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Public Enterprises Privatization Proclamation, No. 1206 of 2020

Country/Territory
Ethiopia
Document type
Legislation
Date
2020
Source
FAO, FAOLEX
Subject
Agricultural & rural development
Keyword
Authorization/permit Business/industry/corporations Governance Public private partnership (PPP)
Geographical area
Africa, AFRICA FAO, Eastern Africa, Landlocked Developing Countries, Least Developed Countries, Sahel
Abstract

According to this Proclamation, privatization is a transaction that results in either the sale of assets or share capital of a public enterprise in full or in part to private ownership and control. The objectives of privatization include: To improve the efficiency of Public Enterprises, enhance their competitiveness, attract technical expertise and skill sets, and improve access to capital; To generate revenue and enhance the provision of development finance in order to promote financing activities undertaken by the Government; To promote the Country's economic development by enhancing the policy environment for private investment and encouraging the expansion of the private sector. The Proclamation considers extensively pre-privatization activities, public enterprise restructuring and other activities prior to privatization. Essentially, the Proclamation provides for the procedure of conversion of a public enterprise to a share company, valuation of public enterprises and issues relating to post-privatization.

Full text
English
Website
www.lawethiopia.com