Title: Ethiopian Prime Minister: We Will Allow Foreigners to Own Real Estate

Ethiopian Prime Minister Abiy Ahmed stated that "his country is seeking to enact legislation that allows foreigners to own real estate as part of a broader plan to open up the economy and attract investors." Currently, foreigners are prohibited from owning homes and properties in Ethiopia, whether residential or commercial, which is seen as an obstacle to ongoing efforts to attract foreign investment. Abiy Ahmed said, "We will introduce a law that will allow foreigners to own real estate," adding that the government also intends to make amendments to existing laws to open the retail sector in the country, which is currently limited to Ethiopians. He continued by saying that the economy "has been closed, but we will push it towards opening up a bit. Therefore, we want you to be prepared for that as well."