One part of the economic reform programs taking place 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 taken the responsibility of revising the investment proclamation, which was in effect since 2012. After a number of consultations with the private sector representatives and the development community, the final draft has been presented to the House of Peoples' Representatives (HPR) in January 2020 and got 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" got publicized on April 2, 2020, officially repealing the long-lasted Investment Proclamation No. 769/2012 as amended from time to time.
Following this the Council of Ministers is expected to enact the Investment Regulation, which mainly puts the new proclamation to the ground. The Proclamation more of sets the high-level policy and institutional arrangements in relation to investment.