Investment Regulation No. 474/2020

2. Definitions WATY (0P C In this Regulation, unless the context otherwise requires: e2A AN AA TCRIS PO eOAmar mLy £750 o-ar: 1/ "Proclamation” means the Investment Proclamation No. b/ “hPE 10T PRGNS WPR 1180/2020: o 2/ Other words and phrases in this Regulation shall haye @ my &30 oar LA ANT PAT AT METT the definition ussignéd to them in the Proclamation OAPE. CLONTad TC19° LA _hea yat INVESTMENT AREAS PAYAN Tt oodhF

3. Investment Areas Reserved for Joint Investment with E.hoo 320 2C 0¥3ET fhS o the Government AJanTee 4T @y Eage QDAY 9L FAT AT a0yl anb Any investor may invest in the following investment arcas T VO (2P LT o | only jomtly with the Government T % B LUGTA: B emC amALePAh: PLATE NG AMC AT I Manufacturing of weapons. ammunition and explosives POC anNLe Aoy ll LN used as weapons or to make weapons: PP @LY° 19l g < LRI LA OF KIC G0 T KNG 0 | 2 Import and export of electrical energy; © O PRART e andl): 3/ International air transport services. i/ GARDE CALC TEINZTCA NIAINT B/ 4y Lo 1 TEINTC 4; Bus rapid transit: and B &My P20 WIANTTE ALatC o 2T 5/ Postal services excluding courier services AN TAZEEE 12763 w LELA 12T 20 RTC ER v BF 3 ENTE 99 Federal Negarit Gazette No.78. Sepetember 272020 ... page

8. ANIC odP QAT P-+hAN PR ITNT T 0dbT 4. Investment Areas Reserved for Domestic Investors ‘Perhrar PATINT o)) ambT (AIC o0 The following investment areas are exclusively reserved for AWUAT F Perhrs. Lrsa: domestic investors: s/ AN e w7 CERITI0- AL Ea0P P 1/ Subject to applicable law, banking, insurance and AT PNLHIA 0P SLSIN L ALMIC: microfinance businesses, excluding capital goods PO PAITCIN: NG RIOIT P4L5HN finance business; #24-P 17 0L L1 PAhLR PG-PS wOawCT PhANICH 2/ Transmission and distribution of electrical energy DELN INTANS: RS Thé-L.A: through integrated national grid system; i PamEanl e NG ahWAT PUNYT AIADNFT-: 3/ Primary and middle level health services; 8/ VAR AT PISE PCETT DAl AIPEL o 4/ Wholesale trade, petroleum ,petroleum products, Phavlls P PCT OB wiie: NG wholesale of own products produced in Ethiopia; AANTCLN 3L ALATC PEIA 1% excluding wholesale of electronic commerce AN 0@ W2 R T1ar avrl A h Ak e 5/ Retail trade, excluding. retail of and electronic 0T Plomld Pen FCT NTCFE wiied AG commerce as provided under appropriate law, of own RARTCTRh FIRT ALMIEC PTCFC Pk products produced in Ethiopia; % 022U XS (Lkeowyy ALMIC UL 3L 6/ -y TImport trade, excluding liquefied petroleum gas and bitumen; Kz Tl (K5 41t PPAT AVA: TETob: “70L51: 7/ Export trade of raw. coffee, khat, oil seeds, pulses, 4 NS Ami PEATE 3 o-mETi ACT AT minerals, hides and skins, products of natural forest, LOP-WNETE e WOFTF hg Nawepd- chicken, and livestock including pack animals bought PamAh waqn, 1L on the market; ®/ NRLE & O2T ey ehINTENTT RS PhéC 8 Construction and drilling services below Grade I; . RIAT: i POl RCE PATOY ALMIC PU-EAT PO 9/ Hotel, lodge, resort, motel, guesthouse, and pension PERCAT PEAT PAINA TVLLE NG PEIOCT L services, excluding those that are star-designated; A1ADAT-5 i I Pootr AIC ALho® M) Py LbCAl PhIM) 2LF 10/ Restaurant, tearoom, coffee shops, bars, nightclubs, and L0 CLNFLIT RIAWCTT ALMIC catering services, excluding star-designated = national PLNt&HT PAL-0A: POFG-01: Ponm-0T: cuisine restaurant service; PRAT-RON RS 0 P9 ("heb837") AN AT 12764 e ZECA 126 Dm RTC EE bhd KT 4 ERIE 95 Federal, Negarit, Gazetie. No.78, Sepetember 2™ 2020 ... page e 804 11/ Travel agency. travel ticket sales and trade auxiliary Th/ e ol PR TR Ner RS PN services; AN Tour operation; T8/ PUINAAT Y RIADNT and RSN LN DAL a1 P Operating lease of equipments, machineries T AT heavy vehicles, excluding industry-specific WAeTY AG AR FThChEPT ALCC equipments, machineries and specialized vehicles; e ePT: VAGT ARG AAWCheP T PomeeT A0 ALALICC PTEINZCAL 14/ Transport services, excluding the following areas: 6 eerhady endbT AN V) LANC TEINZCA: a) Railway transport; b) Cable-car transport; a) PhAlA oG 1eIN7CA ¢) Cold-chain transport; &) PHARTELS T&H77CT: d) Freight transport having a capacity of more than 25 ) h #F0Ag PovenTy ABYS LAar Yl tones; and 330 RS hew el @90 MRG0T T oC ¢) Transport services reserved for joint investment with w) WISRLS O PrART PTEINZCA the Government or domestic investors; (Iog MA"M«-PF: X TE WIC-PA AR om &5 SN 15/ Making indigenous traditional medicines; T/ ARIC ard AL POLPCH LA ARG Phi PoCHT 16/ Producing bakery products and pastries for domestic AOEA market: i Pwae 0 AIAINT: 17/ Grinding mills. PRIC “INFMDA NG PRIEG AdT RIAINFT 18/ Barbershop and beauty salon services, smithery, and CRIPLAYY et RS (&G RLE - eUIpNLL tailoring except by garment factories; eAANN D& PROCTAGT P15 AT OLATT o€ PTIT AT 19/ Maintenance and repair services, including