Since Ethiopia has launched the new market-oriented Economic Policy in 1992, a number of policy measures and reforms have been undertaken to change the structure of the economy. It has embarked upon the privatization of state-owned enterprises as an integral part of the broader macro- economic reform.
The privatization program aims at changing the highly centralized economic system into a market-oriented one, by recognizing the role of the private sector in generating economic growth. Domestic and Foreign investors are encouraged to participate in the privatization process which is well under way in Ethiopia at present. To accomplish the privatization process, the Ethiopian privatization Agency (EPA) was established in February 1994 by Proclamation No. 87/1994.
To date, 195 units and whole enterprises have been privatized and transferred to domestic and foreign investors. Over the coming three years, EPA planned to privatize 117 public enterprises.
The necessary preparations are underway for the privatization of 81 enterprises with the help of internationally known foreign consultants and 36 others on which preparatory work was carried out by the in-house staff.
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