Economy
Currently, Ethiopia is pursuing a homegrown economic reform agenda, and blueprint to expedite the economic progress of the country. This agenda is designed taking our successes into account through an in-depth review of key bottlenecks and designing adequate remedy outlines of macro-economic, structural, and sectoral reforms that will pave the path for job creation and inclusive growth. (https://pmo.gov.et/initiatives/)
Hand in hand with the homegrown economic reform agenda, Ethiopia has launched the encouraging business initiative in order to improve the investment climate. This improvement is the main part of Ethiopia’s New Horizon of Hope Action Plan for Job creation. Beyond having a demographic dividend, demand, and committed government, in the past two decades Ethiopia has made a considerable investment in physical infrastructure.
The horizon of possibilities for businesses could be expanded by a smart approach through regulation that keeps the equilibrium of efficiency and promotion of legitimate policy objectives. Prioritized policy, regulatory and administrative reforms that lowered unjustified costs, increased investment, business formation, and greater productivity will be addressed by the initiative.
Recently, Ethiopia has initiated significant economic reforms, including the opening up of telecom services to private foreign corporations like Safaricom. Additionally, the country is in the process of liberalizing its financial markets, which includes enabling foreign commercial banks to establish operations within Ethiopia. These measures are part of broader efforts to attract foreign investment and stimulate economic growth.
