One part of the economic reform programs in Ethiopia is improving the country's ranking in the World Bank's Ease of Doing Business. As part of the Ease of Doing Business Project, the Ethiopian Investment Commission (EIC) has been responsible for revising the investment proclamation, which has been in effect since 2012. After several consultations with the private sector representatives and the development community, the final draft was presented to the House of Peoples' Representatives (HPR) in January 2020 and was approved by the House. After the approval, the law-making process necessitated for it to get publicized in the Federal Negarit Gazette to enter into effect. Accordingly, the new investment proclamation, cited as "Investment Proclamation No. 1180/2020" was publicized on April 2, 2020, officially repealing the long-lasted Investment Proclamation No. 769/2012 as amended from time to time.