Ethiopia provides the following guarantees to foreign investors:
Repatriation of Capital and Profits
Capital repatriation and remittance of dividends and interest is guaranteed to foreign investors under the Investment Proclamation. Any foreign investor has the right, in respect of an approved investment, to make the following remittances out of Ethiopia in convertible currency at the prevailing exchange rate on the date of remittance:
The constitution of the Federal Democratic Republic of Ethiopia protects private property. The Investment Proclamation also provides investment guarantee against measures of expropriation and nationalization that may only occur for public interest and in compliance with the requirement of the law. Where such expropriations are made, the Government guarantees to provide adequate compensation corresponding to the prevailing market value of property and such payment shall be effected promptly.
Ethiopia is a member of the World Bank-affiliated Multilateral
Investment Guarantee Agency (MIGA) which issues guarantees against non-commercial
risks to enterprises that invest in signatory countries. Ethiopia is currently
concluding bilateral investment promotion and protection agreements with
a number of developed and developing countries, and it is ready to conclude
such treaties with any country at any time. Ethiopia has also signed the
World Bank treaty, “the International Convention on Settlement of
Investment Disputes between States and Nationals of other States (ICSID)”.
© 2007 Permanent Mission of Ethiopia, Geneva. All Rights Reserved.
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Last updated 23-01-07 11:30 CEF DST