Member of MIGA
Ethiopia is a member of the
World Bank - affiliated Multilateral Investment Guarantee Agency(MIGA) which gives
guarantees against non-commercial risks. Ethiopia is at any time ready to conclude
bilateral investment promotion and protection treaties with any country and is in fact
currently concluding such agreements with a number of developed countries. Ethiopia has
also signed the World Bank treaty "the convention on settlement of investment
disputes between states and nationals of other states (ICSID)".
Repatriation
of Capital and Profits
Capital repatriation and
remittance of dividends and interest is guaranteed to foreign investors under the
Investment Proclamation. Any foreign investor has the right, in respect of an approved
investment, to make the following remittances out of Ethiopia in convertible foreign
currency at the prevailing rate of exchange on the date of remittance:
profit and dividends
accruing from an investment;
principal and interest
payment on external loans;
payments related to
technology transfer or management agreements;
proceeds from sale or
liquidation of an enterprise;
proceeds from the sale or
transfer of shares or assets;
compensation paid to a
foreign investor.
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