Investment climate of Eritrea

Eritrea’s Strategic Location along the Red Sea provides ideal exposure to one of the world’s busiest shipping lines and established linkages to other areas of the region and beyond.

The Government of the State of Eritrea (GSE) maintains a command economy, with government activities predominating over private enterprise. Many key firms are party or military-owned. In the course of 2012, the GSE began encouraging some types of international investment.

Investment in exploration activities for reserves of oil, natural gas and other minerals provide a potential source for the expansion of export receipts. Eritrea’s natural mineral resources include gold, copper, potash, zinc, oil, natural gas, cement, gypsum, granite, marble, ceramics and limestone and iron ore

The government is seeking to privatize some state-owned firms, but at present Eritrean dual nationals are the main targets of investment encouragement. Eritrea’s national development priorities are clearly spelled out in policy statements related to infrastructure, human resources and food security.

Eritrea’s labor pool is well qualified compared with that in neighboring states and this gives more hopes to those who want to invest in the country.

Regulatory Framework

Eritrea Investment Centre

The Eritrea Investment Center was created in 1998 to promote the country as an attractive investment destination. The Investment Center is a department functioning under the Ministry of Trade and Industry is a one-stop shop for promoting and facilitating investments in Eritrea. The center is committed to support and encourage investment by assisting investors to acquire the necessary legality and by way of incentives and guaranties.

Investment Climate in Eritrea has been summarized to include the following

Development partners of Eritrea

Exports of Eritrea

International Trade Agreements with Eritrea

Investment Authority of Eritrea

Investment Guarantees in Eritrea

Investment incentives in Eritrea

Investment opportunities in Eritrea

Natural Resources of Eritrea

Trading Partners with Eritrea

Shipping Status

 

For more reading

http://www.shabait.com/categoryblog/8210-investment-in-eritrea

http://www.state.gov/e/eb/rls/othr/ics/2013/204637.htm

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