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FED RA
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N GARIT GAZETT
OF THE FEDERAL DEMOCRAnC REPUBLIC OF ETHIOPIA
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CONTENTS fI}~Ii'"1.
Regulation No. 31312014 ~,}11 cf:TC I:rn~/~7i.1 ~.~
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20111 Year No. 63
ADDIS ABABA 14" August, 2014
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Ethiopian Investment Board and the Ethiopian
Investment Commission Establishment Council of
Ministers Regulation ........................ Page 7487
COlJN CIL OF MINISTERS REGlJAL TION No.313/2014
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COUNC IL OF MINISTERS REGUALTJON TO PROVIDE FOR THE ESTABLJSHME T OF TH E ETHIOPIAN INVESTMENT BOARD AND THE ETH IOPIAN INVESTMENT COMMISSION This Regulation is issued by the Council of
Minist rs pursuant to Article 5 and 35 of the
Definition of Powers and Duties of the Executive
Organs of the Federal Democratic Republic of
Ethiopia Proclamation No. 691/2010 (as amended by
Proclamation No. 803 /2013).
PART ONE
GENERAL
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1. Short Title
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2. Definitions
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This Regulation may be cited as the "Ethiopian
Investment Board and the Ethiopian Investment
Commission Establishment Council of Ministers
Regulation No. 313/2014".
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In this Regulation unless the context otherwise
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reqUlres:
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"Proclamation" means the Investment
~t~j!fI7t~
www.chilot.me Proclamation No. 769/2012 (as amended
by Proclamation No. 849/2014);
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21 "Investment Regulation" means the Investment
Incentives and Investment Areas Reserved for
'.,.hl\k , ~Ir OOMT 'trt~-l'C'T
~hC
Domestic
R.T
4!'1'C
Regulation No. 27012012 (as amended by
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(""'Hl
"(1)- i
Council
of Ministers
Regulation No. 312/2014);
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Investors
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3/ any expression in the masculine gender
includes the feminine .
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PART TWO
THE ETHIOPIAN INVESTMENT BOARD
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3. Establishment
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The Ethiopian Investment Board (hereinafter
the "Board ') is hereby established.
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4. Members
II tIC"'- fD1J.h1"t\-o). nflt\..}·
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or tbe Board
11 The Board shall have the following
members:
II) mo}-t\.e Dt ~ ... -l'O?.......................... f""l""- i
") Omtl\.e
DIJ. "t.il'}'O?,
fDIJ.flrr
a) toe Prime Minister ....... . ... Chairperson; foo,,}"1F-l..
b) a government official to be designated by
the Prime Minister ..................... ..
:Yt-c. .. ............................ rn·l·A ""'ttfl! tit) Om~t\.e D1J. "t.1l'~? fDIJ.flfoo- foo"}"'/P'}'
............................. Vice Chairperson;
~k9'T ....................................nfl"·}· l c) government officials to be designated by
the Prime Minister ................. Members;
21 The Commission shall serve as the
Secretariat of the Board.
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5. Powers and Duties of the Board
The Board shall:
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1/ exercise its powers and duties specified under
h 1)l o-r h'7f1f1 ql'\T(J)o
Article 29 and other relevant provisions of the
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Proclamation as weU as under the relevant
r1""m'T"}
provisions of the Investment Regulation;
itt. f(l)'''A!
l,oy1,(,
2/ establish, as may be necessary. investment
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advisory committees; define mandates of the
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"'ofI"(t1D~:ftD'1t;
h'1"·1:1
committees and designate their chairpersons
and members .
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Federal Negant Gazette No.63 14'" August, 2014 ... Page 7489
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6. Meetings of the Board
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Ii The Board shall meet once every month;
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provided however, that it may meet at any
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time where necessary.
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2/ There shall be quorum where more than half
h·t-'ll- "'A"'J- 'rllh. ,(',If'l'A::
of the members of the Board are present at
any meeting.
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3/ Decisions of the Board shall be passed by
majority
fl-o"O.£D- flTll.1. "I/,. £D- £D-" 'I. fA 'i. A : :
vote;
in
case of a
tie,
the
Chairperson shall have a casting vote.
