Investment Proclamation No. 769/2012

የኢትዮጵያ ፌዴራላዊ ዲሞክራሲያዊ ሪፐብሊክ ፌዴራል ነጋሪት ጋዜጣ FEDERAL NEGARIT GAZETA OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA አሥራ ስምንተኛ ዓመት qÜ_R %3 በኢትዮጵያ ፌዴራላዊ ዲሞክራሲያዊ ሪፐብሊክ 18th Year No. 63 አዲስ አበባ መስከረም 7 qN 2ሺ5 ዓ.ም የሕዝብ ተወካዮች ምክር ቤት ጠባቂነት የወጣ ADDIS ABABA 17th September, 2012 ¥WÅ CONTENTS xêJ qÜ_R 7)%9/2ሺ4 ›.M Proclamation No.769/2012 የኢንቨስትመንት አዋጅ …… ገጽ 6ሺ5)&2 Investment Proclamation. …….Page 6572 አዋጅ ቁጥር 7)%9/2ሺ4 PROCLAMATION No. 769/2012 eK›=”yeƒS”ƒ ¾¨× ›ªÏ A PROCLAMATION ON INVESTMENT ¾›Ñ]~” ¾›=¢•T> MTƒ KTóÖ”“ WHEREAS, the encouragement and expansion ¾Q´x” ¾’<a Å[Í KThhM ›=”yeƒS”ƒ” of investment, especially in the manufacturing sector, በተለይም የማምረቻ ኢንዱስትሪ ዘርፍን በTu[ƒ“ has become necessary so as to strengthen the domestic በማስፋፋት የአገር ውስጥ የማምረት አቅምን ማጠናከር production capacity and thereby accelerate the በማስፈለጉ፤ economic development of the country and improve the living standards of its peoples; ወደ አገር ውስጥ የሚገባውን የካፒታል ፍሰት WHEREAS, it has become necessary to ይበልጥ ማሳደግና የቴክኖሎጂ ሽግግርን ማፋጠን further increase the inflow of capital and speed up በማስፈለጉ፤ the transfer of technology into the country; የኢንቨስትመንት ክልላዊ ሥርጭትን ማሻሻልና WHEREAS, it has become necessary to በሚደረጉ ኢንቨስትመንቶች መካከል ውድድርን በማስፈን enhance and promote the equitable distribution of ኅብረተሰቡን ተጠቃሚ ማድረግ በማስፈለጉ፤ investments among regions and benefit the society by ensuring competitiveness among investments made by investors; ለባለሀብቶች የሚሰጡ ፈቃዶችና ማበረታቻዎች WHEREAS, it has become essential to put in ለታለመላቸው ዓላማዎች በአግባቡ መዋላቸውን ማረጋገጥ place a system of supervision to ensure that permits የሚያስችል የክትትል ሥርዓት መዘርጋት በማስፈለጉ፤ and incentives granted to investors are used for the intended purposes; ኢንቨስትመንት የሚመራበት ሥርዓት በይበልጥ WHEREAS, the system of administration of ግልጽና ቀልጣፋ እንዲሆን ማድረግ በማስፈለጉ፤ investment needs to be transparent and efficient; የኢንዱስትሪ ልማት ቀጠናዎች መቋቋም ምቹና WHEREAS, it has been considered that the ተወዳዳሪ ከባቢያዊ ሁኔታዎችን በመፍጠር የማምረቻ establishment of industrial development zones helps, ኢንዱስትሪዎች እርስ በርስ ተመጋግበውና በእሴት ሰንሰለት by creating enabling and competitive condition, to ተሳስረው የሚያድጉበትን ሁኔታ በማመቻቸት interrelate manufacturing sectors based on value ኢንቨስትመንትን በመሣብና በማስፋፋት ረገድ አይነተኛ creation as well as to attract and expand investment; መንገድ መሆኑ ስለታመነበት፤

gA 6ሺ5)&3 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6573 ’²=I” ¯LT­‹ ŸÓw KTÉ[e uY^ Là WHEREAS, to these ends, it has become ÁK¨<” ¾›=”yeƒS”ƒ QÓ ThhM ›eðLÑ> J• necessary to revise the existing law on investment; uSÑ–~፤ u›=ƒÄåÁ ôÈ^L© Ç=V¡^c=Á© ]øwK=¡ NOW, THEREFORE, in accordance with QÑ S”ÓYƒ ›”kê $5(1) SW[ƒ ¾T>Ÿ}K¨< Article 55(1) of the Constitution of the Federal •¨<ጇM:: Democratic Republic of Ethiopia, it is hereby proclaimed as follows: ¡õM ›”É PART ONE ÖpLL GENERAL 1 አጭር ርዕስ 1. Short Title ÃI አªÏ “¾›=”yeƒS”ƒ ›ªÏ lØ` 7)%9/2ሺ4” This Proclamation may be cited as the }wKA K=Öke ËLM:: “Investment Proclamation No. 769/2012”. 2 ትርጓሜ 2. Definitions ¾nK< ›Ñvw K?L ƒ`Ñ<U ¾T>ÁcÖ¨< "MJ’ In this Proclamation, unless the context otherwise ue}k` u²=I ›ªÏ ¨<eØ፡- requires: 1/ “›=”yeƒS”ƒ” TKƒ ›Ç=e É`σ KTssU 1/ “investment” means expenditure of capital in ¨ÃU ’v` É`σ” KTeóóƒ ¨ÃU cash or in kind or in both by an investor to KThhM uvKሀwƒ uÑ”²w ¨ÃU u¯Ã’ƒ establish a new enterprise or to expand or ¨ÃU uG<K~U ¾T>Å[Ó ¾"úM ¨Ü ’¨<፤ upgrade one that already exists; 2/ “É`σ” TKƒ Kƒ`õ ¾}ssS É`σ ’ው፤ 2/ “enterprise” means an undertaking established for the purpose of profit making; 3/ “"ú•M” TKƒ ¾GÑ` ¨<eØ ¨ÃU ¾¨<ß 3/ “capital” means local or foreign currency, Ñ”²w' ¾T>}LKõ W’É' ¾TU[‰ ¨ÃU negotiable instruments, machinery or ¾›ÑMÓKAƒ SeÝ SX]Á' Q”í' ¾Y^ equipment, buildings, working capital, TeŸ?Í ካፒታል' ¾”w[ƒ Swƒ' ¾û}”ƒ property rights, patent rights, or other business Swƒ ¨ÃU K?L ¾”ÓÉ Gwƒ ’¨<፤ assets; 4/ “vKሀwƒ” TKƒ u›=ƒÄåÁ ¨<eØ ›=”yeƒ 4/ “investor” means a domestic or a foreign ÁÅ[Ñ ¾›Ñ` ¨<eØ ¨ÃU ¾¨<ß vKሀwƒ investor having invested in Ethiopia; ’¨<፤ 5/ “¾›Ñ` ¨<eØ vKሀwƒ” TKƒ ¾›=”yeƒS”ƒ 5/ “domestic investor” means an Ethiopian "úM uY^ Là ÁªK ›=ƒÄåÁ© ¨ÃU national or a foreign national treated as a ›Óvw vK¨< QÓ ”Å ›Ñ` ¨<eØ vKGwƒ domestic investor as per the relevant law, and ¾}qÖ[ ¾¨<ß ›Ñ` ²?Ò c=J” S”ÓYƒ”“ includes the government, public enterprises as ¾S”ÓYƒ MTƒ É`σ” “ ›Óvw vK¨< well as cooperative societies established as per QÓ ¾}ssS< ¾w[ƒ Y^ Tu^ƒ” the relevant law; ይጨምራል፤ 6/ “¾¨<ß vKሀwƒ” TKƒ ¾¨<ß "ú•M ¨Å 6/ “foreign investor” means a foreigner or an ›=ƒÄåÁ uTeÑvƒ ›=”yeƒ ÁÅ[Ñ ¾¨<ß enterprise wholly owned by foreign nationals, ›Ñ` ²?Ò ¨ÃU ሙሉ በሙሉ u¨<ß ›Ñ` ²?Ò having invested foreign capital in Ethiopia or vKu?ƒ’ƒ ¾}Á² É`σ ወይም ከአገር ውስጥ a foreigner or an Ethiopian incorporated enterprise owned by foreign nationals jointly ባለሀብት ጋር በቅንጅት ኢትዮጵያ ውስጥ investing with a domestic investor, and በተቋቋመ ድርጅት ኢንቨስት ያደረገ የውጭ አገር includes an Ethiopian permanently residing ዜጋ ወይም ድርጅት c=J” ”Ũ<ß vKሀwƒ abroad and preferring treatment as a foreign SqÖ` ¾ðKÑ SÅu— ’ª]’~ u¨<ß ›Ñ` investor; ¾J’ ›=ƒÄåÁ©” ÃÚU^M፤

gA 6ሺ5)&4 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6574 7/ “¾¨<ß "ú•M” TKƒ Ÿ¨<ß U”ß ¾}Ñ– 7/ “foreign capital” means capital obtained "úM c=J” u¨<ß vKሀwƒ ¨Å "ú•M from foreign sources, and includes the re- ¾}K¨Ö u›Ñ` ¨<eØ ¾}Ñ– ƒ`õ”“ ¾ƒ`õ invested profits and dividends of a foreign É`h” ÃÚU^M፤ investor; 8/ “Teóóƒ” ወይም “ThhM” TKƒ K=Å[euƒ 8/ “expansion” or “upgrading” includes increasing ¾T>‹M ¾’v` É`σ” ¾TU[ƒ ¨ÃU in volume, by at least 50% the attainable ›ÑMÓKAƒ ¾SeÖƒ ›pU u=Á”e $ በመቶ production or service rendering capacity of an uSÖ” TdÅÓ ¨ÃU ¾’v` É`σ” ›Ç=e existing enterprise or increasing in variety, by ¾TU[‰ ¨ÃU ›ÑMÓKAƒ SeÝ SeS` at least 100%, by introducing a new uSÚS` U`ƒ” ¨ÃU ›ÑMÓKAƒ” u=Á”e production or service rendering line of an መቶበመቶ በዓይነት ማሳደግ ወይም በሁለቱም existing enterprise or increment by both; ማሳደግን ያጠቃልላል፤ 9/ “¾S”ÓYƒ ¾MTƒ É`σ” TKƒ uôÈ^K< 9/ “public enterprise” means an enterprise, S”ÓYƒ ¨ÃU u¡MM S”ÓYƒ S<K< wholly or partially owned by the federal or ወይም ከፊል vKu?ƒ’ƒ ¾}Á² É`σ ’¨<፤ regional government; 0/ “¾‚¡•KAÍ= iÓÓ`” TKƒ U`ƒ” KTU[ƒ 10/ “transfer of technology” means the transfer of ¨ÃU ¾›S^[ƒ H>Ń” }Óv^© KTÉ[Ó systematic knowledge for the manufacture of ¨ÃU KThhM ¨ÃU ›ÑMÓKAƒ KSeÖƒ a product, for the application or improvement ¾T>[Ç Y`¯ƒ ÁK¨< °¨<kƒ Te}LKõ of a process or for the rendering of a service, c=J” ¾Y^ ›S^` “ ¾ቴክኒክ °¨<kƒ including management and technical know- ”Ç=G<U ¾Ówà G<’@ ‚¡•KAÍ=”U how as well as marketing technologies, but ÃÚU^M&J•U °n­‹” w‰ KSgØ ¨ÃU may not extend to transactions involving the KTŸ^¾ƒ ¾T>Å[Ó” Ó”–<’ƒ ›Ãgõ”U፤ mere sale or lease of goods; 01/ “Ÿወጪ ንግÉ Ò` u}ÁÁ² ¾¨<ß É`σ 11/ “export-oriented non-equity based foreign ¾Gwƒ Sªà dÕ[¨< ¾T>ÁÅ`Ѩ< ƒww`” enterprise collaboration” means a 100% TKƒ S„ uS„ Ÿወጪ ”ÓÉ Ò` u}ÁÁ² export-oriented contractual agreement ¾¨<ß É`σ Ÿ›Ñ` ¨<eØ vKGwƒ Ò` between a domestic investor and foreign ¾T>ÁÅ`Ѩ< ¾ውM Ó”–<’ƒ J• ¾¨<ß enterprise in which the foreign enterprise É`Ï~ K›Ñ` ¨<eØ vKGw~ ¾T>Ÿ}K<ƒ” provides, among others, all or some of the uS<K< ¨ÃU uŸòM SeÖƒ” ÃÚU^M፡- following: G) ›e}TT˜ ¾¨<ß ÑuÁ Ó˜ƒ& a) guaranteed external market access; K) K¨<ß ÑuÁ ¾T>k`u< U`„‹” b) production know-how of products for ¾TU[ƒ ²È፤ export market;

N) u¨<ß ÑuÁ ¾SgØ eMƒ፤ c) export marketing know-how; S) ¾¨Ü ”ÓÉ Y^ ›S^` °¨<kƒ፤ d) export business management know-how; W) K¨Ü U`ƒ ¾T>ÁeðMÑ< Ø_ °n­‹“ e) strategies for the supply of raw materials Ów¯„‹ አቅርቦት ስልት፤ and intermediate inputs needed for export products; 02/ “S”ÓYƒ” TKƒ ¾ôÈ^K< S”ÓYƒ ¨ÃU 12/ “government” means the federal government ¾¡MM S”ÓYƒ ’¨<፤ or a regional government; 03/ “¡MM” TKƒ u›=ƒÄåÁ ôÈ^L© 13/ “region” means any state specified under Ç=V¡^c=Á© ]øwK=¡ QÑ S”ÓYƒ ›”kê Article 47(1) of the Constitution of the Federal #7(1) ¾}SKŸ}¨< T”—¨<U ¡MM c=Jን Democratic Republic of Ethiopia and includes ¾›Ç=e ›uv Ÿ}T “ ¾É_Ǫ Ÿ}T the Addis Ababa and Dire Dawa city ›e}Çደa‹” ÃÚU^M፤ administrations; gA 6ሺ5)&5 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6575 04/ “ኤጀንሲ” TKƒ በሚኒስትሮች ምክር ቤት ደንብ 14/ “Agency” means the Ethiopian Investment የሚቋቋም ¾›=ƒÄåÁ ›=”yeƒS”ƒ ›?Ë”c= Agency to be established by regulation of the ’¨<& Council of Ministers; 05/ “ኢንቨስትመንት ቦርድ” TKƒ የኤጀንሲው 15/ “Investment Board” means the highest Ÿõ}— ¾›S^` ›"M ’¨<& governing body of the Agency; 06/ “›Óvw ÁK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ” 16/ “appropriate investment organ” means the TKƒ ›?Ë”c=¨< ¨ÃU ¾›=”yeƒS”ƒ ðnÉ Agency or the executive organ of a region KSeÖƒ YM×” ¾}WÖ¨< ¾¡MM empowered to issue investment permits; ¾›=”yeƒS”ƒ ›"M ’¨<፤ 07/ “የኢንዱስትሪ ልማት ቀጠና” ማለት የኢንዱስትሪ 17/ “industrial development zone” means an እድገትን፣ የአካባቢ ብክለት ተፅኖን የመቀነስ እና area with distinct boundary designated by የከተሞች እድገትን በእቅድና በስርዓት የመምራት the appropriate organ to develop identical, አበይት ዓላማዎችን የያዘ ሆኖ እቅድን መሠረት similar and interrelated industries together or to develop multi-faceted industries based አድርጐ እንደመንገድ፣ የኤሌክትሪክ ሃይል፣ on a plan fulfilling infrastructures such as ውሃና የመሣሠሉ አስፈላጊ መሠረተ ልማቶች፣ road, electric power and water and having የተለያዩ አገልግሎቶች ተሟልተውለት እና ልዩ incentive schemes with purposes containing የማበረታቻ ዐቅድ ኖሮት፣ አንድ ዓይነት ወይም industrial development, mitigating the ተመሣሣይነት ወይም ተመጋጋቢነት ያላቸው impacts of environmental pollution and ኢንዱስትሪዎችን በስብስብ ለማልማት ወይም administering the development of urbans ሁለገብ ኢንዱስትሪዎችን ለማልማት የሚቋቋም with plan and system; ድንበር የተበጀለት አግባብ ባለው አካል የተሰየመ የተወሰነ ቦታ ነው፤

