You thought the South African government was bad about blocking foreign investment in SA. The Ethiopian government blocks foreign investment in the following sectors (according to US state department):
- insurance, and
- financial services.
- air transport services;
- travel agency services,
- forwarding and shipping agencies;
- retail trade and brokerage;
- wholesale trade (excluding supply of petroleum and its by-products as well as wholesale by foreign investors of their locally-produced products);
- most import trade;
- export trade of raw coffee, chat, oilseeds, pulses, hides, and skins bought from the market; live sheep, goats and cattle not raised or fattened by the investor;
- construction companies excluding those designated as grade 1;
- tanning of hides and skins up to crust level;
- hotels (excluding star-designated hotels);
- restaurants and bars (excluding international and specialized restaurants);
- trade auxiliary and ticket selling services;
- transport services;
- bakery products and pastries for the domestic market;
- grinding mills;
- hair salons;
- clothing workshops (except garment factories);
- building and vehicle maintenance;
- saw milling and timber production;
- custom clearance services;
- museums, theaters and cinema hall operations;
- and printing industries.
The state also owns all the land in the country, private citizens can only lease land for 99 years from the state. Therefore land can’t be used as collateral for loans.
And we wonder why a place like Ethiopia is so poor?