The Ethiopian Investment Commission (EIC) is an autonomous government institution accountable to the country’s Investment Board, which is chaired by the Prime Minister. A Commissioner, who is also member of the Board, heads the EIC.
The EIC has restructured itself recently with a view to becoming more effective at attracting FDI and improving the services provided to investors.
The main services provided by EIC include:
- Promoting the country’s investment opportunities and conditions to foreign and domestic investors;
- Issuing investment permits, business licenses and construction permits;
- Notarizing memorandum and articles of association and amendments;
- Issuing commercial registration certificates as well as renewals, amendments, replacements or cancellations;
- Effecting registration of trade or firm name and amendment, as well as replacements or cancellations;
- Issuing work permits, including renewals, replacements, suspensions or cancellations;
- Grading first grade construction contractors;
- Registering technology transfer agreements and export-oriented non-equity-based foreign enterprise collaborations with domestic investors;
- Negotiating and, upon government approval, signing bilateral investment promotion and protection treaties with other countries; and
- Advising the government on policy measures needed to create an attractive investment climate for investors.
In addition, the EIC provides the following free, confidential and customized services to investors:
- Provision, through our website, various publications, or through direct response to investor’s inquiries, of information on sector-specific business opportunities, business incorporation procedures and related regulations, employment regulations.
- Hand-holding and supporting the investor during the acquisition of land and utilities (water, electrical power and telecom services); the processing of loans and residence permit applications; the approval of environmental impact assessments studies for investment projects; and the issuance of a tax identification number (TIN).