘Tax Identification Number (TIN) Issuance of tax identification 4 number 2 hours Free of Memorandum and Articles of charge association Notarization of memorandum and 5 Articles of association S hours 652 Amendment change of memoran- 6 dum and articles of association 3 hours 160 Commercial Registration 7 Issuance of commercial registration 3 hours 100 8 Renewal of commercial registration 2 hours 100 Amendment/ change of commercial 9 registration 3 hours 80 Replacement or substitution of 10 commercial registration L hour 50 Cancellation of commercial registration Sworkingdays 50 11 Investment Permit Issuance of investment permit ‘New investment 3 hours 600 12 Expansion investment 18 working days 300 Renewal of investment permit New investment 2workingdays 200 13 Expansion investment 13 days 100 Amendment/ change of investment 14 permit 3 hours 100 Replacement or substitution of 15 investment permit 1 hour 100 Cancellation of investment permit Free of 16 Business License Sworking days charge Issuance of business license 17 Work Permit 10 working days 100 18 Issuance of work permit 2 hours 1700 19 Renewal of work permit \ hour 1300 20 Replacement or substitution of work permit 1 hour 1000 21 Cancellation of work permit Free of 2 hours charge 22 Registration of technology transfer agreement Shours 200 Registration of domestic investor and foreign investor export-oriented 23 non- equity based collaboration 2 hours 100 agreements Registration of capital investment 24 brought in to the country by foreign I day Free of investors charge 25 Grading of construction contractors 3 workingdays 5000 Allowing exemption of capital Free of 26 goods and construction materials 2workingdays charge from customs duty 21ral) ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Sources for further information Ethiopian Investment Commission Addis Ababa P.O. Box 2313 Tel: +251-11-551 0033 Fax: +251-11-551 4396 E-mail: ethiopian. invest@ethionet.et Web Site: www.eia.gov.et Public sector Ministry of Trade Addis Ababa P.O. Box 704 Tel: +251-11-551 8025 Fax:t+ 251-11-551 5411 Ministry of Industry Addis Ababa P.O, Box 5641 Tel: +251-11-551 8025-29 Fax:+ 251-11-551 4288 Ministry of Finance & Economic Development Addis Ababa P.O. Box 1905 Tel: +251-11-155 2400 Fax: +251-11-156 0124 Ethiopian Revenue and Customs Authority Addis Ababa P.O, Box 2559 Tel: +251-11-466 7666 Fax:+ 251-11-466 8244 E-mail: erca@ethionet.et Central Statistical Agency Addis Ababa P.O, Box 1143 Tel: 251-11-155 3011 Fax: 251-11-155 0334 E-mail: csa@ethionet.et Ministry of Mines Addis Ababa P.O. Box 486 Tel: +251-11-646 3166 Fax: +251-11-646 3364 E-mail: information@mom.gov.et Ministry of Culture and Tourism Addis Ababa P.O, Box 1907 Tel: +251-11-515 6711 Fax: + 251-11-551 2889 E-mail:tour -com@ethionet.et Ministry of Foreign Affairs Addis Ababa P.O. Box 393 Tel: +251-11-551 7345 Fax: +251-11-551 4300/ 551 1244 E-mail: mfa.addis@telecom.net.et Ministry of Agriculture Addis Ababa P.O. Box 62347 Tel:+ 251-11-551 8040/ 551 7354 Fax:+251-11-551 1543 E-mail: vmoasc@ethionet.et Ministry of Labor & Social Affairs Addis Ababa P.O, Box 2056 Tel: +251-11-551 7080 Fax: +251-11-551 8396 E-mail: molsa.comt@ethionet.et Ethiopian Telecommunication Corporation Addis Ababa P.O. Box 1047 Tel: 251-11-551 0500 Fax: 251-11-551 5777 E-mail: etc:.commun@ethionet.et 22ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa Ethiopian Privatization and Public National Bank of Ethiopia Enterprise Supervising Agency Addis Ababa Addis Ababa P.O. Box 5550 P.O. Box: 517 Tel: +251-11-551 7430 Tel: +251-11-552 1834 Fax; +251-1-551 4588 Fax: +251-11-551 3955 E-mail: nbe.excd@ethionet.et E-mail: pesa.et@ethionet.et Ethiopian Horticulture Producer Ethiopian Leather Industries Exporters Association (EHPEA) Association (ELIA) P.O. Box P.O. Box 12898 Tel: 251-11-663 6750/663 6751 Tel: +251-11-515 6144 Fax: 251-11-663 6753 Fax: +251-11-550 8935 E-mail: ehpea@ethionet.et E-mail: elia@elia.org.et Environmental Protection Ethiopian Electrical Power Authority Corporation Addis Ababa Addis Ababa P.O. Box 12760 P.O. Box 1233 Tel; +251-11-646 5007 Tel: 251-11-155 0811 Fax: +251-11-646 4882 Fax: 251-11-155 2345 E-mail: esid@ethionetet E-mail: eelpa@ethionet.et Private sector Ethiopian Chamber of Commerce and Sectoral Associations Addis Ababa P.O. Box 517 Tel: 251-11-551 8240 Fax: 251-11-551 7699 E-mail; etchamb@ethionet.et Addis Ababa Chamber of Commerce and Sectoral Associations P.O. Box 2458 Tek 251-11-552 8120 Fax: 251-11-551 1479 E-mail: aachamber1 @ethionet.et 23ETHIOPIA: A Preferred Location for Foreign Direct Investment in Africa List of Banks in Ethiopia Awash International Bank Commercial Bank of Ethiopia Development Bank of Ethiopia Construction and Business Bank Dashen Bank Wegagen Bank Bank of Abyssinia United Bank Nib International Bank 10. Cooperative Bank of Oromia 11. Lion International Bank 12. Zemen Bank 13. Oromia International Bank 14. Bunna International Bank 15. Berhan International Bank 16. Abay Bank S.C 17. Addis Intemational Bank S.C 18. Debub Global Bank S.C 19. Enat Bank S.C List of Insurance companies in Ethiopia Africa Insurance Company S.C Awash Insurance Company S.C Global Insurance Company S.C. Lion Insurance Company S.C NIB Insurance Company Nile Insurance Company S.C Nyala Insurance Company S.C The United Insurance S.C 9. Ethiopian Insurance Corporation 10. Abay Insurance Company 11. Berhan Insurance S.C. 12. National Insurance Company of Ethiopia S.C. 13. Oromia Insurance Company S.C. 14, Ethio-Life and General Insurance S.C. 15. Tsehay Insurance S.C. CONons wo DPNOOrRanN = 24Vision “To see Ethiopia as one of the leading investment destination countries in Africa in 2023” Mission “To enhance investment in the country by promoting investment opportunities through creating conducive investment climate and providing efficient services to investors so as to bring rapid and sustainable economic development in the country. Values » We strive for the successs of the development inves- tors; > We are ready at all times to learn and change; > We are implement efficient and coordinated management; » We stand for environmental safety and care;INVEST IN ETHIOPIA Ethiopian Investment Commission P.O. Box 2313 Tel: +251-11-551 00 33 Fax: +251-11-551 43 96 E-mail: ethiopian.invest@ethionet.et www.eia.gov.et Addis Ababa, Ethiopia