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4/ Without prejudice to the provisions of this
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F"FCh~l'
1.')-0
Article, the Board may adopt its own rules
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ftfrotJ) ,('.l·I\A::
of procedure for conducting meetings.
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PART THREE
h. 1iihTou'}T ,...", "Ii')
THE ETHIOPIAN INVESTMENT
COMMISSION
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7. Esta blishment
]I The Ethiopian Investment Commission
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(hereinafter the "Commission") is hereby
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established as an autonomous federal
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government office having its own legal
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personality .
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the Prime Minister.
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8. Head Office
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The Commission shall have its head office in
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Addis Ababa and may have branch or liaison
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office elsewhere, as may be necessary.
9. Objective
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The Commission shall be accountable to
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The Commission shall have the objective to
implement
transparent
and
investment administration system and thereby
encourage and expand investment.
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efficient
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Federal Negaril Gazette No . 63 14th August, 2014 .. . Page 7490
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10.
Powers and Duties of the Commission
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The Commission shaH:
?;:s
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"h€f "d/ll,n ll":':m-
1/ exercise its powers and duties specified
f"tp~
under
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~',n "d/ll'lI ll"=.:m- .~·):J'L?J1'
f'"' 'm-'' '
Article
28
and
other relevant
provisions of the Proclamation as well as
under the
p'tvrr1'1 ,,,o/llC':'"' p,t,. ",f', fm""A:
relevant
provisions of the
Investment Regulation;
~I
(Dolt). 9):-Y'
UlJuotf9)-:'"'e;
21 execute directives and decisions of the
(JOWJ.rm " h;J' :fmo fl.I\" :,".
Investment Board, and follow up their
(lC~')
fh:Hifl,'"uo'},.,.
,f'. ~.",. OIJ A -:
implementations by other relevant organs;
ilf.".}-yu ul)."o/lJt,.:I:m-') ,f'.h;J··'·"A:
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Y,IJ'e;A..
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31 own property, enter into contract, sue and
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be sued in its own name;
tlflon. Y,hltA: ,f'.h...ltA:
'I'II'''I~ ·""/ll/.-,·}-'}
41 undertake other related activities that are
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#1 f}"f'7m·'} haNI fl OIJ 1: t.fl
conducive
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to
the
attainment
of
its
objective.
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11.
Organization of the Commission
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The Commission shall have:
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h'}.~
fll'l.;-'·on o
"h'}f."fl~."·I."·I: 9"h·l'A
\1 a Commissioner and, as may be necessary,
JltIIl.7i~r.e;
Deputy Commissioners to be appointed
by the Government; and
J1f"l:Ii.,C'-:,",: "he;
21
12. Powers and Duties of the Commissioner
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II The
Commissioner
shall
be
the
chief
executive officer'of the Commission and shall,
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fJI'"I:Ii.,· '}
.rll·'·}L~/,.A:
the necessary staff.
subjt;!ct to the general directions of the Board,
~ ..' t,. 9' ":t'.
direct and administer the activities of the
:
Commission.
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21 Without limiting the generality of sub-article
IJ'li
r·,'unflh·,:,""'} ,
·'·'"IIlt,.·}-
lip-I.,
( 1) of this Article, the Commissioner shall:
a)
exercise the powers and duties of the
Commission stated under Article
this Regulation;
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accordance with the federal civil service
1ll\OD-.f?J:f'}
laws and, in the case of employees engaged
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flO?,...t R,..,
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c\7(A
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b)employ and administer employees engaged
in support services of the Commission in
,'h"~ ODlPl·l
fOW£LPO?","
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lP&.''''lf~
UD UD
/'.f
,'h-)":f'}
in the core functions of the Commission~ in
·,.h·rl\o
accordance with directives approved by the
I.·r
Government following the basic principles
noW
of the federal civil service laws;
.fll",.Pr J.1:t--A -:
n:e:-r
c) prepare and submit to the Office of the
hH;J:f-f t'\(fl-l-,..e DYI:,.iI-}C ~ thL-}' fk}'
Prime Minister the work program and
".,.CllA j f\R.e:-l-r -I'"?lllr'f ff.C;Jl\ i
budget of the Commission, and implement
th) ftlaIJ.71.,.,
f F Ir
TC'"?lrr'l
same upon approval;
00) I\tlDt7i.,.
