The Council of Ministers of Ethiopia discussed and approved a draft policy document on National Special Economic Zones. When approving the draft policy document, the Council pointed out that special economic zones contribute in the enhancement of the country’s economy by improving export systems, increasing foreign direct investment, and creating employment opportunities.
The Council of Ministers has proposed a draft amendment to the National Bank of Ethiopia (NBE) to address limitations in the current legislation. The amendment aims to support development initiatives, promote national prosperity, and align with evolving international financial practices.
Ethiopia's Council of Ministers has proposed an additional budget of $866.46 million (27.9 billion birr) for the current Ethiopian fiscal year, which will end in July. The Council has referred the proposal along with other draft laws to the parliament.
Addis Tax Initiative launched on July 15, 2015 in Addis Ababa, Ethiopia, according to Ethiopian News Agency.
The Federal First Instance Court of Ethiopia launched a trade and investment bench for the first time in the country in the presence of Tagesse Chafo, Speaker of the House of People’s Representatives, Meaza Ashenfi, President of the Federal Supreme Court, and Solomon Areda, Vice President of the Federal Supreme Court, and other officials.
The trade and investment bench will entertain commercial, banking, insurance, and construction cases which are related to trade and investment.
The new bench is located at the former British Council building in Arada sub-city, Addis Ababa.
Source: Fana BC