08/ T”—¨<U u¨”É ï• ¾}ÑKç¨< የc?ƒ”U 18/ any expression in the masculine gender ÃÚU^M:: includes the feminine. 3 የተፈጻሚነት ወሰን 3. Scope of Application The provisions of this Proclamation may not be ¾²=I አªÏ É”ÒÑ@­‹ uT°É”“ ’ÇÏ õKÒ' applicable to investments in the prospecting, U`S^“ TU[ƒ Y^­‹ uT>Å[Ó exploration and development of minerals and ›=”yeƒS”ƒ Là }ðéT> ›ÃJ’<U:: petroleum resources. 4 የሥልጣን ክልል 4. Jurisdiction 1/ ¾T>Ÿ}K<ƒ ›=”yeƒS”„‹ ›e}ÇÅ` 1/ The administration of the following u›?Ë”c=¨< ¾YM×” ¡MM Y` èÉnK<፡- investments shall be under the jurisdiction of the Agency: G) ሙሉ በሙሉ u¨<ß vKሀwƒ ¾T>Å[Ó ›=”yeƒS”ƒ፤ a) wholly foreign owned investment; K) u›Ñ` ¨<eØ“ u¨<ß vKሀw„‹ up”σ b) joint investment made by domestic and ¾T>Å[Ó ›=”yeƒS”ƒ& foreign investors; N) u²=I ›ªÏ ›”kê 2(5) SW[ƒ ”Å c) investment made by a foreign national, ›Ñ` ¨<eØ vKGwƒ u}qÖ[ በትውልድ not Ethiopian by origin, treated as a ኢትዮጵያዊ ባልሆነ ¾¨<ß ›Ñ` ²?Ò domestic investor pursuant to Article 2(5) ¾T>Å[Ó ›=”yeƒS”ƒ፤ of this Proclamation; S) ¾›=”yeƒS”ƒ Tu[‰ uT>cØuƒ d) investment made, in areas eligible for ¾Y^ Se¡ ›Óvw "K¨< ¾ôÈ^K< S”ÓYƒ ›"M ¾”ÓÉ Y^ ðnÉ incentives, by a domestic investor who is ማ¨<׃ vKuƒ ¾›Ñ` ¨<eØ vKሀwƒ required to obtain a business license from the concerned federal organ. ¾T>Å[Ó ›=”yeƒS”ƒ፡፡ gA 6ሺ5)&6 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6576 2/ u¾² =I ›”kê ”®<e ›”kê (1) ¾}ደነገገ¨< 2/ Notwithstanding the provisions of sub- u=•`U u›¾` ƒ^”eþ`ƒ ›ÑMÓKAƒ“ article (1) of this Article, the issuance, u›?K?¡ƒ]¡ ÃM TS”Úƒ ¨ÃU renewal, replacement and cancellation of Te}LKõ ¨ÃU TW^Úƒ Y^ investment permits for air transport services KT>WT^ vKሀwƒ ¾›=”yeƒS”ƒ ðnÉ and for generation or transmission or የመስጠት፣ ¾TÅe፣ የመተካት“ ¾SW[´ distribution of electrical energy shall be ሥራን ”Å pÅU }Ÿ}L†¨< ¾›=ƒÄåÁ carried out by the Ethiopian Civil Aviation c=y=M ›y=Âi” vKYM×”“ ¾›=ƒÄåÁ Authority and the Ethiopian Electricity ›?K?¡ƒ]¡ ›?Ë”c= ›?Ë”c=¨<” uS¨ŸM Agency respectively, representing the ÁŸ“¨<“K<:: Agency. 3/ ¾›=ƒÄåÁ c=y=M ›y=Âi” vKYM×”“ 3/ The Ethiopian Civil Aviation Authority and የኢትዮጵያ ኤሌክትሪክ ›?Ë”c=፡- the Ethiopian Electricity Agency shall: G) u²=I ›”kê ”®<e ›”kê (2) SW[ƒ a) carry out functions delegated to them u¨<¡M“ ¾}c׆¨<” }Óv` under sub-article (2) of this Article in ¾T>ÁŸ“¨<’<ƒ u²=I አªÏ“ ›ªÌ” accordance with this Proclamation, and KTeðçU uT>¨Ö< Å”x‹“ regulations and directives issued SS]Á­‹ SW[ƒ ÃJ“M& hereunder; K) u}c׆¨< ¾¨<¡M“ YM×” SW[ƒ b) forward to the Agency information ¾c×D†¨<” አገልግሎቶች የሚመለከቱ regarding the services they have መረጃዎችን K›?Ë”c=¨< Áe}LMóK<:: rendered by way of delegation. 4/ u¾² =I ›”kê ”®<e ›”kê (1) እና (2) 4/ Investments other than those referred to in Ÿ}²[²\ƒ ¨<ß ¾T>Å[Ó ›=”yeƒS”ƒ sub- article (1) and (2) of this Article shall ›e}ÇÅ` u¡MM ¾›=”yeƒS”ƒ ›"Lƒ fall under the jurisdiction of regional YM×” ¡MM Y` èÉnM:: investment organs.

¡õM G<Kƒ PART TWO eK›=”yeƒS”ƒ ¯LT­‹“ ¾Y^ Se¢‹ INVESTMENT OBJECTIVES AND AREAS OF INVESTMENT 5 የኢንቨስትመንት ዓላማዎች 5. Investment Objectives ¾›=ƒÄåÁ ôÈ^L© Ç=V¡^c=Á© ]øwK=¡ The investment objectives of the Federal ¾›=”yeƒS”ƒ ¯LT­‹ k×Ã’ƒ ÁK¨< Democratic Republic of Ethiopia are designed to ¾›=¢•T>“ ¾Tu^© MTƒ ”Ç=•` uTÉ[Ó improve the living standards of the peoples of ¾›=ƒÄåÁ” Q´x‹ ¾’<a Å[Í ThhM J• Ethiopia through the realization of sustainable ´`´` ò†¨< ¾T>Ÿ}K<ƒ “†¨<፡- economic and social development, the particulars of which are the following: 1/ to accelerate the country’s economic 1/ ¾›Ñ]~” ¾›=¢•T> MTƒ TóÖ”፤ development; 2/ ¾›Ñ]~” cò ¾}ðØa Gwƒ ØpU Là 2/ to exploit and develop the immense natural TªM“ TMTƒ፤ resources of the country; 3/ U`ƒ”' U`T’ƒ”“ ›ÑMÓKAƒ” 3/ to develop the domestic market through the uTdÅÓ ¾›Ñ` ¨<eØ ÑuÁ ”Ç=Çw` growth of production, productivity and TÉ[Ó፤ services; gA 6ሺ5)&7 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6577 4/ ¨Ü U`„‹”“ ›ÑMÓKA„‹” uSÖ”' 4/ to increase foreign exchange earnings by u¯Ã’ƒ“ uØ^ƒ ”Ç=ÚU\ uTu[ƒ encouraging expansion in volume, variety and ¾¨<ß U”³] Ó˜ƒ” TdÅÓ& ”Ç=G<U quality of the country’s export products and Ÿ¨<ß ¾T>Ñu< U`„‹” u›Ñ` ¨<eØ services as well as to save foreign exchange uTU[ƒ ¾¨<ß U”³]” TÇ”፤ through production of import substituting products locally; 5/ u¡MKA‹ S"ŸM ¾}S×Ö’ °Éу“ 5/ to encourage balanced development and ¾›=¢•T> ”penc?­‹ p”σ ”Ç=•` integrated economic activity among the Tu[ƒ“ u›=¢•T> ²`ö‹ S"ŸM regions and to strengthen the inter-sectoral ÁK¨<” ƒee` TÖ“Ÿ`፤ linkages of the economy; 6/ ¾›Ñ]~” ›=¢•T> MTƒ KTóÖ” 6/ to enhance the role of the private sector in the uT>Å[Ѩ< Ø[ƒ ¾ÓM c?¡}\” T>“ acceleration of the country’s economic TdÅÓ፤ development; 7/ ¾¨<ß ›=”yeƒS”ƒ ለ›Ñ]~ ¾›=¢•T> 7/ to enable foreign investment play its role in MTƒ }Ñu=¨<” ድርሻ ”Ç=Áበረክት TÉ[Ó፤ the country’s economic development; 8/ to create ample employment opportunities for 8/ K›=ƒÄåÁ¨<Á” Wò ¾Y^ °ÉM SõÖ`“ Ethiopians and to advance the transfer of K›Ñ]~ °Éу ¾T>ÁeðMѨ<” ¾‚¡•KAÍ= technology required for the development of iÓÓ` Teóóƒ:: the country. 6 ለመንግሥት የተከለሉ ወይም ከመንግሥት ጋር 6. Areas of Investment Reserved for the Government በቅንጅት የሚካሄዱ የሥራ መስኮች or Joint Investment with the Government 1/ The following areas of investment shall 1/ ¾T>Ÿ}K<ƒ ¾Y^ Se¢‹ uS”ÓYƒ w‰ exclusively be reserved for the government: ¾T>"H@Æ ÃJ“K<፡- a) transmission and distribution of G) u}ÁÁ²< wN?@^© ª“ ª“ SeSa‹ electrical energy through the integrated ¾›?K?¡ƒ]¡ •ÃM ¾Te}LKõ“ national grid system; ¾TW^Úƒ Y^፤ K) ð×” ¾þe ›ÑMÓKAƒ” dÃÚU` b) postal services with the exception of courier services; ¾þe ›ÑMÓKAƒ፤ c) air transport services using aircraft with ሐ) ከሃምሳ መንገደኞች በላይ የመጫን አቅም a seating capacity of more than fifty ባለው አውሮፕላን የሚካሄድ የአየር passengers. ትራንስፖርት አገልግሎት፡፡

2/ በT>Ÿ}K<ƒ ¾Y^ Se¢‹ vKGw„‹ 2/ Investors shall be allowed to invest in the ›=”yeƒ KTÉ[Ó ¾T>‹K<ƒ ŸS”ÓYƒ following areas only jointly with the Ò` uSk“˃ w‰ ÃJ“M፡- government: G) ¾Ù` SX]Á­‹”' ØÄ‹”“ KÙ` a) manufacturing of weapons and SX]Á’ƒ ¾T>J’< ¨ÃU ¾Ù` SX]Á ammunition; KSY^ƒ ¾T>ÁÑKÓK< ð”Í=­‹” TU[ƒ፤ K) ¾‚K?¢ም ›ÑMÓKAƒ፡፡ b) telecom services. 3/ ¾T>’>eƒa‹ U¡` u?ƒ ›eðLÑ> J• c=ÁÑ–¨< 3/ The Council of Ministers may, whenever it KS”ÓYƒ ¾}ŸKK< ¨ÃU ŸS”ÓYƒ Ò` deems necessary, determine, by issuing up”σ w‰ ¾T>"H@Æ ¾Y^ Se¢‹ Kግል regulation, that areas of investment exclusively vKGwƒ ¡õƒ ”Ç=J’< uT>Á¨×¨< Å”w reserved for the government or for joint K=¨e” ËLM:: investment with the government be opened to private investors. gA 6ሺ5)&8 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6578 7 ለአገር ውስጥ ባለሀብቶች የተከለሉ የሥራ መስኮች 7. Areas of Investment Reserved for Domestic Investors u›Ñ` ¨<eØ vKGw„‹ w‰ ¾T>"H@Æ የሥራ Se¢‹ ¾T>’>eƒa‹ U¡` u?ƒ uT>Á¨×¨< Areas of investment exclusively reserved for Å”w èc“K<:: domestic investors shall be specified by regulation to be issued by the Council of Ministers. 8 ለውጭ ባለሀብቶች የተፈቀዱ የሥራ መስኮች 8. Areas of Investment Allowed for Foreign Investors ¾¨<ß vKGw„‹ ¾T>WT\v†¨< ¾Y^ Se¢‹ ¾T>’>eƒa‹ U¡` u?ƒ uT>Á¨×¨< ደንብ Areas of investment open for foreign investors ይወሰናሉ:: shall be determined by regulation to be issued by the Council of Ministers. 9 ከመንግሥት ጋር በቅንጅት ስለሚካሄድ ኢንቨስትመንት 9. Investments to be Undertaken Jointly with the Government የፕራይቬታይዜሽንና ¾S”ÓYƒ ¾MTƒ The Privatization and Public Enterprises É`Ï„‹ }q××] ኤጀንሲ T”—¨<U vKGwƒ Supervising Agency shall receive investment ŸS”ÓYƒ Ò` up”σ ›=”yeƒ KTÉ[Ó proposals submitted by any private investor ¾T>Ák`u¨<” ¾ýaË¡ƒ Hdw ÃkuLM፤ intending to invest jointly with the government; Kኢንዱስትሪ ሚኒስቴር ›p`x Áe¨e“M፤ it shall submit same to the Ministry of Industry c=ðkÉU up”σ }Xò ¾T>J’¨<” ¾MTƒ for decision and, upon approval, designate a É`σ ÃcÃTM:: public enterprise to invest as partner in the joint investment.

