Tag: MoF

In the face of an ongoing political volatility, the macroeconomic performance of Ethiopia, exacerbated by soaring double digit inflation and decline in export earning, is becoming a matter of grave concern to the nation, Ministry of Finance said this week.

Enforced for the past 17 years, and in recent times becoming a tiresome affair to conduct business, a new draft bill has offered an improvement to key provisions of the VAT proclamation, vying for a more friendly business atmosphere than the one created by the existing law.

The Ministry of Finance has released initial documentation for the purpose of inviting local and international investors to express their interests in relation to the privatization of scores of sugar factories, both already commissioned and still under construction, The Reporter has learnt.

The Ethiopian Sugar Development Corporation (ESDC) has awarded a USD 95 million contract for China CAMC Engineering Co. Ltd (CAMCE) – a Chinese construction firm - to undertake the construction of the unfinished Tana Beles-I sugar plant project, The Reporter has learnt.

The Government of Ethiopia is investigating previous ways and procedures of importing palm oil by selected private companies, The Reporter has learnt.