The electronic investment guide (iGuide) to Ethiopia is officially launched in United Nations Conference Centre in Addis Ababa (UNCC). Present at the ceremony were Mr Shumete Gizaw, State Minister, Ministry of Innovation & Technology, Mr Fitsum Arega, Commissioner of the Ethiopian Investment Commission (EIC) and Ms Vera Songwe, Executive Secretary of the United Nations Economic Commission for Africa (ECA) and other officials.
The iGuide is a web-based investment promotion tool covering a wide range of topics that are chosen to be relevant to investment consideration. The tool will also serve as the first point of contact for domestic and international companies and businesspeople interested in investing in Ethiopia, UNECA has said in an official statement.
Developed by the EIC, in collaboration with UNECA (United Nations Economic Commission for Africa) and UNCTAD (United Nations Conference on Trade and Development), the web-based platform is meant to inform potential investors on what investment opportunities abide in Ethiopia and also offer relevant information such as costs, laws and regulations related to business, investment, labor, taxation, access to land etc. The platform will also give access to investors contact details of relevant public institutions, official texts of laws and directives, and feedback collected from investors who are already engaged in working in Ethiopia.
In the process of developing the iGuide for Ethiopia, UNECA and UNCTAD have given capacity-building and technical assistance to EIC staff as they are the ones who own, manage and update the platform as it goes functional.
In 2018, UNECA and UNCTAD have jointly launched iGuides in six other African countries: the Republic of the Congo, Malawi, Zambia, Nigeria, Madagascar and, most recently, Mauritania.
UNECA has stated that the iGuide project falls within its broader efforts to support productive investment for sustainable development in Africa.