According to an Ethiopia Press Agency report, the Ethiopian Government is launching a business and trade reform to attract foreign investment. The new policy is based on the idea that the Ethiopian trade system has failed to modernized and operate within the legal framework. The reforms that the trade ministry is undertaking will enforce existing policies and eliminate various loopholes. They include simpler and more rapid licensing procedures, more transparent competition and wider use of identification systems. To reduce the informal economy, all businesses are now required to obtain licensing although in the past businesses with a capital of less than 5000 Ethiopian birr (225 euros) were not required to register.
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