¡õM Zeƒ PART THREE eK›=”yeƒS”ƒ p`ï‹“ K¨<ß vKሀw„‹ FORMS OF INVESTMENT AND CAPITAL eKT>Ö¾p ¾"úM SÖ” REQUIREMENT FOR FOREIGN INVESTORS 0 የኢንቨስትመንት ሥራ የሚካሄድባቸው ቅርፆች 10. Forms of Investment 1/ ¾›=”yeƒS”ƒ Y^ ŸT>Ÿ}K<ƒ p`ï‹ 1/ Investments may be carried out in one of u›”Å—¨< K="H@É Ã‹LM፡- the following forms: G) uÓKcw፤ a) sole proprietorship; K) u›=ƒÄåÁ ¨ÃU u¨<ß ›Ñ` QÓ b) business organization incorporated in SW[ƒ u}ssS ¾”ÓÉ T•u`፤ Ethiopia or abroad; N) ›Óvw vK¨< QÓ SW[ƒ u}ssS c) public enterprise established in ¾S”ÓYƒ ¾MTƒ É`σ፤ accordance with the relevant law; S) ›Óvw vK¨< QÓ SW[ƒ u}ssS d) cooperative society formed in ¾w[ƒ Y^ Tu`:: accordance with the relevant law. 2/ u²=I ›”kê ”®<e ›”kê (1) ድንጋጌ 2/ Any investment made in the forms በተመለከቱት ቅርፆች የሚካሄድ ማንኛውም prescribed under sub-article (1) of this ኢንቨስትመንት u”ÓÉ ሕግ ¨ÃU ›Óvw Article shall be registered in accordance vK¨< K?L QÓ SW[ƒ SS´Ñw ›Kuƒ:: with the Commercial Code or other applicable law. gA 6ሺ5)&9 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6579 01 ለውጭ ባለሀብት ስለሚጠየቅ ዝቅተኛ የካፒታል 11. Minimum Capital Requirements for Foreign መጠን Investors 1/ ¾¨<ß vKGwƒ u²=I ›ªÏ SW[ƒ ›=”yeƒ 1/ Any foreign investor, to be allowed to invest KTÉ[Ó ¾T>ðkÉKƒ K›”É ¾›=”yeƒS”ƒ pursuant to this Proclamation, shall be ýaË¡ƒ Ÿ2)ሺ ¾›T@]"” ÊL` ÁL’c "ú•M required to allocate a minimum capital of ¾SÅu ”ÅJ’ ’¨<:: USD 200,000 for a single investment project. 2/ ¾²=I ›”kê ”®<e ›”kê (1) ድንጋጌ u=•`U 2/ Notwithstanding the provision of sub-article Ÿ›Ñ` ¨<eØ vKGwƒ Ò` up”σ ›=”yeƒ (1) of this Article, the minimum capital ለT>ÁÅ`ግ ¾¨<ß vKGwƒ ¾T>Ö¾k¨< ´p}— required of a foreign investor investing ¾"úM SÖ” 1)$ሺ ¾›T@]"” ÊL` jointly with a domestic investor shall be USD ÃJ“M:: 150,000. 3/ በአርኪቴክቸር ወይም በኢንጂነሪንግ ሥራዎች 3/ The minimum capital required of a foreign ወይም በተዛማጅ የቴክኒክ ማማከር አገልግሎት፣ investor investing in architectural or በቴክኒክ ምርመራና ትንተና ወይም u›dT>’ƒ engineering works or related technical Y^ ›=”yeƒ ¾T>ÁÅ`Ó ¾¨<ß vKGwƒ consultancy services, technical testing and ¾T>Ö¾k¨< ´p}— ¾"úM SÖ”፡- analysis or in publishing work shall be:

G) u}“ÖM c=J” 1)ሺ ¾›T@]"” ÊL` a) USD 100,000 if the investment is made ÃJ“M& wholly on his own; K) Ÿ›Ñ` ¨<eØ vKሀwƒ Ò` up”σ c=J” b) USD 50,000 if the investment is made $ሺ ¾›T@]"” ÊL` ÃJ“M:: jointly with a domestic investor. 4/ ከነባር ኢንቨስትመንቱ የሚያገኘውን ƒ`õ ¨ÃU 4/ A foreign investor re-investing his profits or ¾ƒ`õ É`h SMf ›=”yeƒ ¾T>ÁÅ`ግ dividends generated from his existing ¾¨<ß vKGwƒ S’h "úM ”Ç=SÉw enterprise may not be required to allocate a ›ÃÖ¾pU:: minimum capital. 5/ T”—¨<U ¾¨<ß vKGwƒ ¨Å ›Ñ` ¨<eØ 5/ Any foreign investor having brought ÁeÑv¨<” ¾›=”yeƒS”ƒ "úM u›?Ë”c=¨< investment capital into the country shall have uTeS´Ñw የምስክር ወረቀት SÁ´ registered same by the Agency and obtain a Õ`u•M:: ኤጀንሲው ለባለሀብቱ የሚሰጠውን certificate of registration. The Agency shall የምስክር ወረቀት ቅጂ ለኢትዮጵያ ብሔራዊ ባንክ send a copy of the certificate to the National Bank of Ethiopia. ይልካል፡፡ ¡õM ›^ƒ PART FOUR eK›=”yeƒS”ƒ ðnÉ INVESTMENT PERMIT 02 ስለኢንቨስትመንት ፈቃድ አስፈላጊነት 12. Requirement of Investment Permit 1/ ¾T>Ÿ}K<ƒ vKGw„‹ ¾›=”yeƒS”ƒ ðnÉ 1/ The following investors shall be required to ÁeðMÒ†ªM፡- obtain investment permits: G) ¾¨<ß vKGw„‹፤ a) foreign investors; K) up”σ ›=”yeƒ ¾T>ÁÅ`Ñ< ¾›Ñ` b) domestic and foreign investors ¨<eØ“ ¾¨<ß vKGw„‹& investing in partnership; N) u²=I ›ªÏ ›”kê 2(5) SW[ƒ ”Å c) foreign nationals, not Ethiopian by ›Ñ` ¨<eØ vKGwƒ uSqÖ` ›=”yeƒ origin, treated as a domestic investors ¾T>ÁÅ`Ñ< uƒ¨<MÉ ›=ƒÄåÁ¨<Á” pursuant to Article 2(5) of this ÁMJ’< ¾¨<ß ›Ñ` ²?Ô‹፤ Proclamation; gA 6ሺ5)' ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6580 S) ¾›=”yeƒS”ƒ Tu[‰ uT>cØuƒ d) domestic investors investing in areas ¾Y^ Se¡ ›=”yeƒ ¾T>ÁÅ`Ñ<“ eligible for incentives and who are ¾Tu[‰¨< }ÖnT> SJ” ¾T>ðMÑ< seeking to be beneficiaries of such ¾›Ñ` ¨<eØ vKGw„‹፡፡ incentives. 2/ ¾²=I ›”kê ”®<e ›”kê (1) É”ÒÑ@ 2/ Notwithstanding the provision of sub- u=•`U፡- article (1) of this Article, domestic G) ¾›=”yeƒS”ƒ Tu[‰ uTÃcØv†¨< investors, excluding foreign nationals who ¾Y^ Se¢‹ ¾T>WT\፤ ¨ÃU are not of Ethiopian origin, shall have the right to invest, without having an K) ¾›=”yeƒS”ƒ Tu[‰ uT>cØv†¨< investment permit, in conformity with the ¾Y^ Se¢‹ የማበረታቻው }ÖnT> relevant laws of the country: dÃJ’< ›=”yeƒ KTÉ[Ó ¾T>ðMÑ<፤ a) in areas not eligible for incentives; or ”Å ›Ñ` ¨<eØ vKGwƒ ¾}qÖ\ በƒ¨<Mድ b) waiving their right of entitlement in ›=ƒÄåÁ¨<Á” ያልሆኑትን ሳይÚUር ¾›Ñ` those areas eligible for incentives. ¨<eØ vKGw„‹ ¾›=”yeƒS”ƒ ðnÉ T¨<׃ dÁeðMÒ†¨< ¾›Ñ]~” QÔ‹ ›¡w[¨< ›=”yeƒ ¾TÉ[Ó Sw†¨< ¾}Öuk ’¨<::

3/ u²=I ›”kê ”®<e ›”kê (1) ¾}Å’ÑѨ< 3/ Notwithstanding the provision of sub-article u=•`U ’v` É`σ” Ñ´„ vKuƒ G<’@• (1) of this Article, a foreign investor KT"H@É ¨ÃU ¾’v` É`σ” ›¡ስÄ” intending to buy an existing enterprise in KSÓ³ƒ ¾T>ðMÓ ¾¨<ß vKGwƒ ØÁo¨<” order to operate it as it stands or to buy K”ÓÉ T>’>e‚` uTp[w upÉT>Á shares of an existing enterprise shall obtain ¾T>’>e‚\” ðnÉ TÓ–ƒ Õ`u•M:: prior approval from the Ministry of Trade. 4/ ¾”ÓÉ T>’>eቴር በዚህ አንቀጽ ንዑስ አንቀጽ 4/ The Ministry of Trade shall, upon receipt of a (3) መሠረት ጥያቄ ሲቀርብለት ባለሀብቱ request made in accordance with sub-article ¾T>ѳ¨< ’v` É`σ ¨ÃU አክስዮን Ñ´„ (3) of this Article, ascertain, in both cases of ›vM ¾T>J”uƒ Tu` ¾}WT^uƒ ¾Y^ transfer, that the enterprise is engaged in areas Se¡ K¨<ß vKGwƒ ¾}ðkÅ SJ’<”፣ allowed for foreign investors, the minimum capital requirement provided for in this u²=I ›ªÏ ¾}SKŸ}¨< መነሻ ካፒታል እና Proclamation and other requirements laid በንግድ ምዝገባና ፈቃድ አዋጅ የተመለከቱት down in the Commercial Registration and ሌሎች ግዴታዎች መሟላታቸውን ማረጋገጥ Business Licensing Proclamation are fulfilled. ይኖርበታል፡፡ 5/ ¾”ÓÉ T>’>e‚` u²=I ›”kê ”®<e ›”kê 5/ The Ministry of Trade shall, after (4) SW[ƒ TSMŸ‰¨<” uSS`S`፡- examining the request in accordance with sub-article (4) of this Article: G) ØÁo¨<” Ÿ}kuK¨< }Ñu=¨<” ¡õÁ a) replace the business license or register uTeŸðM ¾”ÓÉ Y^ ðnÆ” Ã}"M the share transfer, upon receipt of the ¨ÃU ¾›¡ስÄ” ´¨<¨<\” ÃS²ÓvM፤ appropriate fee, where the application ¨ÃU is found acceptable; or K) ØÁo¨<” "M}kuK¨< ÁM}kuKuƒ” b) notify to the investor its decision and U¡”Áƒ KvKGw~ uêOõ Ád¨<nM:: the reason thereof in writing, where the application is found unacceptable. gA 6ሺ5)'1 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6581 03 በአገር ውስጥ ባለሀብት ስለሚቀርብ የኢንቨስትመንት 13. Application for Investment Permit by a ፈቃድ ጥያቄ Domestic Investor T”—¨<U ¾›Ñ` ¨<eØ vKGwƒ ¾›=”yeƒS”ƒ An application for investment permit by a domestic ðnÉ KTÓ–ƒ K²=G< }Óv` ¾}²Ò˨<” investor shall be made in a form designed for such ¾TSMŸ‰ pê uSS<Lƒ ŸT>Ÿ}K<ƒ W’Ê‹ Ò` purpose and submitted to the appropriate ›Óvw LK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ u›”É investment organ together with the following pÍ= Tp[w ›Kuƒ፡- documents in one copy: 1/ TSMŸ‰¨< ¾}ð[S¨< u¨Ÿ=M ŸJ’ 1/ where the application is signed by an agent, a ¾¨<¡M“ YM×” T[ÒÑÝ c’É ö„ ¢ú፤ photocopy of his power of attorney;

2/ ›=”yeƒS”~ ¾T>"H@Ũ< uÓKcw ŸJ’ 2/ where the investment is to be made by an ¾vKGw~ ¾S¨mÁ "`É ö„ ¢ú ¨ÃU individual person, a photocopy of his identity ¾›Ñ` ¨<eØ vKGwƒ’ƒ መታወቂያ ካርድ ö„ card or a photocopy of the identity card ¢ú “ G<Kƒ ¾p`w Ñ>²? Ñ<`É ö„Ó^ö‹& evidencing his domestic investor status and his recent two passport size photographs; 3/ ›=”yeƒS”~ ¾T>"H@Ũ< u”ÓÉ T•u` 3/ where the investment is to be made by a ŸJ’ ¾T•u\ ¾SSY[‰ êOõ“ business organization, a photocopy of its ¾S}ÇÅ]Á Å”w ö„ ¢ú ¨ÃU T•u\ memorandum and articles of associations or ›Ç=e ¾T>ssU ŸJ’ Ÿ²=I u}ÚT] where the business organization is to be newly ¾Tu`}™‡ S¨mÁ "`É ö„ ¢ú established, in addition, it shall submit a ¨ÃU ¾›Ñ` ¨<eØ vKGwƒ’ƒ S•¨mÁ photocopy of the shareholders identity cards ካርድ ö„ ¢ú፤ or a photocopy of identity cards evidencing their domestic investor status; 4/ ›=”yeƒS”~ ¾T>"H@Ũ< uS”ÓYƒ 4/ where the investment is to be made by a ¾MTƒ É`σ ŸJ’ É`Ï~ ¾}ssSuƒ public enterprise, a photocopy of the Å”w ö„ ¢ú ¨ÃU ¾SSY[‰ êOõ“ regulation under which it is established or a ¾S}ÇÅ]Á Å”w ö„ ¢ú፤ photocopy of its memorandum and articles of associations; 5/ ›=”yeƒS”~ ¾T>"H@Ũ< uw[ƒ Y^ 5/ where the investment is to be made by a Tu` ŸJ’ ¾Tu\ ¾S}ÇÅ]Á Å”w ö„ cooperative society, a photocopy of its articles ¢ú፡፡ of association. 04 በውጭ ባለሀብት ስለሚቀርብ የኢንቨስትመንት ፈቃድ 14. Application for Investment Permit by a ጥያቄ Foreign Investor 1/ T”—¨<U ¾¨<ß vKGwƒ ›Ç=e 1/ Application for investment permit by a ¾›=”yeƒS”ƒ ðnÉ KTÓ–ƒ K²=G< }Óv` foreign investor shall be made in a form ¾}²Ò˨<” ¾TSMŸ‰ pê uSS<Lƒ designed for such purpose and submitted to ከሚከተሉት W’Ê‹ Ò` K›?Ë”c=¨< uአንድ pÍ= the Agency together with the following Tp[w Õ`u•M፡- documents in one copy: ሀ) TSMŸ‰¨< ¾}ð[S¨< u¨Ÿ=M ŸJ’ a) where the application is signed by an ¾¨<¡M“ YM×” T[ÒÑÝ c’É ö„ agent, a photocopy of his power of ¢ú፤ attorney; ለ) ›=”yeƒS”~ ¾T>"H@Ũ< uÓKcw ŸJ’ b) where the investment is to be made by ¾vKGw~” T”’ƒ ¾T>Ád¿ አግባብነት an individual person, a photocopy of ያላቸው የì“ ûeþ`ƒ Ñë‹ ö„ ¢ú “ the relevant pages of a valid passport G<Kƒ ¾p`w Ñ>²? Ñ<`É ö„Ó^ö‹፤ showing his identity and his recent two passport size photographs;

