Fitsum Arega – Director General of the Ethiopian Investment Commission – Ethiopia Government

We are pleased and honored to welcome Mr Fitsum Arega, as a guest speaker at the 5th Africa Business Forum in Addis Ababa on 1st Mar 2017.  Fitsum Arega is the Commissioner of the Ethiopian Investment Commission. Prior to this, he had served as Head of the Addis Ababa Investment Agency and Head of Addis Ababa Trade and Industry Bureau. Earlier, he spent 13 years in the Office of the Prime Minister in different capacities including Team Leader in Economic Affairs Sector and Special Assistant to the Head of Economic Affairs. Fitsum has an MA in Development Economics and Policy Management from University of Manchester, an MBA from Open University Business School, and a PGD in Local Government Systems and Management from University of Birmingham.

The Ethiopian Investment Commission (EIC) is an autonomous government institution accountable to the country’s Investment Board, which is chaired by the Prime Minister. A Commissioner, who is also member of the Board, heads the EIC.

The EIC has restructured itself recently with a view to becoming more effective at attracting FDI and improving the services provided to investors.

The main services provided by EIC include:

  • Promoting the country’s investment opportunities and conditions to foreign and domestic investors;
  • Issuing investment permits, business licenses and construction permits;
  • Notarizing memorandum and articles of association and amendments;
  • Issuing commercial registration certificates as well as renewals, amendments, replacements or cancellations;
  • Effecting registration of trade or firm name and amendment, as well as replacements or cancellations;
  • Issuing work permits, including renewals, replacements, suspensions or cancellations;
  • Grading first grade construction contractors;
  • Registering technology transfer agreements and export-oriented non-equity-based foreign enterprise collaborations with domestic investors;
  • Negotiating and, upon government approval, signing bilateral investment promotion and protection treaties with other countries; and
  • Advising the government on policy measures needed to create an attractive investment climate for investors.

In addition, the EIC provides the following free, confidential and customized services to investors:

  • Provision, through our website, various publications, or through direct response to investor’s inquiries, of information on sector-specific business opportunities, business incorporation procedures and related regulations, employment regulations.
  • Hand-holding and supporting the investor during the acquisition of land and utilities (water, electrical power and telecom services); the processing of loans and residence permit applications; the approval of environmental impact assessments studies for investment projects; and the issuance of a tax identification number (TIN).