aircraft AISOTC ing POCAT RIAINCT T PheEEE maintenance repair and overhaul (MRO), but exclud ARG PUNgeS wAsePT 1T AT repair and maintenance of heavy industry machineries WAPT and medical equipment; BLATT ALY R OR@-CTAY 1442 0D A“LPo Ao CTATT 29/ Aircraft ground handling and other related services. Poyam ATEU9° AN FLLAr RIAIFT THAZERE 12765 " LEEA D26 UM #1C BF v B ¢ KALIE 9 Federal Negarit Gazette No.78, Sepetember 2" 2020 ... page A8/ Al PawimP ol PNOA i RS 21/ Saw milling, timber manufacturing, and assembling of LATMGT PR PRIRT oM AT Pov1NMy® 126 semi-finished wood products; RE/ Poo1ST AMDT RN 22) Media services; AE P10 ANTFAALYT AIAINT: 23/Customs clearance service; A0/ A0 AG meAl 7924+ 24/ Brick and block manufacturing; A% eha L7320 T 25/ Quarrying; RE PA1E NG PAZCA a-CCL 19T 26/ Lottery and sports betting; 27/ Laundry services, excluding those provided on industrial REUORILAVECLA ooy PoUNL5TT ALRYSC scale; PAAN TRVT emhss RN 28/ Translation and secretarial services; RE) PTCHY° AT PRVAT RIADAT 29/ Security services; R LPOP RINWT: 30/ Brokerage services; @i PLAA 2P @a/ PPNPT AT P2 “7°TMC AIAWMT: AT 31/ Attorney and legal consultancy services; and @i}/ NGerEF PNCS bard A RIS VNPShEE AP 32/ Private employment agency services, excluding such AT e TONC PmLE wCUNTFTT AT AT services for the employment of seafarers and other rawddg oo @b FTY e IC 0 PUISTT similar professionals that require high expertise and AANT ALBIC PIN 126 AT wetT international experience and network. LTV RIAT =

5. Investment Areas Reserved for Joint Investment with Domestic and Foreign Investors B Faye foe QAN NethebA: 1/ Any foreign investor may invest in the . following CAFINT w3 owdbT MAIC a-OT QAU investment areas only jointly with a domestic investor: 2C AF (PIEY mwe LTAN a) Freight forwarding and shipping agency services; U) 0F PTFANG NS PemChl o-hAS RN b) Domestic air transport service; Q) PAIC @OT PAPC I CT RIANT d) hOHE AL onpomen, QAFar hartAOT ¢) Cross-country public transport service using buses with PUAT WIC-ARE PR “PemAAT RIADNT a seating capacity of more than 45 passengers; 12766 RTRA RS " LLLA DI D0 G @E b R P ETR 9 Federal Negarit Gazette: No.78. Sepeteniber 2 2020 . page av) NGE Pamen’s Zpy9° Lo PHAT a0 T LAl d) Urban mass transport service with large carrying T2 CT RN capacity; w) PN adl RS CTCTTY WA €) Advertisement and promotion services: &) PEPR-0PAN AN ATTPAP T AN AG f) Audiovisual services: motion picture and video WAE owPlRs “19°01 AG “Thé-d.n: AG recording, production and distribution; and Q) PLAN AG AL 4GP g) Accounting and Auditing services. €y AR HQ-RIPR () (NN 2/ A foreign investor jointly investing with a domestic (23 1 & e & S HE SR Y hA1C o0r investor in areas listed under Sub-Article (1) of this Article shall not hold more than 49% of the share capital of the QAN € NPT Porwell. Caelr QAU enterprisc. NECEE ASor PoUTam P A £CH W Fii Navt ANAT ALTAP:

6.Investment Areas Open to Foreign Investors i. A@-P AWALT hET PP PAIANTordt eodbT Investment arcas not listed under Articles 3. 4 and 5 Y &30 (A PE 8 AG Z WFNdns1 oo eA- herein are open to foreign investors. CRTAOT v} Lo}O S Y aavNT Nl < G ar: PART THREE nEea roatr INVESTMENT PERMIT, ACQUISITION OF EXISTING PATANT YT 4PL PINC LCET L AT ENTERPRISE AND TRANSFER OF INVESTMEN 020 AL PA A FANTooT PROJECT UNDER IMPLEMENTATION © TCERT TntAnE Z. MAIC o0 AU0F PIPCAl PATFANYTomdE 7. Application for Investment Permit by a Domestic and L2L 7oL Foreign Toreign Investor Investor Va9 PAIC @0 QAU PRIFIOT T In order to obtain investment permit. any domestic investor &FL AT ALY ANC PHIDET PRUG must fill out a paper-based or ealine zpplication form and WL CRANTCLR “YwAhF PR (lemao-A-] submit same to the appropriate imvestment organ heghebad. 12T 2C AT Adar accompanied by the following documents: CATANT w3 a0l M- “PPLA RANT: B/ MewprhFao- ePilar NohA WY CHIP a-DAT 1/ Where the application i filed by an agent, a copy of VT U e Pk L VT 2 valid authorization document; g KA eyl eerhifo- (17000 Wy £2a00- 2/ Where the investment is to be made by a sole pamyode WCEL PR 0fy90 PhIC a7 proprietor, a copy of the individual's identity card or an AW T PULeaT en)adf WCR identity card or other documents bestowing a domestic @p ANT ATRT PR RS 0aT PRCA investor status, and two recent passport photo size U PITAZCA 68 vy PATor EoFVEETT: photographs; 1=t 12767 3 LBl 12T DU RVC EX Vb BT P E 9.9 Federal Negarit Gazette No.78, Sepetember 2 2020 ... page Bl R0t ooyl eoyhygar (39 “90C Uy 3/ Where the investment is to be made by a business VL TNNG Pomam ol T Rz Pame 884 ¢ organization, a copy of its. memorandum of association L AT PFIL W PANC wlbr PE: and Articles = of Association and commercial OLI REQ CRRRIC UL QNG Py kP registration certificate; or where the