gA 6ሺ5)'2 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6582 ሐ) እንደውጭ ባለሀብት መቆጠር የፈለገ መደበኛ c) where the investment is to be made by an ነዋሪነቱ በውጭ አገር የሆነ ኢትዮጵያዊ ከሆነ Ethiopian permanently residing abroad, በውጭ አገር ነዋሪ መሆኑን የሚገልጽ ሰነድ preferring treatment as a foreign investor, ፎቶ ኮፒ፤ a photocopy of a document evidencing that he is residing abroad; መ) ›=”yeƒS”~ ¾T>"H@Ũ< ›=ƒÄåÁ ¨<eØ d) where the investment is to be made by a u}ssS ¾”ÓÉ Tu` ŸJ’:- business organization incorporated in Ethiopia: (1) ¾T•u\ ¾SSY[‰ êOõ“ (1) a photocopy of its memorandum and ¾S}ÇÅ]Á Å”w ö„ ¢ú ¨ÃU articles of associations or where it is T•u\ ›Ç=e ¾T>ssU ŸJ’ Ÿ²=I to be newly established, in addition, u}ÚT] ¾Á”ǔƔ ¾Tuር ›vል it shall submit a photocopy of the T”’ƒ ¾T>Ádà አግባብነት ያላቸው relevant pages of a valid passport of ¾ì“ ûeþ`ƒ Ñë‹ ö„ ¢ú እና each shareholder showing his የማኅበሩ ሥራ አስኪያጅ የቅርብ ጊዜ identity and recent two passport size ሁለት ጉርድ ፎቶግራፎች፤ photographs of the general manager; (2) where there is a foreign national (2) በማኅበሩ ውስጥ እንደ አገር ውስጥ treated as a domestic investor in the ባለሀብት የተቆጠረ የውጭ ዜጋ ካለ business organization, a photocopy የአገር ውስጥ ባለሀብትነት መታወቂያ of the identity card evidencing the ካርድ ፎቶ ኮፒ፤ domestic investor status; (3) በማኅበሩ ውስጥ የንግድ ማኅበር ወይም (3) where there is a juridical person or a የውጭ አገር ቅርንጫፍ ማኅበር ካለ branch of a foreign juridical person in የመመሥረቻ ጽሑፍና የመተዳደሪያ the business organization, a photocopy ደንብ ወይም የዋና ማኅበሩ ተመሳሳይ of its memorandum of association and ሰነድ ፎቶ ኮፒ፣ የንግድ ምዝገባ ምስክር articles of association or similar documents of the parent company, ወረቀት እና ¾ª“ T•u\ YM×” commercial registration certificate and ÁK¨< ›"M u›=ƒÄåÁ ¨<eØ ኢንቨስት a photocopy of the minutes of ለማድረግ ¾¨c’uƒ nK Ñ<vዔ ö„ resolution passed by the authorized ¢ú፡፡ organ of the parent company authorizing the juridical person or the branch to invest in Ethiopia.

W) ›=”yeƒS”~ ¾T>"H@Ũ< ¨<ß ›Ñ` e) where the investment is to be made by an u}ssS ¾”ÓÉ Tu` ¾›=ƒÄåÁ Ethiopian branch of a foreign business p`”Ýõ ŸJ’፡- organization incorporated abroad: (1) ¾ዋና T•uሩ ¾SSY[‰ êOõ እና (1) a photocopy of its memorandum and articles of associations or a similar ¾S}ÇÅ]Á Å”w ¨ÃU ¾T•uሩ document of the parent company; }Sddà ሰ’É ö„ ¢ú፤ (2) a photocopy of a document attesting (2) የቅርንጫፉ ሥራ አስኪያጅ የተሾመበት the appointment of the branch ሰነድ ፎቶ ኮፒ እና የቅርብ ጊዜ ሁለት manager and his two recent passport ጉርድ ፎቶግራፎች፣ የቅርንጫፉን ወኪል size photographs, a photocopy of ማንነት የሚገልጹ አግባብነት ያላቸው the relevant pages of a valid passport የፀና ፓስፖርት ገጾች ፎቶ ኮፒ ወይም or identity card of the branch agent የመታወቂያ ካርድ ፎቶ ኮፒ እና and a photocopy of commercial የማኅበሩ የንግድ ምዝገባ የምስክር registration certificate of the ወረቀት ፎቶ ኮፒ፤ business organization; gA 6ሺ5)'3 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6583 (3) ¾ª“ T•u\ YM×” ÁK¨< ›"M (3) a photocopy of the minutes of u›=ƒÄåÁ ¨<eØ ኢንቨስት ለማድረግ resolution of the authorized organ of ¾¨c’uƒ nK Ñ<vዔ ö„ ¢ú፡፡ the parent company authorizing the establishment of a branch company in Ethiopia. [) ›=”yeƒS”~ ¾T>"H@Ũ< u›Ñ` ¨<eØ“ f) where it is a joint investment by domestic u¨<ß vKGwƒ up”σ ŸJ’ u²=I and foreign investors, in addition to the ›”kê ”®<e ›”kê (1)(መ) Ÿ}SKŸ~ƒ documents provided under sub-article c’Ê‹ u}ÚT] ”Å ›Óvu< ¾›Ñ` (1)(d) of this Article, a photocopy of the ¨<eØ vKGw~ ¾S¨mÁ "`É ö„ identity card or a photocopy of the ¢ú ¨ÃU ”Å ›Ñ` ¨<eØ vKGwƒ identity card evidencing the domestic investor status of the domestic investor, ¾}qÖ[uƒ ¾S•¨mÁ ካርድ ö„ ¢ú፤ as the case may be; ሰ) እንደአስፈላጊነቱ ኤጀንሲው ሲያምንበት g) a document evidencing the financial የባለሀብቱን የፋይናንስ አቋም ወይም position or, identity or profile of the ማንነት የሚያሳይ ማስረጃ፡፡ investor, as deemed appropriate by the Agency. 2/ በዚህ አንቀጽ ንዑስ አንቀጽ (1) የተጠቀሱት 2/ All documents under sub-article (1) of this ምንጫቸው ከኢትዮጵያ ውጭ የሆኑ ሰነዶች፣ Article whose sources are outside of Ethiopia c’Ê‹” KT[ÒÑØ YM×” vK¨< ¾¨<ß“ shall be authenticated by a foreign and ¾›Ñ` ¨<eØ ›"Lƒ መረጋገጥ ይኖርባቸዋል፡፡ domestic notary.

3/ ፈቃዱ የተጠየቀው ፕሮጀክት በማዘግየት 3/ Where the permit is requested by a person በተሰረዘበት ሰው የሆነ እንደሆነ ኤጀንሲው whose permit was cancelled due to deliance of project, the Agency shall ascertain that the ያለፈው ፕሮጀክት የዘገየበትና ፕሮጀክቱን causes of the deliance and cancellation are ለመሰረዝ ያበቁት ምክንያቶች የተስተካከሉ rectified. መሆኑን ማረጋገጥ ይኖርበታል፡፡ 05 ለማስፋፋት ወይም ለማሻሻል ስለሚቀርብ የኢንቨስትመንት 15. Application for Investment Permit for Expansion ፈቃድ ጥያቄ or Upgrading T”—¨<U vKGwƒ ¾Teóóƒ ¨ÃU ¾ThhM An application for investment permit to expand ›=”yeƒS”ƒ ðnÉ KTÓ–ƒ K²=G< }Óv` or upgrade an existing enterprise shall be made ¾}²Ò˨<” ¾TSMŸ‰ pê uSS<Lƒ in a form designed for such purpose and ŸT>Ÿ}K<ƒ ሰ’Ê‹ Ò` K›?Ë”c=¨< u›”É pÍ= submitted to the Agency together with the Tp[w ›Kuƒ፡- following documents in one copy: 1/ ¾TSMŸ‰ pè ¾}ð[S¨< u¨Ÿ=M ŸJ’ 1/ where the application is signed by an agent, ¾¨<¡M“ YM×” T[ÒÑÝ c’É ö„ ¢ú፤ a photocopy of his power of attorney; 2/ ኢንቨስትመንቱ የሚካሄደው በግለሰብ ከሆነ 2/ where the investment is made by a sole እንደሁኔታው የባለሀብቱን ማንነት የሚያሳዩ proprietor, a photocopy of the relevant አግባብነት ያላቸው የፀና ፓስፖርት ገጾች ፎቶ pages of his valid passport or an identity ኮፒ ወይም እንደ አገር ውስጥ ባለሀብት card of his domestic investor status or a የተቆጠረበት መታወቂያ ካርድ ፎቶ ኮፒ እና photocopy of his identity card and his two የቅርብ ጊዜ ሁለት ጉርድ ፎቶግራፎች፤ recent passport size photographs, as the case may be; gA 6ሺ5)'4 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6584 3/ ›=”yeƒS”ቱ ¾T>"H@Ũ< u”ÓÉ Tu` ŸJ’ 3/ where the investment is made by a business ¾T•u\ ¾SSY[‰ êOõ“ ¾S}ÇÅ]Á organization, a photocopy of the company’s Å”w ö„ ¢ú እና የማኅበሩ ሥራ አስኪያጅ memorandum and articles of associations and የቅርብ ጊዜ ሁለት ጉርድ ፎቶግራፎች፤ two recent passport size photographs of the general manager; 4/ ¾’v` É`Ï~ ¾ì“ ¾”ÓÉ Y^ ðnÉ ö„ 4/ a photocopy of a valid business license of ¢ú& እና the existing enterprise; and 5/ ¾ýaË¡ƒ ›ªÜ’ƒ Ø“ƒ ö„ ¢ú:: 5/ a photocopy of project feasibility study.

06 ስለኢንቨስትመንት ፈቃድ አሰጣጥ 16. Issuance of Investment Permit 1/ ›Óvw ÁK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ 1/ Upon receipt of an application made in ¾›=”yeƒS”ƒ ðnÉ TSMŸ‰¨< u²=I accordance with Article 13, Article 14 or አªÏ ›”kፅ 03' አንቀፅ 04 ወይም አንቀፅ 05 Article 15 of this Proclamation, the }M„ ሲቀርብለት uvKGw~ K="H@É appropriate investment organ shall, after ¾kŨ<” ¾›=”yeƒS”ƒ Y^ Ÿ²=I examining the intended investment activity አªÏ“ አªÌ” KTeðçU ŸT>¨Ö< Å”x‹“ in light of this Proclamation, and regulations and directives issued hereunder: SS]Á­‹ ›”í` uSS`S`፡- a) issue investment permit upon receipt of G) TSMŸ‰¨<” Ÿ}kuK¨< }Ñu=¨<” ¾›ÑMÓKAƒ ¡õÁ uTeŸðM KvKGw~ the appropriate fee, where the ¾›=”yeƒS”ƒ ðnÉ Ãc×M፤ ¨ÃU application is found acceptable; or b) notify the investor of its decision and K) TSMŸ‰¨<” "M}kuK¨< ÁM}kuKuƒ” U¡”Áƒ KvKGw~ uêOõ Ád¨<nM:: the reason thereof in writing, where the application is found unacceptable. 2/ ›Óvw ÁK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ 2/ The appropriate investment organ shall, ¾›=”yeƒS”ƒ ðnÆ” ŸcÖ uL after issuing the investment permit, notify K›eðLÑ>¨< ¡ƒƒM KT>SKŸ†¨< the concerned institutions so that the latter SY]Á u?„‹ Ád¨<nM:: could conduct the necessary follow up. 3/ ¾›=”yeƒS”ƒ ðnÉ ¾}WÖ¨< vKGwƒ 3/ A holder of an investment permit may not be ¾›=”yeƒS”ƒ ýaË¡~” ›Ö“q TU[ƒ required to obtain a business license until the ¨ÃU ›ÑMÓKAƒ SeÖƒ eŸT>ËU`uƒ commencement of production or rendering of Ñ>²? É[e ¾”ÓÉ Y^ ðnÉ ”Ç=Á¨× service upon completion of his project. ›ÃÖ¾pU:: 4/ ›Óvw ÁK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ 4/ An investment permit may not be transferred uêOõ dÃðpÉ ¾›=”yeƒS”ƒ ðnÉ” to another person without prior written KK?L c¨< Te}LKõ ›Ã‰MU:: approval of the appropriate investment organ. 5/ ¾›=”yeƒS”ƒ ðnÉ KK?L c¨< c=}LKõ 5/ Where an investment permit is transferred ¨ÃU uò~ K?KA‹ K¨<Ù‹ c=Å[Ñ< ›Óvw to another person or where any change is LK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ k`x made in its content, it shall be submitted to SðkÉ Ã•`u•M:: the appropriate investment organ for approval. 6/ T”—¨<U vKGwƒ በማናቸውም ጊዜ የአገር 6/ No investor may, at any time, be allowed to ውስጥ እና የውጭ ባለሀብት ጣምራ invest by holding both a domestic and a የኢንቨስትመንት ፈቃዶችን በመያዝ ኢንቨስት foreign investment permit. ማድረግ አይችልም፡፡

