Addis Ababa–The Ethiopian Investment Board has lifted the restrictions imposed on logistic industry exclusively reserved for Ethiopians such as packaging, forwarding and shipping agency services.
The decision by the Board also opened the provision of bonded warehouse, consolidation and deconsolidation services and allowed joint venture participation of international logistics service providers holding up to 49% or less stakes.
The decision is significant as it will improve the provision of high-end logistics services while local firms acquire world class knowledge, expertise, management, and systems by working jointly with globally reputed logistics service providers, said the Ethiopian Investment Commission in a statement sent to FBC today.
Improving Ethiopia’s logistics sector performance has been one of the key areas identified under the Second Growth and Transformation Plan (GTP II), according to the Commission.
The logistics sector matters in several critical ways-as a supporting industry to the manufacturing sector, to improve investment attraction/retention and for increasing the country’s international trade performance by enhancing export competitiveness, it noted.
The Council of Ministers approved a National Logistics Strategy last week, the Commission said.