Ethiopian Cabinet Approves Key Decisions on Customs Reform, Investment Incentives, and Entrepreneurship Policy
Addis Ababa, The Gulf Observer: The Council of Ministers, chaired by Prime Minister Abiy Ahmed, on Tuesday approved a series of significant decisions aimed at advancing customs reform, strengthening investment incentives, and promoting sustainable entrepreneurship development.
During its 52nd regular session, the Council first deliberated on a draft amendment to the existing Customs Proclamation. Noting that the current proclamation has been in force for many years, the proposed amendment seeks to align Ethiopia’s customs regulations with the evolving dynamics of international trade.
In a statement shared on social media, the Office of the Prime Minister said the revision is intended to support the country’s expanding manufacturing sector, promote legal trade practices, and encourage domestic and foreign investment. Following discussions, the Council unanimously agreed to submit the draft amendment to the House of Peoples’ Representatives for further consideration.
The Council then examined a draft regulation introducing tax and customs duty incentives for investment. The proposed regulation aims to establish a performance-based investment incentive framework, with a particular focus on capital utilization. It targets priority sectors that make substantial contributions to national economic growth or require significant capital investment.
After incorporating additional inputs, the Council unanimously decided that the regulation will come into effect upon its publication in the Federal Negarit Gazeta.
In its final agenda item, the Council reviewed a draft entrepreneurship development policy. The policy is designed to ensure the long-term sustainability of entrepreneurship activities in line with national development goals. It seeks to build a supportive entrepreneurship ecosystem that fosters innovation, value addition, and a strong entrepreneurial culture across the country.
