said Sandokan Debebe

21 May

Gov’t permits foreign-owned manufacturers to supply to local market

ethionegari@gmail.com0 CommentsBusinessEthioNegari, Ethiopia, local market, said Sandokan Debebe

NEWSBut they are required to pay taxes to import inputs and forgo incentives Foreign-owned manufacturers operating in Ethiopia can supply their products to the local market if they are willing to forgo the incentives they enjoyed as a licensed exporter, the Ministry of Industry said. The departure from the law, which dictates foreign-owned producers to only supply their products to the international market, is intended to help the country substitute its growing imports, which are valued at USD 14 billion dollars in the last fiscal year. “If producers want to sell their products to local suppliers, they are also required…

19 May

Industrial Parks Exported Products Worth $152.7m In Nine-Month

ethionegari@gmail.com0 CommentsNewsADDIS ABABA, AGOA, EthioNegari, Ethiopia, said Sandokan Debebe

ADDIS ABABA – Ethiopia has secured more than 152.7 million US dollars from manufacturing products’ made in its industrial parks (IPs). The revenue was generated from exports made in the first nine months of the current 2021/22 fiscal year, said Sandokan Debebe, CEO of the Industrial Park Development Corporation (IPDC). The revenue, the Corporation said, has shown a 29% jump as compared to the same months of the previous fiscal year. In the same period, the IPs also supplied products worth $113.5 million to the local market in support of the government’s import substitution push and cut foreign currency spending.…