Ethiopia passed a new investment law on Thursday, clearing the way for foreign investors to have access to several sectors of the economy.

The new investment law is part of Prime Minister Abiy Ahmed’s quest to transform Ethiopia’s economy at a faster pace. The text of the law says it sets out to realize an economic framework that “fast-tracks the global competitiveness of the national economy, increases export performance, generates more and better employment opportunities."

The law, however, reserves banking, insurance, micro-credit and micro-savings sectors for domestic investors alone.

Source: Reuters