The Council of Ministers of the Federal Democratic Republic of Ethiopia approved a set of major economic and policy reforms aimed at modernizing trade, boosting investment, and strengthening entrepreneurship.
At its 52nd regular meeting, the Council unanimously agreed to forward a draft amendment to the Customs Proclamation to the House of People’s Representatives. The amendment seeks to align Ethiopia’s customs regime with the evolving landscape of international trade, support the country’s expanding manufacturing sector, and promote legal trade and investment.
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In a second major decision, the Council approved a new regulation on tax and duty incentives for investment, introducing a performance-based incentive system. The regulation prioritizes sectors with high contributions to economic growth and those requiring substantial capital investment. The incentives will take effect upon publication in the Federal Negarit Gazette.
The Council also endorsed a National Entrepreneurship Development Policy, designed to foster innovation, strengthen the entrepreneurship ecosystem, and ensure the sector’s contribution to Ethiopia’s long-term development goals. The policy will be implemented with additional resources and takes effect immediately, as of January 12, 2018.
The decisions underscore the government’s push to modernize economic governance and create a more competitive, investment-friendly environment.
