President Says Gov’t Will Invigorate Economic Reform

Addis Ababa October 08/2018 The Ethiopian government will implement the necessary economic policy reforms to ensure sustainable economic growth, President Mulatu Teshome said.    The president made a keynote address to the joint session of the House of People’s Representatives and the House of Federation marking a new parliamentary year. The two Houses, which were in recess for the past three months, have begun their fourth year of parliamentary sessions. Opening the session, President Mulatu Teshome said the government will implement economic policy reforms that enable the country to continue with its sustainable economic growth. He added that the government will strive to create inclusive economic development that enhances the engagement of the private sector and the youth. According to him, exerting greater emphasis on creating jobs for the youth that covers over 65 percent of the overall population will be the major agenda of the economic reform. Various measures will be taken to also create conducive environment for the private sector, Mulatu said, pointing out that “the government shall make every effort to work in partnership with the private sector and identify and curb problems that bottlenecked the private sector.” In this regard, the president explained that the improved Commercial Code of Ethiopia shall be submitted to the House and a new investment law would put in place in the year when one-stop-shop service using electronics means will also be available. He stated that the reform will continue in trade registration and license service by supporting it with technology to make it simple and mobilize resources. Implementing economic rehabilitation policy is the other main package that will be implemented to sustain the pace of the economic development of the country. Mulatu pointed out that building stable free market and stabilizing the marco- economy in the country is among the major activities that will be taken in the budget year under the economic rehabilitation program. The president stressed that “the government will work extensively to ensure sustainability of the economic growth by minimizing its role in the market and scaling up the involvement of the private sector by fully or partially privatizing state-owned mega enterprises.”