business CEIE NG organization is to be newly Pamem ol T ;(.:r'.: AT established, draft memorandum ofassocialion and articles of association, B0 0 - &H PALIAIS PONCET acopy of each shareholder's identity card or identity aake WCE PR 0L PAIC oar card or other documents bestowing a domestic investor AW w1 PoeaT v ade hee status, and two recent passport photo size photographs [ OL ANT AYRT PE: AT P38 004 of'the gencral manager;. PG e ROWLE VAT CPCA UL £I°02°C 6t vy PATo- 6R6T L7 W 110 R B P R VA T (P T Y% S N 4/ Where the investment is to be made by a public LCET 0Ly w3 md RGN NCE enterprise or project company established . under A2CYT NRR9° TCENT public-private partnership, a copy of the regulation or WY SCEE 0L decision by which it was established or a copy of its PTCERT WaGear PrRRem(l 31 Memorandum of Association and - Articles of WL Ay PR @LY° Pamam ol F RS AG Association; P RRLE L3 PR & RHINT oyl eoryfa WAL o6 “JNC .5/ Where the investment is to be made by a cooperative WP P0G P BREL £IN PEx society, a copy of its articles of association.

8.Application for Investment Permit by a_Foreign . No-p L PCAO_PAIANTIE 228 Investor TR 1//In order 1o obtain investment permit, any B OvEEarge Vol QAU PAFTOY00 foreign investor must fill out a paper-based or online | 4T AT ANY- A0 P ENOE0Y application form and submit same to the PRUG @RI PAANITCLR “FawahF i Commission accompanied . by the following lemoo-a: heghbad Av2F ¢ abeyin documents: DPLAl RO V) “emAhFe- ePilar MohA WPy HoP a) Where the application is-filed by an agent, PONAG /20Ny L1 Qe PR a copy of a valid authorization document; Q) AFA0Tenyl: perhyge- 09000 hry b) Where the investment is to be made by a AT Tl POreLIIm AT sole proprietor, a copy of bio-pages of a PATar PRG I02°CT 18T PE AT 0 valid passport showing his identity and CPCA UL LIOZCYT G e PATFar two recent passport photo size [ & P photographs; 12768 v, L s Federal Negarit Gazetie No.T8. Sepetember 2™ 2020 .. page S e ) WIE Sarelr QO andmG P40 @f0F ¢) Where the investment is to be made by an Ethiopian WY national . permanently. residing abroad who prefers Yperl Qo RIC 0T AACRCL (reatment as a forcign investor, a copy of document (1 Parer WIC TPE @l PULINR cvidencing his permanent residence abroad and two e PE ARG AT PRCA UL LIZCT recent passport photo size photographs: Ct oy PAT O GG d) Where the investment is to be made by a business AR [TV AT N B oF S U o6 o av) organization to be incorporated in Ethiopia: Nogdkye 3L “WOC Iry:- (B) it €3I PG e g A RS (1) Draft Memorandum of Association and Articles of ol SRLE L PRLTISISTT RN Association of the busincss organization, a copy of e WA TR enedo lar bio-pages of a valid passport of each sharcholder CATm CRG OZCL AT PR showing his identity. and two recent passport photo AP NG e AOLLR AT size photographs of the general manager of the NG PEUL emay AT business organization: PRCAN UL CIAZCA G R NP the business organization has a foreign (&) pe U4 ardr AL W0 (2) Where anfmC. COLTEA - Paredr 1L WA national member who can be considered a domestic QAU NCE 0LY AA \vestor. a copy of an identity card or other relevant COFE P eap. e e document establishing such status: A0 Lam 0L PE: (3) Where there is a business organization in the () 3 g ardr PEILCINC nia business organization, a copy of' its Memorandum e MG CamanelF O Rdes WG of Association and Articles of Association or Pav-l-BRLE EH @y lemdag document, commercial Similar constitutive Pombdoy e Ay PR e o0 registration certificate and a copy of minutes of oane ol RGPS erae 1is resolution passed by authorized organ of the parent sonary Ao AMA AR E 00T " business organization resolving to engage in RS T R e S e A4 investment activity in Ethiopia. Pyl Pa-10%h PR 2 2 I A AL T L (11reLon ¢) Where the investment is to be made: by an Ethiop ian FP O 0 110 abroad: P NG AR L PO - branch of a business organization incorporated LELA 1 e e (%) PG 3% apyneg. Pamam ping; Federal Negarit Gavene No, 78. Sep etember 2" 2020 12769 page (1) A copy Peml-58e0 gy of Memorandum of Association gy Temagg, and Artticles of Associations PankRere ave 37 e or similar - constitutive L e document as well EF0L om0 pgoan: Wl PE: as commercial registration certificate of the par ent business organizat (%) CPCIomG yug. AONEE Cl ion; dam)l gye PEAG e A copy of document an AT 02 attesting appointment g of the branch manager and Nt AT w g his two recent passpo rt photo ABG09° ¢g size photographs, ANCRy and a copy of' bio-pa ey PULREDIM ges of a A1y valid passport or identi LATw ty card of the manager; 026G gy T PE mpye Pemdade A copy of minutes of hee P resolution of the author ized organ of the parent bus PPT P g pepayy iness organization res olving LAm- wha to establish a branch X5 0P N30 business organization in ey yZ Lthiopia; L o O I Pa-ray, Py ) NIR ROLAYE by iy AL faavy ) Document evidencing the financial PEL5I0 position or profile of hdge WL WYL the poy eap investor, when deemed appropriate “INEE = by the Commission, &/ MO R3bE 30-0-15pge (8) edmep( PVhem- DACRE meep pypy,. LT 2/ Décuments under Sub-Article Ay L 2% U (1) of this Article originating UNNE QA from outside of Ethiop o WG eaac @A ia must be authentic pha ated forcign by EINP and domestic bodies aut AN horized 1o authenticate documents. A704. 