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Berbera Corridor Construction Commences

Mar 2 , 2019

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Construction of a road connecting Ethiopia with the Port of Berbera was officially launched last Thursday, February 28, 2019. The construction of Berbera Corridor was launched in Somaliland with the presence of Somaliland president Musa Bihi Abdi and Mustafa Mohammed Omer, deputy president of Ethiopia Somali Regional State. The 250Km dual carriageway between the Somaliland Port City of Berbera and the Ethiopian border is being funded by the UAE and the Abu Dhabi Fund for Development Construction Company. Ethiopia has a 19pc stake in the Port of Berbera, while Somaliland and DP World hold 30pc and 51pc shares, respectively.

Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...

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City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...

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Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...

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