The House of Peoples’ Representatives has passed a new proclamation permitting foreign nationals to own immovable property in Ethiopia. The decision aims to encourage investment in the country’s real estate sector while safeguarding national interests.
The House of Peoples’ Representatives of Ethiopia (HPR) approved the National Payment System Proclamation and Public Private Partnership (PPP) Proclamation yesterday. The National Payment System Proclamation was proclaimed as Proclamation No. 1282/2022 repealing the existing proclamation 718/2011. The Parliament also approved the draft PPP Proclamation as Proclamation 1283/2022 amending Proclamation 1076/2018.
The House of Peoples’ Representatives has ratified the draft Digital Identity Proclamation with a view to establishing a uniform and reliable identity registration system which will be applied across the country. The proclamation was given a go ahead by the Council of Ministers and referred to the Parliament in August last year.
A USD 121.7 million loan agreement which was concluded between the Ministry of Finance and Economic Cooperation and the International Development Association was ratified by the parliament. The Ethiopian House of People’s Representatives ratified the loan agreement which was signed in June, 2018 during its first assembly for the financing of competitiveness and job creation.
The House of Peoples’ Representatives has ratified Proclamation No. 1379/2017, approving the country’s accession to the African Finance Corporation (AFC).
