Duty-Free Privileges Valued at 81b Br

Aug 21 , 2021

Duty exemptions granted to importers last year had a total value of 81 billion Br, the Ministry of Revenues announced. As part of the country's initiative to draw investment, the government has been offering duty-free import privileges to importers involved in several sectors of the economy, including the hospitality industry. Using franco-valuta, importers of basic goods such as sugar, edible oil, rice, and wheat, were also granted the privileges last year with the target of easing the cost of living in Ethiopia. Earlier this year, the Ministry of Finance centralised the provision of incentives like duty exemptions and is now solely in charge of the approval process.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...