Industry Players Counter the Chambers' Proposed Reform

May 13 , 2023


[ssba-buttons]

The national and city chambers and sectoral associations pleaded their case on the proposed amendment of the bill for their re-establishment which has been in the making for the past three years. The ailment of stipulating a regulatory body between the general assembly and boards of directors, the 'unsettling' responsibilities of the Addis Chamber and the Ethiopian Chamber, and the number of board members selected had been hot topics in the discussion. Yohannes Woldegebriel, arbitration institute director at the Addis Chamber of Commerce & Sectoral Association, was in fury because the Ministry of Trade & Regional Integration had failed to tend to the written recommendations submitted over a month ago. "Our inputs were not considered," he said. According to Yohannes, the bill is proposed to strengthen the Ethiopian Chamber & Sectoral Association, which was passive for the past two decades. Bekele Tsegaye, the Chemical and Manufacturers Association president, concurs that the Ethiopian Chamber lacks the competence to be given the power to control businesses and rule over the city chamber. He suggested that the roles of both parties should clearly be considered lest it creates a toxic competition among them. "That will make both grow weaker," he said. Another panellist, Gebrewold Ashengo, a business development specialist, said chambers should not be seen based on their hierarchies but rather on the roles they had played over the years. "This is not a political order," he told Fortune. He recommended the mandate to engage in foreign policies and national agendas should be given to the Addis Chamber as it has played a significant role for the past several years.


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...


Radar

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...


Radar

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...