4. Y ATYAqN = PoRPCQ PAINN w3 g P o 9.Application for Investment TLE Expansion or Upgrading “UrE ey Permit 0ap0- FAHINTany ) wyng.4. 0 wg.ye AAGe g pe A“TVET In order 10 obtain investment Ao e CroEay eXpansion or upgrad ing PR permit, any.investor weye CRANTCLN must fill oyt a4 paper-based o gz PR online application or lmam-A1- Yoy 149 N1LT ¢ *form and submit same qqy- A dppropriate 1o the CRAINT w30 ampgp investment organ accompanied (9. “APEA AN following documents;: by the LY N Y o Noha nyy P farhng LN Y 17 Where the applicati pony, N1 PE: g on is filed by an agent, a copy of valid authorization do & eaav-n-: L cument; and N ey gar 3L e ey g “I005. g 2/ Two recent passport photo size photographs hah ep (R To] of the UL v erazca. investor 6F or, where the investment My AT a- [ SP s made by a business organization, the general manager, Gazetie No.T8. Sepetcinber 2" 2020 page LBlod IDET WM BTC ER SO Investment Permit Issuance and Usage eAANTo0YT 4L RAONT AT haPdP 10. o 1/ Upon receipt of an application made in accordance a/ AT PA@ CAFIOT a3 av0l e with Articles 7. 8 or 9 of this Regulation. the CRIN T a0 4P MewADF LD R appropriate investment organ shall, after AR wpye i ewld AN examining the proposed nvestment activity of the APCANAT naav-Ark ahLe e Rar’y investor in light of the Proclamation, this CRFUNT a3 s DAPE: Dy L7 A Regulation and other applicable laws: AT halto- AaT EN T NIAC (lemanCan(C: a) Where it approves the application, issue V) “emAhFary HE R YOS EXLUN A investment permit to the applicant or AhosAWE @f9° ANAVAE PRI avs ] investor right away: or 4.3 LOANA: 09 Q) WawphFos WAPOAer LAPOANTS b) Where it rejects the application. notify the 9oLl P ekar hPLNOT 75 PP hao- applicant or investor in writing of the 3 e O (i) eere S arar reason for the rcjection within three (3) Ahan AW LI anav-ArE A4 working days from the date following the LA PN date of application. AT LAar PRIFGOTewIl vl 0T The appropriatc investment organ shall, after ehFINTasl 4PST hom %A issuing the investment permit, notity concerned ARDLAL®: DTN oy Peranmdh) ee0G e institutions for necessary follow up. AT LA PAz PAFIN T3 4P P lrOmor aavn 3/ A holder of an investment permit may not be AmGE L required to obtain a business license until the PRIy YEEWET LIb commencement ol production or rendering of WLY° AT o ls AONULEYCCOT service upon completion of the project.. The Lan it a2 7me PR L ArL.eon investment permit must, however. be renewed hemebee: PG (APE WIPR s - every year as provided under Article 11 Sub- ArPR (8) FRIT0" awl e PR AN el Article (1) of the Proclamation 4P8 (IWhawl: av)- &0 LTCOIA= 4/ An investment permit may not be transferred AT a0 CRFANTaTl aonlf O a/ without prior written approval of the appropriate (RD6 ALLPE CRIINTowI 4LPLTd investment organ OTFANG: ALTFAT &l CAFINT eI AP AnA Aer OCFANG 5/ Where an investment permit is transferred 1o its wgge NLIE AL AXT AeomT ARLE another person or where any change is made to AAe- CRFIOT e el f o content: it shall be submitted to the appropriate AT investment organ for approval. PCO mgb L RANT THAAEER 12771 "w LBLoB 1ILT DU RTC EE 00 BT Y E Federal Negarit Gazette No.78. Sepetember 2™ 2020 .. page I5. £90C SCET NG 11. Acquisition of Existing Enterprise B/ 90C LCEVT of PG LCETT A0 1/ A foreign investor seeking to buy an existing AP PULLAT Carelr QAT T LR enterprise or a share thereof must submit a paper- based or online application to the Commission. AhUA &S 0L RANTCLR “ondhF NPl RANT = # b (Y ATPR TON-RIPR (B) ool 2/ The Commission, in reviewing an application filed PULPCNATT TLE Aemah T QAU PULDIO- in accordance with Sub-Article (1) of this Article, must ascertain that the enterprise is engaged in PG SCET oL AALSTT MR AQA investment areas open to foreign investors, and that PPN UWNC CFEOLNT PATINTem the minimum capital requirement provided in the o) Ao-el QAU PA-Thaha oy Proclamation and other requirements laid down ATB09° MATE. e-ltavplrbar ¢NPTE WA under the Commercial Registration and Business @} ) AT (I LUN AT LI Licensing Proclamation and other applicable laws APE AS AN QATe- AN AT are met. elemplil: IR PT QA0 U1 AANT = i/ My AR H0-RAFPR O (8) eERY10- 3/ Subject to the provision of Slib-Article (2) of this Article, a foreign investor applying to buy an ARt UG 090G LCET oLy 20 1 “existing enterprise or a share thereof must adduce LCETY AT Ao P PO Lampl Porel the necessary clearance from the Ministry of Trade QAN NIL AT RTISNTE “rnnEC and Industry and the Ministry of Revenues. 