gA 6ሺ5)'5 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6585 07 ስለኢንቨስትመንት ፈቃድ ዕድሳት 17. Renewal of Investment Permit 1/ ¾›=”yeƒS”ƒ ðnÉ vKGw~ U`ቱን ¨ÃU 1/ An investment permit shall be renewed ›ÑMÓKA~” KÑuÁ Tp[w eŸT>ËU`uƒ Ñ>²? every year until the investor commences the É[e uየዓመቱ SÅe ›Kuƒ:: marketing of his products or services. 2/ ¾›=”yeƒS”ƒ ðnÉ KTሳÅe ¾T>k`w 2/ An application for renewal of an investment TSMŸ‰ ðnÆ ¾T>ÁÑKÓMuƒ ¾አንድ ዓመት permit shall be submitted and renewed with Ñ>²? ”ÇKk በአንድ ወር ጊዜ ውስጥ ቀርቦ in one month after the end of a period of መታደስ ›Kuƒ:: one year for which the permit remains valid. 3/ ›Óvw ÁK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ 3/ The appropriate investment organ shall renew vKGw~ ¾ýaË¡ƒ ƒÓu^¨<” K=ËU` the investment permit, where satisfied, as to ¨ÃU K=Ú`e ÁM‰K¨< uum U¡”Áƒ the existence of sufficient cause for the delay SJ’<” c=ÁU”uƒ ðnÆ” ÁÉeK•M:: in the commencement or completion of his project implementation. 4/ ¾²=I ›”kê ”®<e ›”kê (1) É”ÒÑ@ u=•`U 4/ Notwithstanding the provision of sub-article ማንኛውም vKGwት ðnድ Ÿ¨cÅuƒ Ñ>²? (1) of this Article, any investor who has not ËUa ¾ýaË¡~” ƒÓu^ dÃËU` G<Kƒ commenced implementing his project within ¯Sƒ "Kð¨< ÁKU”U pÉS G<’@• two years since the issuance of the investment ¾›=”yeƒS”ƒ ðnÆ ÃW[³M:: permit, shall have his permit cancelled without any precondition. 08 በትግበራ ላይ የሚገኝ የኢንቨስትመንት ፕሮጀክትን 18. Transfer of an Investment Project Under ስለማስተላለፍ Implementation Phase 1/ የንግድ ሥራ ፈቃድ ከማውጣቱ በፊት በትግበራ 1/ Any investor wishing to transfer his project, ላይ የሚገኝ የኢንቨስትመንት ፕሮጀክቱን ለሌላ which is under implementation phase and for ባለሀብት ማስተላለፍ የሚፈልግ ማንኛውም which a business license is not yet issued, to ባለሀብት ጥያቄውን ለዚሁ ዓላማ በተዘጋጀ ቅፅ another investor shall submit his request, by filling an application form designed for this ሞልቶ አግባብ ላለው የኢንቨስትመንት አካል purpose, to an appropriate investment organ በማቅረብ ማስፈቀድ ይኖርበታል፡፡ and get the approval of same. 2/ ባለሀብቱ በዚህ አንቀጽ ንዑስ አንቀጽ (1) 2/ The investor shall submit, together with his ከሚቀርብ ማመልከቻ ጋር የሚከተሉትን ሰነዶች application specified in sub-article (1) of this አያይዞ ማቅረብ ይኖርበታል፡- Article, the following documents: ሀ) የታደሰ የኢንቨስትመንት ፈቃድ ፎቶ ኮፒ፤ a) a photocopy of renewed investment permit;

ለ) ሰነዶችን ለማረጋገጥ ሥልጣን ባለው አካል b) a photocopy of the sales agreement የተረጋገጠ የሽያጭ ስምምነት ፎቶ ኮፒ፤ authenticated by a notary; ሐ) እንደ ሁኔታው ለፕሮጀክቱ ማስፈጸሚያ በሊዝ c) a photocopy of land lease agreement የተረከበው መሬት ለገዢው የተላለፈበት ሰነድ transferred to the buyer as the case may ፎቶ ኮፒ፡፡ be. 09 የኢንቨስትመንት ፈቃድን ስለማገድ ወይም ስለመሰረዝ 19. Suspension or Revocation of Investment Permit 1/ vKሀw~ ÃI” አªÏ ¨ÃU ÃI” አªÏ 1/ Where an investor violates the provisions of KTeðçU ¾¨Ö< Å”x‹” ¨ÃU SS]Á­‹” this Proclamation or regulations or directives ¾×c ”ÅJ’ ›eðLÑ>¨<” ¾Te}"ŸÁ `UÍ issued to implement this Proclamation, the eŸ=¨eÉ É[e ›Óvw ÁK¨< ¾›=”yeƒS”ƒ appropriate investment organ may suspend the SY]Á u?ƒ ¾›=”yeƒS”ƒ ðnÆ” investment permit until the investor takes due K=ÁÓÉuƒ ËLM:: corrective measures. gA 6ሺ5)'6 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6586 2/ ›Óvw ÁK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ 2/ The appropriate investment organ may ŸT>Ÿ}K<ƒ U¡”Á„‹ ›”Æን u}Úvß revoke an investment permit where it ሲያ[ÒግØ ¾›=”yeƒS”ƒ ðnዱ” K=W`´ ascertains that: ËLM፡- G) vKGw~ ¾›=”yeƒS”ƒ ðnÆ” ÁÑ–¨< a) the investor obtained the permit uT•KM ¨ÃU ¾Nሰƒ S[Í ¨ÃU fraudulently or by submitting false SÓKÝ uTp[w ŸJ’፤ information or statements; K) ¾}WÖ<ƒ Tu[‰­‹ ŸkÅL†¨< b) incentives granted are misused or illegally transferred to another person; ¯LT ¨<ጭ ¨<K¨< ¨ÃU ŸQÓ ¨<ß KK?L c¨< }LMð¨< Ÿ}Ñ–<፤ N) vKGw~ ÁKum U¡”Áƒ u²=I አªÏ ›”kê c) the investor has failed, without good 07 u}Å’ÑѨ< SW[ƒ ¾›=”yeƒS”ƒ cause, to renew the permit in accordance ðnÆ” ÁLdÅc ”ÅJ’& with Article 17 of this Proclamation; S) vKGw~ eKýaË¡~ ›ðéçU u}Ÿ••Ã d) the investor fails to submit progress KG<Kƒ Ñ>²? ¾T>Öupuƒ” ]þ`ƒ ÁLk[u report of his project for two consecutive ŸJ’፤ ¨ÃU periods; or ሠ) የፕሮጀክቱ ትግበራ ተጀምሮ በጊዜው e) the project can not commence operation ካልተጠናቀቀ እና ኤጀንሲውም ፕሮጀክቱ with in the period and the Agency believes እንደማይጠናቀቅ ሲያምንበት፡፡ the project will not be operational. 3/ አግባብ ያለው የኢንቨስትመንት መሥሪያ ቤት u²=I 3/ The appropriate investment organ shall notify ›”kê SW[ƒ ¾T>ÁÅ`Ѩ<” ¾›=”yeƒS”ƒ the concerned institutions as to the measures ðnÉ e[³ `UÍ KT>SKŸ†¨< ›"Lƒ of revocation taken in accordance with this Ád¨<nM:: ¾›=”yeƒS”ƒ ðnÉ ¾}c[²uƒ Article. Upon revocation of an investment vKሀwƒ ðnÆ Ÿ}c[²uƒ k” ËUa c=Áј permit, the investor shall immediately lose ¾’u[¨< ØpU ¨Ç=Á¨<’< Ãs[Øu•M:: entitlements to all benefits. 4/ ðnÆ ¾}W[²uƒ vKGwƒ uTu[‰’ƒ ÁÑ— 4/ An investor whose investment permit is †¨<” ØpV‹ ðnÆ Ÿ}W[²uƒ k” ËUa revoked shall return, within one month as of u›”É ¨` Ñ>²? ¨<eØ K›=ƒÄåÁ Ñu=­‹“ the day of revocation, all the benefits granted Ñ<U\¡ vKYM×” “ ›Óvw’ƒ LL†¨< to him to the Ethiopian Revenue and Customs K?KA‹ ›"Lƒ }SLi ÁÅ`ÒM:: Authority and other appropriate organs. 5/ ¾›=”yeƒS”ƒ ðnÉ ðnÆ” ŸcÖ¨< 5/ An investment permit may not be suspended ¾›=”yeƒS”ƒ SY]Á u?ƒ ¨<ጭ uK?L T”— or revoked by any organ other than the ¨<U ›"M K=ÑÉ ¨ÃU K=W[´ ›Ã‹MU:: appropriate investment organ having issued same. 6/ የኢንቨስትመንት ፈቃዱ የተሠረዘበት ባለሀብት 6/ An investor whose investment permit is ከአንድ ዓመት በፊት አዲስ የኢንቨስትመንት revoked may not be issued with a new ፈቃድ ማውጣት አይችልም፡፡ investment permit before the lapse of one year from the date of revocation. ! ሪፖርት ስለማድረግና ስለመተባበር 20. Duty to Report and Cooperate የኢንቨስትመንት ፈቃድ ያወጣ ማንኛውም ባለሀብት፡- Any investor with investment permit shall: 1/ eK›=”yeƒS”~ ¾›ðéçU H>Ń u¾Zeƒ 1/ submit progress reports on the implementation ¨\ ›Óvw LK¨< ¾›=”yeƒS”ƒ SY]Á of his project to the appropriate investment u?ƒ ሪþ`ƒ Tp[w፤ “ organ at the end of every three months; and

gA 6ሺ5)'7 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6587 2/ አÓvw vK¨< ¾ኢንቨስትመንት መሥሪያ ቤት 2/ provide information concerning his c=Ö¾p eKT>Á"H>Ũ< ¾›=”yeƒS”ƒ investment activities whenever required by ”penc? S[Í SeÖƒ፤ the appropriate investment organ. ›Kuƒ:: ¡õM ›Ueƒ PART FIVE eK‚¡•KAÍ= iÓÓ` eUU’ƒ “ ¾›Ñ` ¨<ስጥ vKGwƒ REGISTRATION OF TECHNOLOGY Ÿ¨<ß ›=”}`ý^ô Ò` eKT>ÁÅ`Ѩ< ¾ƒww` TRANSFER AND COLLABORATION eUU’ƒ U´Ñv AGREEMENTS WITH DOMESTIC INVESTERS !1 ስለቴክኖሎጂ ሽግግር ስምምነት 21. Technology Transfer Agreement 1/ T”—¨<U vKሀwƒ Ÿ›=”yeƒS”~ Ò` 1/ Where any investor concludes a technology u}ÁÁ² ¾‚¡•KAÍ= iÓÓ` eUU’ƒ transfer agreement related to his investment, uT>ªªMuƒ Ñ>²? eUU’~” K›?Ë”c=¨< he shall submit same to the Agency for uTp[w TeS´Ñw ›Kuƒ:: registration. 2/ በዚህ አንቀጽ መሠረት የሚቀርብ የቴክኖሎጂ 2/ An application for registration of a technology ሽግግር ስምምነት ምዝገባ ጥያቄ የሚከተሉትን transfer agreement submitted in accordance ማሟላት ይኖርበታል፡- with this Article shall fulfill the following: G) በቴክኖሎጂ ተቀባዩ የተፈረመ የተሟላ a) a completed application form signed by የማመልከቻ ቅጽ፤ the recipient of the technology; K) በቴክኖሎጂ ተቀባይና አቅራቢው መካከል b) a photocopy of the authenticated የተደረገ የተረጋገጠ የስምምነት ሰነድ ፎቶ agreement between the recipient and ኮፒ፤ provider of the technology; N) ¾ቴክኖሎጂ ተቀባዩ የፀና የንግድ ሥራ c) a photocopy of a valid business license ፈቃድ ወይም የኢንቨስትመንት ፈቃድ ፎቶ or investment permit of the recipient of the technology; and ኮፒ፤ እና d) a certificate of registration or business S) የቴክኖሎጂ አቅራቢው የንግድ ምዝገባ ወይም license of the provider of the technology. የንግድ ሥራ ፈቃድ ማስረጃ፡፡ 3/ ›?Ë”c=¨< u²=I ›”kê ”®<e ›”kê (2) 3/ The Agency shall, upon receipt of a complete SW[ƒ ¾U´Ñv TSMŸ‰¨< }TEM„ application for registration in accordance with c=k`wKƒ ¾U´Ñv Te[ͨ<” KvKሀw~ sub-article (2) of this Article, issue a ÃW×M:: certificate of registration to the investor. 4/ u²=I ›”kê SW[ƒ u›?Ë”c=¨< ÁM}S²Ñu 4/ A technology transfer agreement which is not ¾‚¡•KAÍ= iÓÓ` eUU’ƒ QÒ© ¨<Ö?ƒ registered with the Agency in accordance with ›Ã•[¨<U:: this Article shall have no legal effect.

5/ ኤጀንሲው በዚህ አንቀጽ መሠረት 5/ The Agency shall notify the relevant federal የሚያደርገውን የቴክኖሎጂ ሽግግር ስምምነት executive organs the registration of technology transfer agreement made in ምዝገባ ለሚመለከታቸው የፌዴራል መንግሥት accordance with this Article. አስፈጻሚ አካላት ያሳውቃል፡፡ gA 6ሺ5)'8 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6588 !2 ከወጪ ንግድ ጋር በተያያዘ የውጭ ኢንተርፕራይዝ 22. Export-Oriented Non-Equity Based Foreign የሀብት መዋጮ ሳያደርግ ስለሚያደርገው የትብብር Enterprise Collaboration Agreement ስምምነት 1/ ማንኛውም የአገር ውስጥ ባለሀብት ከወጪ ንግድ 1/ Any domestic investor concluding a ጋር በተያያዘ የሀብት መዋጮ ከማያደርግ ¾¨<ß collaboration agreement with export- ›=”}`ý^ô Ò` የሚፈጽመውን የትብብር oriented non-equity based foreign enterprise ስምምነት ለኤጀንሲው በማቅረብ ማስመዝገብ shall register same with the Agency. አለበት፡፡ 2/ በዚህ አንቀጽ መሠረት የሚቀርብ የትብብር 2/ An application for registration of a ስምምነት ምዝገባ ጥያቄ የሚከተሉትን ማሟላት collaboration agreement made in accordance ይኖርበታል፡- with this Article shall fulfill the following: ሀ) በአገር ውስጥ ባለሀብቱ የተፈረመ የተሟላ a) a completed application form signed የማመልከቻ ቅጽ፤ by the domestic investor; b) a photocopy of the authenticated ለ) በአገር ውስጥ ባለሀብቱና በውጭ collaboration agreement between the ኢንተርኘራይዙ መካከል የተደረገ የተረጋገጠ domestic investor and the foreign ስምምነት ሰነድ ፎቶ ኮፒ፤ enterprise; ሐ) የአገር ውስጥ ባለሀብቱ የፀና የንግድ ሥራ c) a photocopy of a valid business ፈቃድ ወይም የኢንቨስትመንት ፈቃድ ፎቶ license or an investment permit of the ኮፒ፤ እና domestic investor; and መ) የውጭ ኢንተርፕራይዙ የንግድ ምዝገባ d) a business registration certificate or a ወይም የንግድ ሥራ ፈቃድ ማስረጃ፡፡ business license of the foreign enterprise. 3/ ›?Ë”c=¨< u²=I ›”kê u”®<e ›”kê (2) 3/ The Agency shall, upon receipt of a complete SW[ƒ ¾U´Ñv TSMŸ‰¨< }TEM„ registration application in accordance with c=k`wKƒ ¾U´Ñv Te[ͨ<” KvKሀw~ sub-article (2) of this Article, issue the ÃW×M:: certificate of registration to the investor. 4/ u²=I ›”kê SW[ƒ u›?Ë”c=¨< ÁM}S²Ñu 4/ A collaboration agreement not registered የትብብር eUU’ƒ QÒ© ¨<Ö?ƒ ›Ã•[¨<U:: with the Agency in accordance with this Article shall have no legal effect. 5/ ኤጀንሲው በዚህ አንቀጽ መሠረት የሚያደርገውን 5/ The Agency shall notify the relevant federal የትብብር ስምምነት ምዝገባ ለሚመለከታቸው executive organs the registration of the አስፈጻሚ አካላት ያሳውቃል፡፡ collaboration agreement made in accordance with this Article. ¡õM eÉeƒ PART SIX eK›=”yeƒS”ƒ Tu[‰­‹፣ ªeƒ““ Øun INVESTMENT INCENTIVES, GUARANTEES AND PROTECTION

