OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA 5th Year No. 49 ADDIS ABABA-- 22 April , 1999 CONTENTS Proclamation No. 168/1999 Investment ( Amendment ) Proclamation Page 1021 PROCLAMATION NO . 168/1999 A PROCLAMATION TO AMEND THE INVESTMENT PROCLAMATION WHEREAS , it has become necessary to amend the Investment Proclamation ; NOW , THEREFORE , in accordance with Article 55 ( 1 ) Ethiopia , it is hereby proclaimed as follows : 1. Short title This Proclamation may be cited as the “ Investment ( Amendment ) Proclamation No. 168/1999 . " 2. Amendment The Investment Proclamation No. 37/1996 ( as amended ) is hereby further amended as follows : 1 ) Article 7 of the Proclamation is hereby deleted and replaced by the following new Article “ 7 ” : * 7 ' ' Investments to be Undertaken in Partnership with the Government The Supervising Authority of Public Enterprises shall receive and evaluate projects proposals submitted by any investor intending to invest in partnership with the Government ; submit same to the Government for decision and , upon approval , desig nate a public enternrise to invest as partner in the joint investment . Unit Price The African Law Archive replaced by the following new Article ' 8 ' . 1 / All areas of Investment , other than those exclusively reserved under this proclamation for the Government , Ethiopian nationals or domestic investors or for joint investments with the Government , shall be open for foreign investors . 21 Without prejudice to Sub Article ( 1 ) of this Article , the equity share of the domestic partners in a joint investment shall not be less than two - percent ( 2 % ) . 3. Effective Date This Proclamation shall enter into force as of the 22nd day of April , 1999 . Done at Addis Ababa , this 22nd day of April , 1999 . PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA The African Law Archive