2 A 2T “LL0EC hNd.A0-7 OGN TVPLAL LSCNI A= 4/ The Commission shall, after examining the request in accordance with Sub-Articles (2) and (3) of this 8/ hey e MY RFPR HO0-AFPR (E) RS () Article: wow s e hFary lemanCon(: a) Where it approves the application, replace V) “YemahFort WebPlde- PEIL ol the business license or register the share 45 04.Lot LA @f9° PRIOET transfer right away; or Narar$"y LemllVN: 0 L9° A) Pehay 0 hAPOAG LATPOANTY b) Where it rejects the application, notify the PHEeT ANAVAE PeRar WPLN0T Y “investor in writing of the reason for the @pae hao 3 FYeC 0yad (i) P rejection within three (3) working days from the date following the date of application. PGV P R0 LAm- P €% LRLA 1L DU RVC ET Y BE 4 ENTE g0 Federal Negarit Gazette No.78. Scpetember 2 2020 puge I8.0190s A2 ¢937% eAFANTooIT__TCERT 12. Transfer of Investment Project Unde, ANtAAE Implementation B 1N e LI WMl (141 01904 Ap, I/Any investor who wishes to transfer to another CUE ) PAFINT Il YEEREY aAA investor an investment project under WA QOTANE PULLAT VI 9o AV implementation for which a business license is not PLLOT A AN PAFIO I avige yet issued must obtain the approval of the appropriate investment organ by submitting a (1% S| P O WL (hAITCLH amphF paper-based or online application MBEA DOLAL MO0 & QAUAE CATIOT o0 TEEREY AT01A0G: 2 The investor shall, together with application for NePCOD- “FemADF IC PoUNEATS AT approval of the transfer of an investment project, ALLN “VPPLA AAOT: submit the following documents: V) PRA PATUOT w3 4P PR a) A copy of renewed investment permit; Q) NWLTG Pemon) ARG PeRL 00 b) A copy of sale agreement registered with notary AN Qdar KW Pleml P pepr public; and APyl PR ¢) Where land was received for the project. a ) ATCERE: U04R9%¢ 0AM P-Zhllar copy of document showing that the land is oA MO onlocl: ATICr CLFANLNT A2L transferred to the buyer. PE= [ T K | B VR NG 1T & DG B anse 0 3/ The appropriate investment organ, afier examuning the PPlNy “JamAWF (laman(on(:: application, shall: V) PevahFary hena CrEEhT a) Where it accepts the application, approve AOTANST 08, Lt LAPEAA: the project transfer right away; Q) “VemdhFary Wa-kPNao ea-PIANTS b) Where it rejects the application. noufy PR the 9N e ANNVAE “FemADFar investor in writin of gits decision for the hee0nd 3 drte hao- 3 By rejection within three (3) working days from 0701 (F) e 51 oar R0 the date following the date of application LA P " LSBT D RVC 12773 FE LhO BT P ENLIE 99 Federal Negarit Gazetie No. 78, Sepetember 2 2020 puge h&a Aot PART FOUR LA oYt 828 Poy e AT PUR0ZH0F PROCEDURES FOR SUSPENSION AND REVOCATION CoT OF INVESTMENT PERMIT IEEAINNT oY 238 P20t oCo T 13. Procedure for Suspension of Investment Permit B TIE 90 G0N OAPE RBbR TE o 17" Where it is believed that an investor has committed NYPE (B) PLamall ST pOT avg o any of the violations stated under Article 13 Sub- hemy P (OAQ) Porge G an0Am L Article (1) of the Proclamation, he shall be given a @OP ANLALDT PUIINE ACIE ABLane writilen warning notice by the appropriate investment organ to take the necessary WLY° - PPaLy Lhar AN RS ecH) corrective measures or furnish adequate response withi AT Qaar CAHIN I ange 0 n a period not exceeding 60 (sixty) working days. CRUG ONIPEe LAMPA= &y RTPR B0 (8) emwg 2/ Where an investor who has received a warning NI PRe PR4Ne- QAU LamPary notice under Sub-Article (1) of this Articl e fails to 0Thhe MAREYT wR AN ear take the required corrective measure or to submi t BPALTT LA 9T WAOM AN eaa- adequate response, the appropriate investment PRI o3 amdl @ 0 APE AR TP organ may suspend the investment permit for the FON-RTPR (E) PRI UL PAFINT 00 period provided in Article 13 Sub-ar icle (2) of the L AW T o Vo Proclamation, 13, PAIIN DT 22L& PoNLHNT oCoT 14. Procedure for Revocation of Investment Permit 7B (S L VI VR Y VS ONG 11T & RO R 1/ Before revoking an investment permit on the basis OhPE We FOO-RIPR (i) of grounds specified under Article 13 Sub-Articl e bemql1 903 04T PRI w3 4o (3) of the Proclamation, the appropriate investment heomOlll 0147 LA ACIFars eoqmnen1s organ shall notify the investor in writing of the SNIeT a0 (R4 LA P reasons for the impending revocation measure: the QA0 (MR4¢ AL A3 ADPPT (1] investor shall submit his written statement within (he- APPQT) Pl PGV @t NRVE 15 (fifteen) working days. WQPLA AN 0y KPR 00-RIPR (8) emwi: 2/ The appropriate investment organ may revoke the M oke PRLOM GADNT 9PAT hadam investment permit where the investor who received LI Lamar evAd PALYY PAAD TPy notification as per Sub-Article (1) of this Article AN A PRFTNT w3 s N fails to respond or the response he provided is not PATNNT o0} 42875 A0CH LTAN found acceptable. 