!3 ስለኢንቨስትመንት ማበረታቻዎች 23. Investment Incentives 1/ u²=I ›ªÏ ›”kê 5 ¾}SKŸ~ƒ” 1/ Areas of investment specified by regulation to ¾›=”yeƒS”ƒ ¯LT­‹ SW[ƒ uTÉ[Ó be issued by the Council of Ministers pursuant uT>’>eƒa‹ U¡` u?ƒ uT>¨× Å”w to the investment objectives stated under }KÃ}¨< ¾T>¨c’< የሥራ Se¢‹ Tu[‰ Article 5 of this Proclamation shall be eligible KTÓ–ƒ wl ÃJ“K<:: for investment incentives. gA 6ሺ5)'9 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6589 2/ u²=I ›”kê ”®<e ›”kê (1) SW[ƒ 2/ The regulation to be issued pursuant to sub- ¾T>¨×¨< Å”w ¾T>WÖ<ƒ” Tu[‰­‹ article (1) of this Article shall determine the ¯Ã’ƒ“ SÖ” èe“M:: type and extent of the entitlement to incentives. !4 የማይንቀሳቀስ ንብረት ባለቤት ስለመሆን 24. Ownership of Immovable Property 1/ በፍትሐብN?ር ሕግ ከአንቀፅ 3)( እስከ 1/ Notwithstanding the provisions from Article አንቀጽ 3)(3 የተደነገገው ቢኖርም የውጭ 390 to Article 393 of the Civil Code a foreign ባለሀብት ወይም እንደ አገር ውስጥ ባለሀብት investor or a foreign national treated as የተቆጠረ የውጭ ዜጋ የመኖሪያ ቤትና domestic investor shall have the right to own a dwelling house and other immovable property ለኢንቨስትመንቱ ሥራ የሚያስፈልገው requisite for his investment. ንብረት ባለቤት ለመሆን ይችላል፡፡ 2/ በዚህ አንቀጽ ንዑስ አንቀጽ (1) የተደነገገው 2/ The provisions of sub-article (1) of this Article ይህ አዋጅ ከመውጣቱ በፊት ኢንቨስት shall also include those who have invested ያደረጉትንም ባለሀብቶች ይጨምራል:: prior to the issuance of this Proclamation. !5 ስለኢንቨስትመንት ዋስትናና ጥበቃ 25. Investment Guarantees and Protection 1/ K›=”yeƒS”ƒ ¾ªK ሀwƒ KQ´w ØpU 1/ No investment may be expropriated or c=vM“ uQÓ u}Å’ÑѨ< SW[ƒ "MJ’ nationalized except for public interest and ue}k` K=¨cÉ ¨ÃU K=¨[e ›Ã‹MU:: then, only in conformity with the requirements of the law. 2/ K›=”yeƒS”ƒ ¾ªK ሀwƒ KQ´w ØpU 2/ Adequate compensation, corresponding to the }wKA c=¨cÉ ¨ÃU c=¨[e u¨p~ ¾ÑuÁ prevailing market value, shall be paid in ªÒ }S×ט ¾J’ "ሣ upÉT>Á SŸðM advance in case of expropriation or ›Kuƒ:: nationalization of an investment for public interest. 3/ ለዚህ አንቀፅ አላማ “መውረስ” የሚለው ቃል 3/ For the purpose of this Article the word “መውሰድ” ከሚለው ጋር በተለዋዋጭነት “nationalization” shall be used interchangeably በጥቅም ላይ የዋለ ሲሆን እርምጃውም ተገቢ with the word “expropriation” and results in the payment of appropriate or adequate ወይም ተመጣጣኝ የካሳ ክፍያን ያስከትላል፡፡ compensation.

!6 ገንዘብ ወደውጭ አገር ስለማዛወር 26. Remittance of Funds 1/ T”—¨<U ¾¨<ß vKሀwƒ Ÿ}ðkÅKƒ 1/ Any foreign investor shall have the right, in ኢ”yeƒS”ƒ Ò` u}ÁÁ² ¾T>Ÿ}K<ƒ” respect of his approved investment, to make the following remittances out of Ethiopia in ¡õÁ­‹ በወቅቱ vK¨< ¾U”³_ }S” convertible foreign currency at the prevailing SW[ƒ u¨<ß U”³_ Ÿ›=ƒÄåÁ ¨<ß rate of exchange on the date of remittance: KT³¨` ËLM፡- G) ከ›=”yeƒS”~ ÁÑ–¨<” ƒ`õ“ ¾ƒ`õ a) profits and dividends accruing from the É`h፤ investment; K) Ÿ¨<ß ›Ñ` LÑ–¨< wÉ` ª“ Ñ”²w“ b) principal and interest payments on ¨KÉ ¡õÁ፤ external loans; N) u²=I አªÏ ›”kê !1 SW[ƒ c) payments related to a technology transfer ካስመዘገበው ¾‚¡•KAÍ= iÓÓ` eUU’ƒ agreement registered in accordance with Article 21 of this Proclamation; Ò` ¾}ÁÁ² ¡õÁ፤ gA 6ሺ5)( ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6590 S) u²=I አªÏ ›”kê !2 SW[ƒ d) payments related to a collaboration ካስመዘገበው የትብብር ስምምነት ጋር agreement registered in accordance የተያያዘ ክፍያ& with Article 22 of this Proclamation; W) ›¡ስÄ” K›Ñ` ¨<eØ vKሀwƒ c=Á³¨<` e) proceeds from the transfer of shares or ¨ÃU É`Ï~” uŸòM u›Ñ` ¨<eØ of partial ownership of the enterprise to vKሀwƒ vKu?ƒ’ƒ Y` c=ÁÅርÓ ÁÑ–¨< a domestic investor; Ñ”²w& ረ) É`Ï~ c=gØ ¨ÃU ð`f H>Xu< c=×^ f) proceeds from the sale or liquidation of ¾T>ÁÑ–¨< Ñu=፤ እና the enterprise; and ሰ) u²=I አªÏ ›”kê !5(2) SW[ƒ g) compensation paid to an investor ¾T>ðçU ¾"X ¡õÁ:: pursuant to Article 25(2) of this Proclamation. 2/ u²=I ›”kê ንዑስ አንቀጽ (1) የተመለከተው 2/ Notwithstanding the provision of sub- ቢኖርም በቅንጅት በተደረገ ኢንቨስትመንት article (1) of this Article, a local partner in ተሳታፊ የሆነ የአገር ውስጥ ባለሀብት ገንዘብ a joint investment may not be allowed to ወደ ውጭ ማዛወር አይፈቀድለትም፡፡ remit funds out of Ethiopia. 3/ Expatriates employed in an enterprise may 3/ u›”É É`σ ¨<eØ }kØ[¨< ¾T>W\ remit, in convertible foreign currency, ¾¨<ß ›Ñ` ²?Ô‹ ካÑ–<ƒ ÅS¨´“ K?KA‹ salaries and other payments accruing from ¡õÁ­‹ ¾›Ñ]~ ¾¨<ß U”³] QÓ uT>ðpŨ< SW[ƒ ¨Å ¨<ß ›Ñ` SL¡ their employment in accordance with the ËLK<:: foreign exchange laws of the country.

¡õM cvƒ PART SEVEN ¾›=”yeƒS”ƒ ›e}ÇÅ` INVESTMENT ADMINISTRATION !7 የኢንቨስትመንት አስተዳደር አካላት 27. Investment Administration Organs ¾›=”yeƒS”ƒ ›e}ÇÅ` ›"Lƒ ›?Ë”c=¨<ንና The organs of investment administration u¡MM QÔ‹ ¾T>¨c’< ¾¡MM ›=”yeƒS”ƒ comprise the Agency and regional investment ›"Lƒ” ÁÖnMLM:: organs to be defined by the laws of the respective regions. !8 የኤጀንሲው ሥልጣንና ተግባር 28. Powers and Duties of the Agency ኤጀንሲው:- The Agency shall: 1/ የኢንቨስትመንት ጉዳዮችን በተመለከተ 1/ serve as a nucleus for matters of investment በማዕከልነት በማገልÑል የኢንቨስትመንት and promote, coordinate and enhance እንቅስቃሴዎችን ያበረታታል፣ ያስተባብራል፣ activities thereon; ያስፋፋል፤ 2/ ምቹና ተወዳዳሪ የኢንቨስትመንት ከባቢ 2/ initiate policy and implementation measures እንዲኖር ለማድረግ የሚወሰዱ የፖሊሲና needed to create a conducive and የአፈፃፀም ሀሳቦችን ያመነጫል፣ ሲፈቀድም competitive investment climate and follow ተግባራዊ ያደርጋል፤ up the implementation of same upon approval; gA 6ሺ5)(1 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6591 3/ የውጭ ኢንቨስትመንቶች ሊመጡ ከሚችሉባቸው 3/ negotiate bilateral investment promotion and አገሮች ጋር አገሪቱ የምታደርጋቸውን የሁለትዮሽ protection treaties with other countries where የኢንቨስትመንት ማስፋፊያና ጥበቃ ስምምነቶች potential investment is likely to flow into the ይደራደራል፣ በሚኒስትሮች ምክር ቤት country and sign same upon approval by the Council of Ministers; ሲፈቀድም ይፈርማል፤ 4/ ኢንቨስትመንትን ለማስፋፋትና ለማበረታታት 4/ prepare and distribute pamphlets, brochures, እንዲሁም የአገሪቱን መልካም ገጽታ films and other materials, and organize ለመገንባት የሚረዱ ጽሑፎችን እና such activities as exhibitions, workshops ፊልሞችን ያዘጋጃል፣ ያሠራጫል፤ ዓውደ and seminars locally or abroad as may be ርዕዮችን፣ ዓውደ ጥናቶችንና ሴሚናሮችን appropriate, participate in similar activities እንደአስፈላጊነቱ በአገር ውስጥና በውጭ አገር and conduct trainings with a view to encourage and promote investment and ያካሂዳል፤ በተዘጋጁ ተመሳሳይ ፕሮግራሞች build the image of the country; ላይ ይሳተፋል፤ ሥልጠናዎችን ይሰጣል፤

5/ ኢንቨስትመንትን ለማስፋፋት በባለሀብቶች፣ 5/ realize liaison and coordination between በመንግሥታዊ መYሪያ ቤቶች፣ በክልል investors, public offices, regional መንግሥታትና በሌሎች ኢንቨስትመንትን governments and other relevant organs, በተመለከተ አግባብነት ባላቸው አካላት መካከል with a view to enhancing investment; ግንኙነት እንዲኖር ያደርጋል፣ ያስተባብራል፤ 6/ T“†¨<”U ›=”yeƒS”ƒ ’¡ S[Í­‹ 6/ collect, compile, analyze, update and ይሰበስባል፣ ያጠናቅራል፣ ወቅታዊ ያደርጋል፣ disseminate any investment related ይተነትናል፣ ያሰራጫል፤ information; 7/ ተጨባጭ የኢንቨስትመንት ዕድል መግለጫዎችን 7/ prepare and promote concrete investment በማዘጋጀት ያስተዋውቃል፣ ሲጠየቅም በቅንጅት opportunity profiles, provide upon request, ለሚደረግ ኢንቨስትመንት ተሳታፊዎችን match-making service of possible joint የማገናኘት አገልግሎት ይሰጣል፤ investment partners; 8/ በተሰጠው የYልጣን ክልል መWረት 8/ issue, renew and cancel investment permits የኢንቨስትመንት ፈቃድ ይሰጣል፣ ያድሳል፣ within its jurisdiction and register ይሠርዛል፤ እንዲሁም የውጭ ባለሃብቶች ወደ investment capital brought into the country አገር ውስጥ ያስገቡትን ¾›=”yeƒS”ƒ by foreign investors; "ú•M ÃS²ÓvM፤ 9/ ከኢንቨስትመንት ጋር የተያያዙ የቴክኖሎጂ 9/ register technology transfer agreements ሽግግር ስምምነቶችን ይመዘግባል፤ related to investments; 0/ ¾¨<ß ›=”}`ý^ô ¾Gwƒ Sªà 10/ register export-oriented non-equity based dÁÅ`Ó Ÿ¨Ü ”ÓÉ Ò` u}ÁÁ² Ÿ›Ñ` collaboration agreements made between a ¨<eØ vKሀwƒ Ò` ¾T>ÁÅ`Ѩ<” ¾ƒww` domestic investor and a foreign enterprise; eUU’ƒ ÃS²ÓvM፤ 01/ የኢንቨስትመንት ፈቃድ የሰጣቸውን ባለሀብቶች 11/ monitor the implementation of investment የኢንቨስትመንት ፕሮጀክቶች አፈፃፀም projects for which it has issued permits, ይከታተላል፣ የኢንቨስትመንት ፈቃዱ የያዛቸው ensure that the terms of the investment permit ሁኔታዎች መከበራቸውንና ማበረታቻዎች are complied with and incentives granted to investors are used for the intended purposes; ለታለመላቸው ዓላማ መዋላቸውን ያረጋግጣል፤ gA 6ሺ5)(2 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6592 02/ ለባለሀብቶች የመረጃ፣ የምክር እና የቴክኒክ 12/ provide advisory service, information and ድጋፍ አገልግሎቶችን ይሰጣል፤ እንዲሁም technical support to investors and assist in the የግብዓት ትስስር እንዲኖር መረጃ የማቅረብ provision of information to ensure the existence of supply chains among investment ድጋፍ ይሰጣል፤ projects;

