Phone : +251 113 712 104 Fax : +251 113 710 873
Addis Ababa Inc. All Rights Reserved}
Established in 1947 by proclamation, the Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) has been promoting and protecting the causes, interests, rights and benefits of the business community for about 62 years now. It is the oldest and largest Chamber in Ethiopia with over 6,000 registered members at present. AACCSA is an autonomous, non-governmental, non-political & non-profit organization. The Chamber, which previously was known as the Addis Ababa Chamber of Commerce, was reorganized as the Addis Ababa Chamber of Commerce and Sectoral Associations in 2003. AACCSA represents 60% to 70% of businesses in Addis Ababa. In addition to being a pioneer Chamber in Ethiopia, it has a prominent place in the international network of Chambers. Apart from safeguarding the interests of the business community, AACCSA has also been playing a considerable role in prompting trade and investment in the country. It has been actively engaged in the national efforts geared towards creating flexible and hospitable economic environment. AACCSA has been in the forefront in helping businesses grow and prosper through the provision of business related information and diversified services. Please join the Chamber as a member and you will be contented with its efficient and reliable services.
GENERAL
INVESTMENT POLICY DESCRIPTIONS AND ADMINISTRATION
A. FOREIGN INVESTMENT
Ethiopia has untapped resources along with a favorable
investment code. As a result, Foreign Direct Investment (FDI) is on the increase in areas such as cut flower, garment, meat processing,
etc. Foreign investors from different parts of the world, including Europe, the Middle East, North America, Asia and Africa are investing
their capital in the country.
The 1995 Constitution of the Federal Democratic Republic of Ethiopia (FDRE) is the supreme law
of the country. It recognizes the right of individuals to acquire and own property. The Investment Proclamation No 280/2002 (as amended
by proclamation no.375/2003), the 2003 Regulations on Investment Incentives, and the Mining Proclamation no. 53/93 and the Mining
Operations Regulations of 182/94 constitute the main legal frameworks for both foreign and domestic investments in Ethiopia. The Commercial
Code of 1960 also provides the legal basis for undertaking business activities in the country.
Proclamation 280/2002 amended by Proclamation no 375/2003, was enacted with a view to:
Encouraging and promoting the role of the private sector in the economic development of the country;
- Widening the scope of participation of foreign investors;
- Creating a transparent and efficient system
of investment administration.
The Investment Proclamation No.280/2002 (as amended) provides that a foreign investor can undertake investment
either:
- As a sole proprietor, with full equity ownership (100% equity ownership); or
- Jointly or in partnership with domestic
investor(s), or the Government.
The Law also stipulates the following capital requirements:
- A minimum capital of $100,000 for a single
investment project in cash and/ or in kind for wholly foreign owned investments;
- A minimum capital of $50,000 in cash and/
or in kind per project in areas of engineering, architecture accounting and audit services project studies or business management
consultancy services; or publishing.
A foreign investor intending to invest in partnership with domestic investors is required to invest
a minimum capital of:
- $60,000 in cash and/or in kind per project; or
- $25,000 in cash and/ or in kind if the investment
is made in the aforementioned areas.
For All your purposive correspondence Please use theses addresses;
Phone
Office :
+251 115 504647/48
Mobile :
+251 911 212179/234137
Fax :
+251 115 504649/511479
P.O.Box :
2458 Addis Ababa, Ethiopia
Email : tradefair@addischamber.com