12774 = LELA 1ICT DUM RTC EX vho BT, P E Federal Negarit Gazette No.78, Sepetember 2™ 2020 ... page neA AP0t : PART FIVE SENTOE N99C K PFOANC 0F°y+F g°u1 REGISTRATION OF TECHNOLOGY TRANSFER AND COLLABORATION AGREEMENTS IZ. ehFoeR W99C a9yt 15. Technology Transfer Agreement 1/ A technology transfer agreement registration request 8/ OAPE. WIP& 1 @l PUPCA P ENS AR made pursuant to Article 15 of the Proclamation ANIC AP PN reE PeLhaa shall be accompanied by the following: “PAT AN V) CERSAE bpag Pldlom PolennhF a) An application form signed by the technology PR recipient; A) MBSO E 0L AT APl ovhha b) A copy of technology transfer agreement PIREY A1LTFY Povonl1) KRG 097400 concluded between the recipient and AN Qder RhA PeleniN agegey- technology provider and registered with PR notary public; ) PERTAE MPAL PRG PIVE sl LIE ¢) A copy of valid business license or investment QLY CATTANT S 4. P8 PR: AT permit of the technology recipient; and @) PENTNE APCMo- P38 N0 0L9° d) A copy of the commercial registration certificate eI e LPE 0Ly CENTNE or business license or document ascertaining AWMLY 918279 18 PR = ownership of technology of the technology provider. &/ my ArP& H0-RFPR - (B) Cladal 2/ Documents under Sub-Article (1) of this Article wremfer WATERL o e 0T originating from outside of Ethiopia must be AT PP AN OAFar Parelr AG authenticated by foreign and domestic bodies PAIC 00T AMAT ol D17 A0V a-= authorized to authenticate documents. herlie Y AIPR FON-RIPR (B) cowld 3/ Upon receipt of a complete application for registration in accordance with Sub Article -article AN FewAhF DA E APCOAT (1) of this Article, the Commission shall pass a ANLALOF PT84 (1di (0AA) Prree decision within 30 (thirty) working days having ¢ 00T iy LOANA= conducted the necessary review. a/ hey’ i eageYRYT PN TeeT hebdna 4/ Where the Commission approve the request, it AgoI°yly Newen ] foona “INEE shall register the agreement and issue a certificate AR AR RANA: PPRad WAPOA of registration to the applicant; where it rejects the @430~ (IRVG AhwANTE PAa-PA= application, it shall notify the applicant of its decision in writing. TR EE 12778 " LSl IO N ey Foderal Negart Gazette No. 78, Sepetember 2 2020 . page PV TN AR5 IO S DTS 5/ The Commission shall establish detailed guideline LA AENGSAE LN gy Gam for determining the appropriateness of technology AN AL PNCS darb Tl WAT@- FRO9T o0 transfer agreement, for managing collaboration with [SARACS PrEP Ao Pland T institutions having sectoral-expertise for the purpose of assessing technology content, and, as necessary, RHL09° ATE ANLALTE ABNTAE b0 for determining the conditions under which PonlB K06 AT COLFANT 08 PULony informational support may be provided to NCNC CARLC 12CHT LD technology recipients. 1%, heoP 37& 92C 0+ePH Po-f £CET PhTia 16. Export-Oriented None-Equity-Based Foreign P QLT Lo P77 PRCN0 TANANC Enterprise Collaboration B/ OAPE RyPR ] avn s CPCAl PTG 1/ A collaboration agreement registration request made pursuant to Article 16 of the Proclamation APl 9N P ek LA A shall be accompanied by the following: ANz V) (ARG ardr QAU Pelddom “anp il a) An application form signed by a domestic investor: A) OAC oar QA0 ARG (aregr b) A copy of a collaboration agrecment APICTeLN v 1LY N72T between the domestic investor and a Camam) NG LUUINT AN QAar foreign enterprise registered with notary AN Clen ) PTG DYEYRE A public: PE: ¢) A copy of a valid business license or d) CRIC @ VAV PRG PRI e investment permit of the domestic investor; AL @RI PRV oy 4P PR and aG d) A copy of the commercial registration an) Car-epr AYrCy e | L N0 certificate or business license of the foreign PONNC WPV @RI OISyl bPS enterprise. PR gy AIPR O HOO-RIPR () Pladbal 2/ Documents under Sub-Article (1) of this Article 9ben - RATCRE arelr PP AT originating from outside of Ethiopia must be ALY PN AN QAT Parer AG authenticated by foreign and domestic bodies CAIC ar P ADNAT ol 217 RAOTFar= authorized to authenticate documents. iR 12776 2% TR O B% P E Federal Negarit Gazetie No.78, Sepetember 2™ 2020 .. page FOhe e ) RPEA HO0-KITA (B) ansnd 3/ Upon reccipt of a complete application for POUM emART TAY APCANAT registration in accordance with Sub-Article (1) of ANLALOS 990N (19985470 i (AAA) P g this Article. the Commission shall render decision PG 00T AL LANA = within 30 (thirty) working days having conducted the necessary review. L7 A (O O A TS N PAP LS BNU T I 2 4. Where the Commission approve the request, it WPOA AP 1s (lemeama)A) L9°UN “I00E shall register the agreement and issuc a certificate ANIC o0 P QA LANA: P edkard of registration