03/ ¾É•[-›=”yeƒS”ƒ ¾ÉÒõ“ ¡ƒƒM 13/ carry out post-investment support and Y^” K²=I ¯LT Ÿ}ssS< ›"Lƒ Ò` monitoring services in collaboration with up”σ ÃW^M& organs established for such purpose; 04/ የክልል ኢንቨስትመንት መሥሪያ ቤቶችን 14/ provide advisory service and technical ለማጠናከር የሚረዱ የምክርና የቴክኒክ support which help strengthen regional ድጋፎችን ይሰጣል፤ የጋራ የምክክር investment organs; organize joint መድረኮችን ያዘጋጃል፤ consultation forums; 05/ ባለሀብቶች በዚህ ›ªÏ“ ›ªÌ” KTeðçU 15/ raise the awareness of investors on the contents of this Proclamation and በ¨Ö< Å”x‹“ SS]Á­‹ ይዘት ላይ regulations and directives issued hereunder; የሚኖራቸው ግንዛቤ እንዲዳብር ያደርጋል፤ 16/ cause investment bottlenecks to be resolved in 06/ አግባብነት ካላቸው የመንግሥት አካላት ጋር collaboration with appropriate government በመተባበር የኢንቨስትመንት ማነቆዎች organs. እንዲፈቱ ያደርጋል፡፡ !9 የኢንቨስትመንት ቦርድ ሥልጣንና ተግባር 29. Powers and Duties of the Investment Board የኢንቨስትመንት ቦርድ፡- The Investment Board shall: 1/ የዚህን አዋጅ አፈፃፀምና የ›?Ë”c=¨<ን ሥራዎች 1/ supervise and follow up the implementation of በበላይነት ይቆጣጠራል፣ ይከታተላል፤ this Proclamation and the activities of the Agency; 2/ ከዚህ አዋጅ አፈፃፀም ጋር ተያይዘው የሚነሱ 2/ decide on policy issues arising in connection የፖሊሲ ጉዳዮች ላይ ውሳኔ ይሰጣል፤ with the implementation of this Proclamation; 3/ እንÅ›ስፈላጊነቱ ይህ አዋጅና አዋጁን 3/ recommend, as necessary, amendments to ለማስፈጸም የወጡ ደንቦች እንዲሻሻሉ ሃሳብ this Proclamation and regulations issued hereunder; ያቀርባል፤ 4/ ይህን አዋጅና በዚህ አዋጅ መሠረት የሚወጡ 4/ issue directives necessary for the ደንቦችን ለማስፈፀም የሚያስፈልጉ implementation of this Proclamation and መመሪያዎችን ያወጣል፤ regulations issued hereunder; 5/ ¾›?Ë”c=¨< ዋና ዳይሬክተር በሚሰጠው ውሳኔ 5/ decide on appeals submitted to it by ቅር የተሰኙ ባለሀብቶች በሚያቀርቡት investors against decisions of the Director ይግባኝ ላይ ይወስናል፤ General of the Agency; 6/ where necessary, forward recommendations, 6/ አስፈላጊ ሆኖ ሲገኝ በሥራ ላይ ባለው ደንብ for approval by the Council of Ministers, to መሠረት ከሚፈቀደው የተለየ ወይም grant new or additional incentives other ተጨማሪ የሆነ ማበረታቻ እንዲሰጥ than what is provided for under existing በሚኒስትሮች ምክር ቤት እንዲፈቀድ የውሳኔ regulation; ሃሳብ ያቀርባል፤

gA 6ሺ5)(3 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6593 7/ አስፈላጊ ሆኖ ሲገኝ ለአገር ውስጥ ባለሀብቶች 7/ where necessary, forward recommendations, ብቻ የተከለሉ የሥራ መስኮች ለውጭ ባለሀብት for approval by the Council of Ministers, ክፍት እንዲሆኑ በሚኒስትሮች ምክር ቤት investment areas exclusively reserved for domestic investors to be open for foreign እንዲፈቀድ የውሳኔ ሃሳብ ያቀርባል፡፡ investors. " ባለሀብቶችን በአንድ ማዕከል ስለማስተናገድ 30. One - Stop Shop Service 1/ ኤጀንሲው በዚህ አዋጅ አንቀጽ 4 መሠረት 1/ The Agency shall, in accordance with the የኢንቨስትመንት ፈቃድ ለሰጣቸው ማምረቻ relevant laws, provide one-stop shop services referred to in this Article for investors it has ኢንዱስትሪዎች መስክ ለሚሠማሩ ባለሀብቶች በዚህ issued with investment permits engaging in አንቀጽ የተመለከቱትን የአንድ ማዕከል አገልግሎቶች areas of manufacturing in accordance with አግባብ ባላቸው ሕጎች መሠረት ይሰጣል፡፡ Article 4 of this Proclamation. 2/ ኤጀንሲው ”Å ›Óvu< ¾T>SKŸ†¨<” 2/ The Agency shall provide the following ¾ôÈ^M S”ÓYƒ ¨ÃU ¾¡MM services representing the competent federal S”ÓYƒ ›eðéT> ›"Lƒ” uS¨ŸM or regional executive organs, as appropriate: ¾T>Ÿ}K<ƒ” ›ÑMÓKA„‹ ይሰጣል፡- ሀ) ከጉምሩክ ቀረጥ ነፃ የመሆን ማበረታቻን a) permitting exemption incentives from የመፍቀድ፤ the payment of customs duty; ለ) የግንባታ ፈቃድ የመስጠት፤ b) issuance of construction permit; N) ¾SSY[‰ êOõ“ ¾S}ÇÅ]Á Å”w c) notarization of memorandum and articles ”Ç=G<U ThhÁ­‹” ¾TªªM& of associations and amendments thereto; S) ¾”ÓÉ U´Ñv ¾SðìU •ና ምዝገባውን d) effecting commercial registration, and የማደስ፣ የማሻሻል፣ የመተካት ወይም renewal, amendment, replacement or የመሠረዝ፤ cancelation of same; ሠ) የንግድ ወይም የማኅበር ስም ምዝገባ e) effecting registration of trade or firm name, and amendment, replacement or የመፈጸም እና ምዝገባውን የማሻሻል፣ cancelation of same; የመተካት ወይም የመሠረዝ፤ [) K¨<ß ²?Ò }k×]­‹ ¾Y^ ðnÉ f) issuance of work permits to expatriate ¾SeÖƒ እና ፈቃዱን ¾TÅe፣ employees, and renewal, replacement, የመተካት፣ የማገድ ወይም የመሠረዝ፤ suspension or cancelation of same;

c) ¾”ÓÉ Y^ ðnÉ ¾SeÖƒ፤ g) issuance of business license; g) K¢”eƒ^¡i” Y^ }s^ጭነት Å[Í h) grading of construction contractors; ¾SeÖƒ፤ ቀ) የግብር ከፋይ መለያ ቁጥር የመስጠት፡፡ i) issuance of tax identification number (TIN ). 3/ በዚህ አንቀጽ ንዑስ አንቀጽ (2) ከፊደል ተራ 3/ Amendments, renewal, replacement and (ሐ) እስከ (ረ) ከተጠቀሱት አገልግሎቶች ጋር cancelation pertaining to the services በተያያዘ በኤጀንሲው የሚደረግ የማሻሻል፣ referred to in paragraphs (c) to (f) of sub- የማደስ፣ የመተካትና የመሠረዝ ሥራ article (2) of this Article shall only be made የሚከናወነው ባለሀብቱ የንግድ ሥራ ፈቃድ by the Agency until the investor is issued እስከሚያወጣ ድረስ ብቻ ይሆናል፡፡ with a business license. gA 6ሺ5)(4 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6594 4/ ኤጀንሲው ባለሀብቶችን ተክቶ የሚከተሉትን 4/ The Agency shall provide the following አገልግሎቶች ይሰጣል፡- services on behalf of investors: G) ባለሀብቶች ለኢንቨስትመንት ፕሮጀክቶቻቸው a) execution of investors’ requests for የሚውል መሬት ለማግኘት የሚያቀርቧቸውን land required for their investment ጥያቄዎች የማስፈጸም፤ projects; K) ¾vKGw„‹” ¾wÉ` ›ÑMÓKAƒ ØÁo­‹ b) execution of investors’ requests for ¾TeðçU& loan; N) ¾¨<ß vKGw„‹” ¾S•]Á ðnÉ c) execution of foreign investors’ requests ØÁo­‹ ¾TeðçU& for residence permits; S) vKGw„‹ u›=”yeƒS”ƒ ýaË¡„ቻቸው d) execution of investors’ requests for Là ¾}Å[Ñ< ¾›"vu= }ê• ÓUÑT approval of environmental impact Ø“„‹ ”Ç=çÉl ¾T>Ák`vD†¨<” assessment studies conducted on their ØÁo­‹ ¾TeðçU& “ investment projects; and W) ባለሀብቶች የውኃ፣ የኤሌክትሪክ ኃይልና e) execution of investors’ requests to የቴሌኮም አገልግሎቶችን ለማግኘት acquire water, electrical power and የሚያቀርቧቸውን ጥያቄዎች የማስፈጸም፡፡ telecom services. 5/ ለዚህ አንቀጽ ንዑስ አንቀጽ (4) አፈጻጸም 5/ For the implementation of sub-article (4) of የሚመለከታቸው የፌዴራል አስፈጻሚ አካላት this Article the appropriate federal ኤጀንሲው የሚያቀርበውን የባለሀብት ጥያቄዎች executive organs shall establish investment ተቀብለው በቅልጥፍና የሚያስተናግዱ desks that expedite and facilitate investors’ የኢንቨስትመንት ዴስኮችን ማቋቋም ይኖርባቸዋል፡፡ requests submitted by the Agency. The የክልል አስፈፃሚ አካላትም ይህን አሰራር regional executive organs may accept this ተቀብለው የኢንቨስትመንት ዴስኮችን ማቋቋም practice and establish investment desks. ይችላሉ፡፡

6/ በዚህ አንቀጽ ንዑስ አንቀጽ (5) የተደነገገው 6/ Without prejudice to the provision of sub- እንደተጠበቀ ሆኖ የሚመለከታቸው የፌዴራል article (5) of this Article, the appropriate ወይም የክልል አስፈጻሚ አካላት ›?Ë”c=¨< federal or regional executive organs shall u²=I ›”kê ”®<e ›”kê (4) የተመለከቱትን take measures necessary to help the Agency ኃላፊነቶች በአግባቡ እንዲወጣ አስፈላጊውን properly discharge its duties specified under sub-article (4) of this Article. ሁሉ የመፈጸም ግዴታ አለባቸው፡፡ 7/ ›?Ë”c=¨< u¾² =I ›”kê ”®<e ›”kê (2) 7/ Upon receipt of an application in SW[ƒ TSMŸ‰¨< }TEM„ c=k`wKƒ accordance with sub-article (2) of this Ñ<Ç¿” ›Óvw "K¨< QÓ ›”í` Article, the Agency shall, after examining uSS`S`፡- the request in light of the relevant laws: G) TSMŸ‰¨<” Ÿ}kuK¨< }Ñu=¨<” ¡õÁ a) issue the necessary documents, upon uTeŸðM እና እንደ ሁኔታው ባለሀብቱ receipt of the appropriate fee and causing ›Óvw’ƒ ÁL†¨<” ¾›Ñ]~” QÔ‹ the investor to enter an undertaking to Öwq KSY^ƒ Óȁ ”Ç=Ñv observe the relevant laws of the country, uTÉ[Ó ›eðLÑ>¨<” Te[Í Ãc×M፤ where the application is found acceptable; ¨ÃU or K) TSMŸ‰¨<” "M}kuK¨< ÁM}kuKuƒ” b) notify the investor of its decision and U¡”Áƒ KvKሀw~ uêOõ Ád¨<nM:: the reason thereof in writing, where the application is found unacceptable. gA 6ሺ5)(5 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6595 8/ ›?Ë”c=¨< u¾² =I ›”kê ”®<e ›”kê (2) 8/ The Agency shall, after rendering the services ¾}SKŸ~ƒ” ›ÑMÓKA„‹ ŸcÖ uºL provided for in sub-article (2) of this Article, K›eðLÑ>¨< ¡ƒƒM ›Óvw LL†¨< notify the concerned federal and regional ¾ôÈ^M“ ¾¡MM ›eðéT> ›"Lƒ Ád¨<nM:: executive organs for the necessary follow up. 9/ ¾”ÓÉ Y^ ðnÉ ”Ç=cÖ¨< ØÁo¨<” 9/ Without prejudice to the requirements to be K›?Ë”c=¨< ¾T>Ák`w vKGwƒ ›Óvw vK¨< fulfilled in accordance with the relevant laws, QÓ SW[ƒ TTELƒ ÁKuƒ Óȁ­‹ an investor submitting his request to the ”Å}Öul J’¨< የፕሮጀክቱን አዋጪነት ጥናት Agency to be issued with a business license ማቅረብ አለበት፡፡ shall furnish his project feasibility study. 0/ ¾¡MM ¾›=”yeƒS”ƒ ›"Lƒ ¾›=”yeƒS”ƒ 10/ Regional investment organs may give, to ðnÉ Kc×D†¨< vKሀw„‹ ›Óvw vL†¨< investors they have issued with investment ¾ôÈ^M“ ¾¡MM S”ÓYƒ QÔ‹ SW[ƒ permits, the one-stop shop services provided u²=I ›”kê ¾}SKŸ~ƒ” ¾›”É T°ŸM for in this Article, in accordance with the ›ÑMÓKA„‹ K=cÖ< ËLK<:: relevant federal and regional laws.

