Ethiopian authorities allow foreigners to participate in wholesale and retail trade
The new directive should help stabilise prices
Ethiopia's Board of Investment recently adopted a directive that will allow foreign investors to participate in wholesale and retail trade. Previously, this area was only open to nationals of the country. This is reported by ENA.
Analysts say the decision will provide more opportunities for legally viable competitive trade.
A senior economist, Constantinos Berhe said foreign investors will bring their expertise to the sector. In addition, the directive will help increase the quantity and quality of goods to be supplied to international markets. The expert believes that the innovation will also help prevent illegal trade in animals.
The implementation of the directive will lead to fewer opportunities for illegal trade operations, the senior economist said. The participation of foreign investors in wholesale and retail trade will help stabilise market prices, he said.
Berhe advised the government to carefully study the background of the investors, their current mode of operation and the potential benefits they can bring to the national economy before granting them a licence.
Photo: iStock
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