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0:e:+C;
f Fir
d) effect payments in accordance with the
TC"llrr ootl/..}, htj"!,~:r·, f.L~DYlA j
approved budget and work program of the
Commission;
IP) hY"' hi';;: CD1lj":f ;JC O"'l. f. I. 1- "? -rf.,.,. T
e) represent the Commission in its dealings
with third parties;
tlaIJ.7i.,., .f.CDhl\A!
6TC.y· "f
nL~1.9"O'1
f Fir
I.) fl1a1J.7i't-1
n";J ~.y,
t'\(fl-l- I\.f.
f) prepare and submit to the Office of the
f'l"'l-o
Prime
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oom1
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I\t-"'l. 7i"r Fir ""l\ 1'~ 'I Otllf.fhL l\"I
Fl\"l1'1
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''''?ll~'}
perfonnance and
financial reports of the Commission;
~fhL'}' fl.-}' '."CllA::
rI tl"t 7i"~
Minister the
(lh~.l\
u-'Ir-I'?'f'if
3/ The Commissioner may delegate part of his
t'\JlO1J."/i.,.
OlD-tJA'1 {ttl1'
powers and duties to other officers and staff of
I
the Commission to the extent necessary for the
.el-I\l\::
efficient performance of the activities of the
Commission.
If.
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13. Budget
fte"'l.7i'" o:e:·}, floo1"1F'}' f.oof.llt\::
The budget of the CommissIOn shall be allocated
by the Government.
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il
te""l.11'"
f-I'a:t~'1
14. Books of Accounts
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ftf.,.
f'l:"-o
ootJ'?ll'}' .f..f.11A::
II The Commission shall keep complete and
accurate books of accounts.
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mi"t.r
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FcdcraI Neprit Gazette No. 63 14· August. 2014 ... .
Pate
7492
21 The books of accounts and financial
documents of the Commission shall be
~~TC
audited annually by the Auditor General or
Otnt"~ou~ ~~ TC O'~OD1: ~oul.oulrft-::
. by an auditor assigned by the Auditor
General.
I~.
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PART FOUR
A ~ A ~ 1:1:n.p'T
MISCELLANEOUS PROVISIONS
15. Repealed Regulation
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1..~'c\
"'I**DtJ' fDt'kh:"C":f rhc ft:"
rl~i!lfl7l~
",F.. 1"
ft·.,..
F..,.,..
"'*~'I"
~-rC
f"fJ~CD-
f1\.:"fol:J' h.'}O''':''OD':'' 1..1:,.... ou.,...,.:f"
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Agency
Re
establishment Council of Ministers Regulation
The rights and obligations of the Ethiopian
Investment Agency re-established under the
Council of Ministers Regulation No. 269/2012
are hereby transferred to the Commission.
I\flDt7i.,. "'''A~''AI:
17. Effective Date
f"tKIiO:" 1.11.
F..'1I
Investment
16. Transfer of Rights and Obligations
11. fODil-f'T'i j&:!-P'J- ou.,.""§;
rhc
Ethiopian
No. 269/201 2 is hereby repealed.
~1~i!/f17t~ fJflU 1l"~ +7it!:A::
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The
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:J"""'I"
This Regulation shall enter into force on the
date of publication in the Federal Negarit
Gazette.
Done at Addis Ababa, this 14th day of August, 2014
~~A"CJ'''' ~"'A~ HAILEMARIAM DESSALEGN
fh.+r-kJ' 4~1r"'I! .tS,,'fDhlrc\J''I! PRIME MINISTER OF THE FEDERAL
DEMOCRATIC
REPUBLIC OF ETHIOPIA
6TofJA.h m~".e '"l. til:"C www.chilot.me