Ethiopia to Allow Foreigners to Own Property, Reports Say

The prime minister’s statement came during his discussions with loyal high rate taxpayers and businesses to address issues of importance to them as stakeholders.

Ethiopia is poised to enact legislation allowing foreigners to own real estate, a pivotal step in the nation’s overarching strategy to liberalize its economy and entice investors, Ethiopian Prime Minister Abiy Ahmed announced, as quoted by media.

Ahmed revealed that his administration is in the final stages of drafting new legislation to enable foreign ownership of real estate.

“We will introduce a law which will allow foreigners to own property,” he said, as quoted by media.

The prime minister also underscored the government’s broader intention to revise existing regulations to facilitate access to Ethiopia’s retail sector, which currently maintains exclusive rights for Ethiopian nationals.

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