Ministry Announces Tariff Cut for Export Commodities

Apr 25 , 2020


[ssba-buttons]

The Ministry of Transport has decreed new price reductions to support the export manufacturing industry and alleviate economic pressure caused by the Novel Coronavirus (COVID-19). The decision includes having the Ethio-Djibouti Railway provide free transport for industrial parks using it to export goods for a period of three to five months depending on the unfolding situation, effective May 1, 2020. Similarly, the Ethiopian Shipping & Logistics Services Enterprise will reduce port and transport fares at Modjo Dry Port for the manufacturing export industry for the duration of the state of emergency. All products from the Hawassa Industrial Park designated for the port will be given a 50pc reduction on transportation fees. Additionally, all dry port service fees will be reduced by 50pc. The Enterprise is also availing up to a 73pc reduction of the market price on all export items travelling from Djibouti to different parts of the world for all of its customers. For materials difficult to transport by railway, the Ethiopian Shipping & Logistics Services and transport companies will avail their services at a 50pc reduced rate.


Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...