Eritrea Finance Profile | glObserver Global Economics

(eritrea_by_night-globserver) Executive Summary The investment climate in Eritrea is not conducive to U.S. investment . While there is opportunity, particularly in the extractive industries sector, the Government of the National of Eritrea (GSE) maintains a command economy, with government activities predominating over private enterprise.

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According to its Five Year Indicative Development Plan 2014-2018, the GSE states that it wants to encourage Foreign Direct Investment , but its policies belie those pronouncements. The GSE began encouraging some types of international investment in 2012, and some currency reforms were introduced in 2013, thus ending, as a matter of doctrine, years of adherence to self-imposed isolation and strict self-reliance. A series of broader reforms that would relieve restrictions on business licensing and imports, described as ready for enactment several times as far back as 2013, have at no time been approved by the President. Recently, additional flights in and out of Asmara have been added to replace Lufthansa flights that terminated in 2013. Eritrea completed Millennium Development Goals related to public health in the course of 2014, and is making evolution toward other MDGs.

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Author: globserver

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