to the domestic investor: where it AAEPA oNzos ARIC o0r QA0 rejects the application, it s notify the domestic azv-a: eAm-Ph= investor ot its decision in writing nea nLent fo5ee 0T 00T oo POLFANT phd: CONDITION FOR OWNING A DWELLING HOUSE: PATL TIOhA AIACT AONT PROVISION OF ONE-STOP SERVICE PomSLe M ALY oo PORFANT Uit 17. Condition for Owning a Dwelling House Carels QAT @f9° WL RIC e QA0 A foreign investor or a foreign national treated as a Clrpmd Carel 1L (APE RhPR FON-WHPR domestic investor may own a dwelling house as per () vl om0 QAN amPd o7 T0ar Article 18 Sub-Article (2) of the Proclamation if he has L0 1 AT (WOC “LALS) PRI 2AC invested @ minimum of USD 10,000,000.00 (Ten (Iy2de AL PR TP Y Million) TEPAYE T0hA A1A2NCT 18. One-Stop-Service YA S TR 1 b B L E BT N 2 T VA A TR I I Without prejudice to one-stop services provided in Ch 248 wfy" NAISOTE TCHT aregr industrial parks or other service provision locations WA PRI anQen DT POl PR pursuant to industrial park laws. the Commission | GONA Wl WLl G hey i || shall register foreign direct capital and provide the | Parepr o Lm0 : following services representing the relevant (SPR U 220 & D S Yo VA A (T L S B Government executive organs: Mm@l COLNTFAS RIADFT LADA: 12177 5.9 Federal Ne; it Gazette No.78, Sepetember 2 2020 | puge P40 0 a) Registration of Memorandum of Association, LHOT RIL09° AN 2y amam) Articles of Association, and amendments thereto: A) CEIe opy em0C nye avan o) b) Registration, amendment. replacement. and CPNNN: am N : ampg): cancellation of trade names and business names ; ) (U oW a0 000 RGP e C! Registration in commercial register. and issuance, SN CONC wlel Al antn: amendment. replacement and cancellation of an Y e commercial registration certiticate; R T S R RU1 DSVRPN, S d) Issuance. renewal, replacement, suspension and AT WRA: vl N 4Py cancellation of expat work permits: “T8s AR R R o KA A L R T AR T T e b < c Issuance, renewal. suspension. replacement go and TH andmd AG owain: nG revocation of business license: and &) ChB ey M POLPTS Handling AT QA av /) “A0TGL: of investment incentive requests in accordance with the A1 QA w2 g - PPLp. IR upplic‘ahlc law: handling of requests for the transfer of construction materials, a1 ham W3 Qa0 oe AA PPl capital goods, spare parts and vehicles from one R A VR T TR | B P T P N e investor having duty-free right to another R R e U T VR YD mvestor having the same right in accordance with AhChe T CUN1A0G: L] the applicable law ANTGL #/ CHIE NG RISV kG D KPR The Ministry of Trade and Industry shall follow up TO0-WIPR(B) LEN Al () o) that the renewal of business license as per Sub- Cr Gy - eyae: Yl &0LAT Article (1) paragraph (¢) of this Article is carrie d AN emg govy LA = out in accordance with the law. it/ CeLamA) Far Cony el mhAad. ey 3 The iy pertinent. Government Agencies shall set up PRI 90 AIANY- Loh o 099%dyge desks and provide the following services at the COANTATT WIAWET LANA Commission's one stop shop: THAEEEE 12778 " AELA YICT DM RTC EE Y BT P ERIE 990 Federal Negarit Gazette No.78. Sepetember 2 2020 . puge V) PG hé-L ompf RPC w1 a) Issuance of tax identification number; Q) PemGLe 4L s b) Issuance of residence permit; h) PV LFE wdmd: AT c) Issuance of construction permit; and )P RN FROE P17 TG AR LS PoeONC d) Approval of environmental impact @ldT emhm = assessment studies and - issuance of certificate; B h04A, U ATE DOl LD ATPR FON-RIPR 3/ When necessary, the Commission may determine to (8) AT (F) hlemdlel oo (ATL “70hA provide additional one-stop services supplementing. AWGC e AIANET AHLOm Aot the list under Sub-Articles (1) and. (3) of this LN Article. & bt e Y RIPR CION-RIPR (B) e-rndNs 4 Upon receipt of application for services provided AAWCETF RdewdAht TeE APCAAT under Sub-Article (1) of this Article, the QAW Far FUAF CPLN P 1994917 WG Commission, having ascertained completeness of FEET AN hAe: h? AFRC (lamanCaon(;: the application and reviewed it pursuant to the applicable law, shall: S V) “YemAhFo-y hebdlae- PO heie a) Where it approves the application, provide the N“70hé.A e Fmfdars ANADCT LANA: service requested by charging the proper fee, ARNLALD NTTA> PAma? AN and notify relevant Government organs of the LY UMNCE AN AXFa- Pavy- service provided or accreditation issued for AhAd eam-A: wpgye necessary follow-up: or b) Where it rejects the application, notify the Q) “YemnhFoy hackeOde eaPNANTY investor or applicant in writing of the reason for 3 PNLLT AQAVAE @LI° ARmANT (1804 the rejection. LAamr-PA 12779 LSLA 12T o0 kT bt B% 3 ENIE 997 Federal Negarit Gazeue No.78. Sepetember 2 2020 | page E QAT ARTIOTen 3 TEER- 5/-The “appropriate investment organs shall providc’ PULLNLND bl ANEC Porl: PhARTCH support to requests of investors in respect