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Diasporas get thumbs up to venture into banking

A new draft bill, which was designed to amend the existing, restrictive banking and financial services proclamation, has been tabled before the House of People’s Representatives (HPR) offering a new regulation, which has given the green light to foreign nationals of Ethiopian origin to engage in the banking and financial services sector.

Draft bill takes aim at key provisions of VAT proclamation

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.

MoLSA to push for livable wages in ind. parks

The newly amended Ethiopian labor law, which is initiated by the Ministry of Labor and Social Affairs (MoLSA) and currently under review by the parliamentary standing committee, is said to have incorporated provisions that would help protect the basic rights of workers in terms of safe working environment and decent and livable wages, at the time when global rights advocates are increasingly publicizing the so called “exploitative” wages paid to works at newly built industrial park structures.           

New authority to regulate petroleum, its business

The House of People’s Representatives (HPR) has approved a draft legislation for the establishment of Petroleum and Petroleum Products Supply and Distribution Regulatory Authority. First tabled before the House in April this year, entitled, ‘a Proclamation to provide for the Establishment of Petroleum and Petroleum Products Supply and Distribution Regulatory Authority, was referred to the Trade and Industry Affairs Standing Committee for further revision.

Bill empowers regional states over mining

The House of People’s Representatives (HPR), on Thursday, approved a draft proclamation regulating the country’s mining sector and transactions empowering regional states with the right to grant and regulate mining and competency licenses.