"1 ስለኢንቨስትመንት መረጃዎች 31. Investment Related Information 1/ አግባብነት ያላቸው የፌዴራሉ መንግሥት ወይም 1/ The appropriate federal and regional የክልል መንግሥታት አካላት ኤጀንሲው ወይም executive organs shall transfer complete and የክልል ኢንቨስትመንት መሥሪያ ቤቶች በዚህ updated information regarding land required አዋጅ የተሰጣቸውን ሥልጣንና ተግባር በአግባቡ for investment projects, investment capital መወጣት እንዲችሉ ለኢንቨስትመንት ፕሮጀክት brought into the country as well as other ስለሚውል መሬትና ወደ አገር ውስጥ ስለገባ necessary investment related information to የውጭ ካፒታል እንዲሁም ሌሎች አስፈላጊ፣ the Agency and regional investment organs የተሟሉና ወቅታዊ ኢንቨስትመንት ነክ in order to help them facilitate the proper መረጃዎችን ለኤጀንሲውና ለክልል ኢንቨስትመንት discharge of their powers and duties under መሥሪያ ቤቶች ማስተላለፍ አለባቸው፡፡ this Proclamation. 2/ እያንዳንዱ የክልል የኢንቨስትመንት መሥሪያ ቤት 2/ Each regional investment organ shall transmit ስለክልሉ የሀብት ክምችትና የኢንቨስትመንት to the Agency information compiled with respect to the resource potential and ዕድል የተጠናቀሩ መረጃዎችንና ስለክልሉ investment opportunities of the region as well ኢንቨስትመንት እንቅስቃሴ የተዘጋጁ ሪፖርቶችን as periodic reports on investment activities ለኤጀንሲው ያስተላልፋል፡፡ therein. 3/ አግባብ ያለው የኢንቨስትመንት መሥሪያ ቤት 3/ The appropriate investment organ shall በዚህ አንቀጽ ንዑስ አንቀጽ (2) መሠረት compile, analyze and distribute, as ያገኛቸውን መረጃዎች ያጠናቅራል፣ ይተነትናል necessary, the information it acquired እንደ አስፈላጊነቱም ያሠራጫል፡፡ pursuant to sub-article (2) of this Article. 4/ ማናቸውም የፌዴራል መንግሥት ወይም የክልል 4/ Any federal or regional executive organ አስፈፃሚ አካል ኢንቨስትመንት ነክ መረጃዎችን shall have the duty to provide information አግባብ ባለው የኢንቨስትመንት መሥሪያ ቤት relating to investment whenever so required ሲጠየቅ የመስጠት ግዴታ አለበት፡፡ by the appropriate investment organ. "2 ስለአቤቱታ አቀራረብ 32. Lodging of Complaints 1/ T”—¨<U vKGwƒ Ÿ›=”yeƒS”~ Ò` 1/ Any investor shall have the right to lodge u}ÁÁ² p_ታ ካለው ›Óvw ላK¨< complaints related to his investment with ¾›=”yeƒS”ƒ ›"M ›u?~• ¾Tp[w the appropriate investment organ. Swƒ Õ[ªM::

gA 6ሺ5)(6 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6596 2/ አÓvw ÁK¨< ¾›=”yeƒS”ƒ SY]Á u?ƒ 2/ An investor who has a grievance against the ucÖ¨< ¨<d’@ p` ¾}W– vለGwƒ ¨<d’@¨< decision of the appropriate investment uÅ[c¨< u" k“ƒ ¨<eØ p_¨<” organ may, within 30 days from receipt of ”ÅአÓvu< K›=”yeƒS”ƒ x`É ¨ÃU the decision, appeal to the Investment Board KT>SKŸ}¨< ¾¡MM S”ÓYƒ አ"M or to the concerned regional organ, as may Tp[w ËLM:: be appropriate. ክፍል ስምንት PART EIGHT ስለ ኢንዱስትሪ ልማት ቀጠናዎች INDUSTRIAL DEVELOPMENT ZONES "3 የኢንዱስትሪ ልማት ቀጠናዎችን ስለማቋቋም 33. Establishment of Industrial Development Zones 1/ የኢንዱስትሪው ዘርፍ በአገሪቱ ኢኮኖሚ 1/ In order for the industrial sector to have a የመሪነቱን ሚና እንዲይዝ ለማገዝ የፌዴራል leading role in the economy of the country the federal government shall establish industrial መንግስት በክልሎች የኢንዱስትሪ ልማት development zones in regions. ቀጠናዎችን ያቋቁማል፡፡ 2/ Without prejudice to the provision of Article 6 2/ በዚህ አዋጅ አንቀጽ 6 የተደነገገው እንደተጠበቀ of this Proclamation industrial zone ሆኖ የኢንዱስትሪ ቀጠና ልማት የሚካሄደው development shall be undertaken by the በፌዴራል መንግስት ወይም አስፈላጊነቱ federal government or, where deemed ሲታመንበት በመንግስትና በግል ባለሀብት necessary, by joint investment of the በቅንጅት ይሆናል፡፡ government and private sector. "4 የኢንዱስትሪ ልማት ቀጠናዎች አስተዳደር 34. Administration of Industrial Development Zones 1/ የኢንዱስትሪ ልማት ቀጠናዎችን በበላይነት 1/ The organ responsible for administering and የሚመራውና የሚቆጣጠረው አካል በሚኒስትሮች supervising industrial development zones shall be determined by regulation to be issued by ምክር ቤት በሚወጣው ደንብ ይወሰናል፡፡ the Council of Ministers. 2/ በዚህ አንቀፅ በንዑስ አንቀፅ (1) መሠረት 2/ The organ to be designated by the Council of በሚኒስትሮች ምክር ቤት የሚሰየመው አካል በዚህ Ministers in accordance with sub-article (1) of አዋጅ እና በአዋጁ መሠረት በሚወጣው ደንብ this Article shall, in conformity with the ውስጥ የተቀመጡ ሥነ-ሥርዓቶችን፣ የፀደቁ procedures provided under this Proclamation and regulation issued hereunder, and the የአገሪቱን ዕቅዶች እና ስምምነቶች በመከተል approved plans and agreements of the country, ማናቸውም የኢንዱስትሪ ልማት ቀጠና እንዲጠብ submit recommendations to the Council of ወይም እንዲሰፋ ለማድረግ ለሚኒስትሮች ምክር Ministers for reduction or expansion of ቤት የውሳኔ ሃሳብ ያቀርባል፡፡ industrial development zone. 3/ በዚህ አንቀፅ ንዑስ አንቀፅ (2) የተመለከተው 3/ Where the recommendation specified under የውሳኔ ሃሳብ ሲፀድቅ በኢንዱስትሪ ልማት sub article (2) of this Article is approved a ቀጠናዎች ውስጥ በሊዝ የተያዘን ወይም leasehold land within or adjacent to industrial በአዋሳኝ ቦታ ላይ የሚገኝን መሬት፡- development zones may be possessed by negotiation or decision for the purpose of: G) ለልማት መሬቱን ከነባር የኢንዱስትሪ ልማት a) incorporating the land with existing ቀጠና ጋር ለማጠቃለል፤ industrial development zone;

ለ) ወደ ኢንዱስትሪ ልማት ቀጠናዎች ውስጥ b) getting passage to enter in to industrial መተላለፊያ ለማግኘት፤ ወይም development zones; or gA 6ሺ5)(7 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6597 ሐ) የተፈጥሮ ሀብቶችን፣ ቅርሶችን እና በሕግ c) maintaining natural resources, heritages የተለየ ጥበቃ እንዲደረግላቸው የተወሰኑ and places required by law to be preserved. ቦታዎችን ለመንከባከብ፤ ሲባል በድርድር ወይም በውሳኔ ሊያዝ ይችላል፡፡ "5 የኢንዱስትሪ ልማት ቀጠናዎችን የሚመለከቱ ደንቦች 35. Regulations Related to Industrial Development Zones 1/ በፌዴራሉ መንግስት በሚደረግ የኢንዱስትሪ 1/ An organ to engage in the federal government ልማት ቀጠና የማልማት ስራ ላይ የሚሰማራ development activities of industrial ተቋም በሚኒስትሮች ምክር ቤት ደንብ development zone shall be established by ይቋቋማል፡፡ regulation of the Council of Ministers. 2/ የኢንዱስትሪ ልማት ቀጠናዎች ስለሚሰየሙበት 2/ Matters concerning designation, allocation አሠራር፣ ስለሚመደቡበት መሥፈርቶች፣ standard, boundary delimitation of industrial development zones, the rights and duties of ስለድንበራቸው አወሳሰን፣ በቀጠናዎች ውስጥ investors engaged in, the services expected ስለሚሠማሩ ባለሀብቶች መብትና ግዴታዎች፣ from the government and supervision theron, ከመንግስት ማግኘት ስለሚገባቸው ልዩ completion of construction activities and አገልግሎቶች አፈፃፀምና የቁጥጥር አሠራር፣ supervision thereon,incentives other than የሚያከናውኗቸው ግንባታዎች ስለሚፈፀሙበትና those under this Proclamation and the ቁጥጥር ስለሚደረግባቸው ሁኔታዎች፣ በዚህ implementation of this Part of the አዋጅ ከሚያገኙት በተጨማሪነት ስለሚሰጣቸው Proclamation, shall be determined by the Council of Ministers regulation. ማበረታቻዎች እና በዚህ ክፍል ውስጥ ያሉ ድንጋጌዎችን ለማስፈፀም አስፈላጊ ስለሆኑ ማናቸውም ጉዳዮች በሚኒስትሮች ምክር ቤት በሚወጣ ደንብ ይወሰናሉ፡፡ 3/ በዚህ ክፍል በተመለከቱ ልዩ ድንጋጌዎች እና 3/ Unless otherwise it is to be governed by this special Part and regulations based on the ድንጋጌዎቹን መሠረት አድርገው በሚወጡ provisions of this special Part of this ደንቦች የሚገዛ ካልሆነ በስተቀር በኢንዱስትሪ Proclamation, the provision of this ልማት ቀጠናዎች ላይ ይህ አዋጅና አዋጁን Proclamation and regulations issued hereunder ለማስፈፀም የሚወጡ ደንቦች ተፈጻሚ shall be applicable to industirial development ይሆናሉ፡፡ zones.

ክፍል ዘጠኝ PART NINE ልዩ ልዩ ድንጋጌዎች MISCELLANEOUS PROVISIONS "6 ስለብድር እና ስለውጭ ምንዛሬ አጠቃቀም 36. Loans and Utilization of Foreign Currency 1/ Ÿ¨<ß wÉ` ÁÑ– vKሀwƒ ÃI”’< wÉ` 1/ An investor who acquires an external loan K›=ƒÄåÁ wN?^© v”¡ ›p`x uv”Ÿ< shall have such loan registerd with the SS]Á SW[ƒ TeS´Ñw Õ`u•M:: National Bank of Ethiopia in accordance with the directive of the Bank. 2/ T”—¨<U ¾¨<ß vKሀwƒ K›=”yeƒS”ƒ 2/ For the purpose of his investment activities, ”penc?¨< ¯LT ¾›=ƒÄåÁ wN?^© v”¡ any foreign investor shall be allowed to open uT>Á¨×¨< SS]Á SW[ƒ u}ðkÆKƒ and operate foreign currency accounts in ¾›Ñ` ¨<eØ v”¢‹ ¾¨<ß U”³] ¾v”¡ authorized local banks in accordance with H>Xw S¡ðƒ ËLM:: directive of the National Bank of Ethiopia. gA 6ሺ5)(8 ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6598 "7 የውጭ ዜጎችን ስለመቅጠር 37. Employment of Expatriates 1/ ማንኛውም ባለሀብት ለሥራው እንቅስቃሴ 1/ Any investor may employ duly qualified አስፈላጊ የሆኑና ተገቢው ሙያ ያላቸውን expatriate experts required for the የውጭ አገር ኤክስፐርቶች ሊቀጥር ይችላል:: operation of his business. 2/ በዚህ አንቀጽ ንዑስ አንቀጽ (1) መሠረት 2/ An investor who employs expatriates የውጭ ዜጎ‹ን የሚቀጥር ባለሀብት pursuant to sub-article (1) of this Article, ለኢትዮጵያውያን አስፈላጊውን ሥልጠና shall be responsible for replacing, within a እንዲሰጥ በማድረግ በተወሰነ ጊዜ ውስጥ limited period, such expatriate personnel የውጭ ዜጎቹ እንዲተኩ የማድረግ ኃላፊነት by Ethiopians by arranging the necessary አለበት:: training thereof. 3/ የዚህ አንቀጽ ንዑስ አንቀጽ (1) እና (2) 3/ Notwithstanding the provisions of sub- ድንጋጌዎች ቢኖሩም የውጭ ባለሀብት article (1) and (2) of this Article, a foreign ለሚያካሂደው ድርጅት የውጭ ዜግነት investor shall, without any restriction, have ያላቸውን ከፍተኛ የማኔጅመንት አባላት the right to employ expatriate employees ለመቅጠር ገደብ አይደረግበትም:: on top management positions for his enterprise. "8 ሌሎች ሕጎችን ስለማክበርና ስለአካባቢ ጥበቃ 38. Duty to Observe Other Laws and Protection of Environment T”—¨<U vKGwƒ ¾›Ñ]~” QÔ‹ uT¡u` Any investor shall have the obligation to ¾›=”yeƒS”ƒ }Óv\” ÁŸ“¨<“M::u u}KÃU observe the laws of the country in carrying out ¾›=”yeƒS”ƒ ýaË¡~” }Óv^© c=ÁÅ`Ó his investment activities. In particular, he shall K›"vu= Øun M¿ ƒŸ<[ƒ cØ„ S”kdke give due regard to environmental protection. Õ`u•M::

"9 ደንብ የማውጣት ሥልጣን 39. Power to Issue Regulation ¾T>’>eƒa‹ U¡` u?ƒ ይህን አዋጅ ለማስፈፀም The Council of Ministers may issue regulations ¾T>ÁeðMÑ< Å”x‹” ማውጣት ËLM:: necessary for the implementation of this Proclamation. # የተሻሩና ተፈፃሚነት የማይኖራቸው ሕጎች 40. Repealed and Inapplicable Laws 1/ የኢንቨስትመንት ›ዋጅ ቁጥር 2)'/09)(4 1/ The Investment Proclamation No. 280/2002 (እንደተሻሻለ) በዚህ አዋጅ ተሽሯል፡፡ (as amended) is hereby repealed. 2/ No law or customary practice shall, in so far 2/ ይህን አዋጅ የሚቃረን ማንኛውም ሕግ ወይም as it is inconsistent with this Proclamation, የ›Wራር ልምድ በዚህ አዋጅ በተሸፈኑ ጉዳዮች have effect with respect to matters provided ላይ ተፈፃሚነት አይኖረውም፡፡ for in this Proclamation. #1 አዋጁ የሚፀናበት ጊዜ 41. Effective Date ይህ አዋጅ በፌዴራል ነጋሪት ጋዜጣ ታትሞ This Proclamation shall enter into force on the date ከወጣበት ቀን ጀምሮ የìና ይሆናል:: of publication in the Federal Negarit Gazeta. አዲስ አበባ መስከረም 7 ቀን 2ሺ5 ዓ.ም Done at Addis Ababa, this 17th day of September, 2012. GR¥ wLdgþ×RgþS GIRMA WOLDEGIORGIS yxþT×eà ØÁ‰§êE ÄþäK‰sþÃêE PRESIDENT OF THE FEDERAL ¶pBlþK PÊzþÄNT DEMOCRATIC REPUBLIC OF ETHIOPIA gA ፌÁ‰L ነU¶T Uz¤È qÜ_R %3 መስከረም 7 qqN 2ሺ5 ›.M Federal Negarit Gazeta No. 63 17th September 2012 ……... page 6599