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The Ethiopian Government is preparing a recovery package that will help companies vandalized by the mobs that took to the streets in many towns in the Oromia region after the murder of the famous Oromo singer Hachalu Hundesa a few months ago.
“Like the previous trend, the Investment Commission in collaboration with different relevant government offices is conducting a comprehensive study on the damages that have occurred to companies and how we can help companies recover,” said Lilise Neme, Commissioner of the Ethiopian Investment Commission.
“Regarding the type of support we provide, a decision was recently made and the Ministry of Finance will officiate the details of the support to companies,” he said, indicating that the support includes the importation of vandalized tax-free machinery, bank loans . business and review of the repayment terms of existing loans, among others.
“The Ministry of Finance will soon release a directive with all the details of government support for companies,” he said.
Commenting on how to prevent similar vandalism of investments by protesters, he noted that, in collaboration with the Ministry of Peace, the government is also working to establish an investment police force.
Furthermore, the Ethiopian Investment Commission will also be actively involved in raising awareness of the benefits of investments for the local community where the investment projects are located. He also stated that his Commission will also ensure that the local community has priority in work investment projects and benefits directly.
