ADDIS ABABA – Ethiopian Investment Commission (EIC) said that it has introduced legal reforms that aims to systematically receive and facilitate the resolution of critical grievance of investors, and thereby create a favorable investment environment.
The draft investment law that is currently tabled for approval at the House of Peoples’ Representatives clearly outlines the process for managing complaints brought by an established investor against the decisions of federal government bodies, according to Hilina Getachew, Chief of Staff to the Commissioner.
She said: “Upon reception of a formal complaint raised by an established investor against the final decision of a federal government body, based on the data and legal analysis undertaken, the Investor Grievance Management Unit of the Commission will engage in a technical discussion with the concerned public agency to reach a timely, amicable solution before the grievance escalates into withdrawal/ cancellation of investment”.
She further indicated that a formal higher-level escalation mechanism has also been put in place to deal with grievances that are not resolved through technical dialogue with the concerned government agency.
The Investor Grievance Management Unit at the Commission will enable investment retention and expansion, and prevents investor-State disputes from escalating by bringing critical investor grievances to the attention of higher-level government offices, she noted.
As to her, the Unit will also serve as a diagnostic tool to identify patterns of problems affecting investors and investments, and on that basis, determine investment issues requiring policy reforms.
To this effect, the setting up of the Unit will allow the Commission to systematically receive, track and facilitate, and resolve grievances that arise between already established investors and public agencies, before they escalate into withdrawal, or cancellation, she stressed.
The Ethiopian Investment Commission also has an ‘Investment Aftercare’ department that provides active support to investors throughout the investment life cycle and facilitates the resolution of any issues they may face while operating in Ethiopia, it was learnt.
The Ethiopian Herald January 8/2020
BY BETELHEM BEDLU