of their DEA AT PEADS WIANET: WIS090 investments to obtain land. loan. water. electric A&ATFar AT A“LPPZFor Carer AC LT U power, telecom services. as well as visa and AT Pm§oe L ATIUTTYT AU PCO - residence permits for themselves and their expat employees. For the implementation of this PLEPT AW AT PRFINT e provision. relevant - organs ot * the Federal AMFSRC ANAT 00 09 LAMA-: ALY Government and Regional State - Administrations L% REKRYS PUlemAl) T PAREA must establish investment help: desks ' that handle awyUr KRG PHAA QS R investors” requests expeditiously CANVNFTT PeE OPAPET CLLATGTY CAHIOT a3 L0073 “1RL9° hAVT 0= hea ant PART SEVEN X P wit P7AT 22AmT AT PUUR., TRAINING AND TRANSFER OF KNOWLEDGE AND PO+ NS hvtet 199C SKILL TO ETHIOPIAN EMPLOYEES I8, AAICXLD-£F woetTF P790T srAmS AT 19. Procedure for the Training of and Transfer of £o0-dF AS hoteF N929C hwec and Skill to Ethiopian Emplovees B MWPE AIPR K€ HOO-AIPR(B) o ) A9 I/ An investor employing forcigners in permanent PN Qdar Pov-g avdh) Parel AIC AT fields of occupation. pursuant 1o Article 22 Sub- Article (1) of the Proclamation is obliged to CAPTC QAU N2AR (0T L “70P4: replace expat employees by Ethiopians within a OO ARTCX LT ANEALOS Povde AL clearly set timeframe by providing the needed on- mamG N1%AT AT darb N RIAAAANG the-job training and facilitating the transfer of N4 Carel LD LPNEPT (AAER Lar 075 knowledge. . AL POV L LD AANT = & A0AE e e AL Fmae- (10T 2/ The investor must, within three months of the OC U 0P CrAMGTOS YL NG emCy- issuance of business license, submit 10 the MIC Por.eap, onYpo ¢ LUT rhaeye Commission a statement detailing the type and CamCO-0473 PPl Roml PRERRY® L7°C schedule of the training, and. thereafter, a quarterly AL “7PLAl AANT = implementation report of the training program. E1 0y R3bR H00-RIeR (§) avw, T PereCiar 3/ The report submitted pursuant to Sub-Article (2) of L7°CT e ay WCNCT- een aofy this Article shall contain the following details: AN 12780 " LSloB DL DN RVC schth B% b3 EOTE a9 Federal Negarit Gazetie No. 78, Scpetember 2™ 2020 . . page V) Parelr ANC o oA 090 RS PPl a) The full name of the foreign national and the pav. ¢ emih: ; occupational field in which he is hired; D) Proe-AL p20mS CULANTar AR P2 b) The full name and address ‘of Ethiopians LY O PA S Y2 receiving the on-the-job training; ) POlOmaor Crrie-Ag, PELYOL T A% S X c) The type of training offered and the duration for PULmORar UL AT which the training lasts; o) (LIS LD A0 ARLar 23 AANGT d) Where Ethiopian trainces are not acquiring the AULF darb Al RS Tav) 074000 anm’y necessary knowledge and ~ skill to the extent and within the time desired an explanation AG UL APPhen- eAUY NIRUT ALY thercon. L F |P B her e RS RS RIS0TE UnnEC RS 4/ In collaboration with the Ministry of Trade and W del5 G “N06E 145 “UnkC D0 Industry and the Ministry of Labour and Social New-1-A0C D KPR AT OAPE W3PR KE Affairs, the Commission shall prepare and implement a working guideline regulating matters CERITE L RAET PeemARY PhGC specified under this Article and Article 22 of the avand, @ - CUIRN: 18.8719° LRACIA: Proclamation. hea 053 PART EIGHT AR AR £3229F MISCELLANEOQUS PROVISIONS #. 004 AS L2799 T PAATO- MIT ZORchaIed and Inapplicable Laws 1/ The Provisions on investment areas in the B PRKUOT w3 YLD FPT AG ARG a0 Investment Incentives and Investment Areas QAT CFhAA. Pl e P01 ¢ Reserved for Domestic Investors Council of PHE 0T RPN RPC (N2RA04A) Ministers Regulation No. 270/2012 (as amended) CATUNT s (Pl owOWT3 Poganilil: arc hereby repealed. . LBRPT N LA A NEPA= €y L3N ¢ eI G ey &) 2 No Regulation, Directive or Customary practice shall, in so far as it is inconsistent with this aanl @ @LY° PRWEC AL D R Regulation, be applicable with respect to matters g RACTY hemalil FARULYY provided for in this Regulation. heS laryos LETRA &0 3 12781 ASLleB 1T UM hC weh BE P ENIE 990 Federal Negarit Gazette No.78. Scpetember 2™ 2020 .. page RE. 142UTo PP TA £392PF 21.Unrepealed Provisions PATINT v} LT PTF RS ANIC o0 The provisions of the Investment Incentives and QAT CFIAA. Prode omdb T Loy L0 1CT Investment Areas Reserved for Domestic Investors e Council of Ministers Regulation 0 R¥ dkPC (A& 00) No. 270/2012 _(as amended) relating to investment incentives shall remain CATUNT a1 “WED Ty pogamplil: £7300,9F valid until they are repealed by another law. NAA W RONAS &40 AIRRT LELA: FE.LF P3R50T 21 22. Effective Date LU R 4REA 26T O D40 hoad This Regulation shall come into force on the date of U EPC PRG LUGA= publication in Federal Negarit Gazette. AAD AN Y0 R7 7 ENTE 9.9°. Done at Addis Ababa On the 2" Day of September 2020. 0412 Amamg: (2/C) ABIY AHMED (DR.) PRIME MINSTER OF THE FEDERAL DEMOCRATIC PAIPRL LROAR ATNCALE LTOAN REPUBLIC OF ETHIOPIA mPAL INTC