Lawmakers Contemplate Easing Export Rules to Boost Trade

May 18 , 2024


[ssba-buttons]

  Ethiopia aims to revitalise its export sector with a revised export incentive policy. A bill that proposes a 40pc reduced penalty on unused duty-free raw materials made it to the Standing Committee on Budget & Finance last week. It amends the 2012 Export Trade Duty Incentive Schemes while exporters gain more flexibility to ship products manufactured using duty-free materials. It also allows exporters to re-export defective duty-free materials to the source country without penalty. Tesfaye Beljige, Government Chief Whip, argues this will expedite the work of exporters and boost foreign currency earnings. However, Parliamentarians have raised concerns about its alignment with international trade agreements and the potential loss of tax revenues. They pointed out the 70 billion Br loss from the duty-free imported items, requesting further discussion.


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...