The Ethiopian Ministry of Trade and Regional Integration announced on Thursday that the East African country has opened its retail sector to foreign investors in a major economic liberalization move.
In a press statement, the ministry said foreign investors who meet the conditions set by the Ethiopian government can invest in all retail trade activities that have previously been set aside for local business people.
The statement further said foreign investors can now engage in a wide array of wholesale trade activities apart from fertiliser products.
The ministry also disclosed that foreign business people who meet preconditions are now allowed to export raw coffee, oil seeds, cereals, hides and skins, forestry products, and livestock.
Ethiopia, Africa’s second most populous nation, is currently embarking on a major economic reform that mainly envisages boosting the private sector’s contribution to its overall economy.
