[ad_1]
Ethiopia is continuing its efforts to improve the country's ease of doing business as part of the wider economic reforms of the Abiy Ahmed-led government.
According to the Prime Minister's Office, this initiative will aim to create an environment conducive to business creation and financing.
The result of a good business and financial atmosphere, the prime minister said, will be a "way to solve the structural problem of unemployment". Ethiopia, the second most populous country in Africa, has a high unemployment rate.
The prime minister met with the Ethiopian Investment Commission, EICon Tuesday to review the progress made by the government in the Doing Business initiative.
Abiy also pointed out that, in order to solve the problems of access to financing encountered by many startups, a revision of the loan practices allowing the creation of movable badets as collateral is being put in place.
Ethiopia since Abiy's takeover in April 2018 has been the subject of many reforms. In the area of economic reform, Abiy reaffirmed his determination to open an economic space hitherto controlled by the government.
Security observers have repeatedly stated that Ethiopia needs as much economic reform as political and human rights reforms.
Security is the other area that Abiy has been tasked to tackle in order to consolidate progress on reform in less than a year.
Since last year, the government announced that it was planning to open state-owned enterprises to private investors. The Central Bank has also revised certain restrictive measures relating to loans and the general financial system.
The ten key indicators to improve the badessment of the ease of working in Ethiopia focus on:
1. Business Creation
2. Building permit
3. Registration of the property
4. Get electricity
5. Get credit
6. Pay taxes
7. Cross-border trade
8. Resolution of Insolvency
9. Protecting the rights of minorities
10. Execution of contracts
"Prime Minister Abiy Ahmed pointed out that reducing bureaucratic bottlenecks in these processes would enable targeted investment sectors such as electricity, mining, housing, manufacturing and small businesses. and medium-sized enterprises (SMEs) to be effective, "added his office in a tweet.
Source link
