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PART NINE
The Investment Authority

29. Re-establishment
1) The Investment Authority is hereby re-established as an
autonomous public institution having legal personality;
2) The Authority shall be accountable to the Investment Board.

30. Powers and Duties of the Authority
The authority shall:
1) serve as a nucleus for matters of investment and promote,
coordinate and enhance activities thereon;
2) initiate and submit to the Board policy and implementation
measures needed to create a conducive investment climate for both
domestic and foreign investors and follow up the implementation
of same upon approval;
3) collect, compile, analyze and disseminate information on the resource potential of the country and on the investment opportunities it offers, promote concrete investment projects, provide, upon request, match-making service of possible joint investment partners;
4) organize, with a view to helping promote investment, such activities as exhibitions, training and seminars locally or abroad as may be appropriate, give advisory support to investors;
5) realize liaison and coordination between investors, public offices, Regional Governments and other relevant organs, with a view to enhancing investment;
6) prepare and distribute pamphlets, brochures, films and other materials that help enhance investment;
7) issue investment permits in accordance with Article 23 of this Proclamation;
8) monitor the implementation of investment projects for which it has issued permits and ensure that the terms of the investment permits are compiled with;
9) approve and register technology transfer agreements related to investments;
10) negotiate bilateral investment promotion and protection treaties
for conclusion between Ethiopia and other countries and
sign same upon approval by the Council of Ministers;
11) give advice and technical support to regional investment organs
with a view to building up their capacity; and
12) perform such other functions as may help to promote and enhance
investment.

31. Organization of the Authority
The Authority shall have:
1) a Director General and a Deputy Director General to be appointed
by the Government; and
2) the necessary staff.

32. Powers and Duties of the Director General
1) The Director General shall be the Chief Executive Officer of the
Authority and, as such shall, subject to the general directives of the
Board, direct and administer the activities of the Authority;
2) Without limiting the generality of Sub Article (1) of this Article,
the Director General shall:
(a) exercise the duties of the Authority specified in Article 30 of
his Proclamation;
(b) employ and administer the personnel of the Authority in
accordance with the Federal Civil Service Law;
(c) prepare and submit to the Board the work program and budget of the
Authority and implement same upon approval;
(d) effect expenditure in accordance with the budget approved for the
Authority;
(e) represent the Authority in all its dealings with third parties; and
(f) prepare and submit to the Board reports on the performance and
financial operations of the Authority.
3) The Director General may, to the extent necessary for the efficient
performance of the functions of the Authority, delegate part of his
powers and duties to other officials as well as employees of the
Authority.

33. Source of Fund
The sources of the fund of the Authority shall be:
(a) budgetary allocations made by the Federal Government;
(b) income, assistance and grants obtained from any other sources.

34. Books of Accounts
1) The Authority shall keep complete and accurate books of accounts.
2) The accounts and financial documents of the Authority shall be audited annually by the Auditor General or by auditors designated by him.