Ministry Supports Trade Relations in Tigray Regional State

Apr 8 , 2023


[ssba-buttons]

Trade activities are expected to resume in Tigray Regional State following the announcement of the Ministry of Trade & Regional Integration of its plan to speed the process. Officials in the Ministry pledged to assist with supervision and capacity building following a visit to the regional state and discussion on the trade structure established by the interim regional administration last week. Manufacturers and industries have resurged in the region after the federal government and leaders in the regional state signed an accord in Pretoria, South Africa, and a subsequent declaration in Nairobi, Kenya, ending a brutal two-year war. The resumption of ties between the Ministry and the regional state further sparks a flicker of hope for the residents who have been deprived of basic consumer goods due to the supply disruption and the economy impacted by the civil war. The peace accord was further actualised by the establishment of an interim regional administration headed by Getachew Reda. Getachew formed a cabinet with 27 members composed of members from TPLF and opposition parties the same week. The officials plan to work on the supply of basic consumer goods, application of fuel subsidies, starting online registration of trade licenses, and identifying trade-related areas that need assistance.


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...