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The Ministry of Labour and Social Affairs (MOLSA) said it would complete developing the implementation plan for overseas employment by the end of September. According to the Minister of Labour and Social Affairs Hirut Woldemariam (PHD), MOLSA is closely working with the national committee and representatives of host countries to stop illegal immigration. She said a new system was developed to give detailed information to the applicants.

Domestic products substituted import goods worth USD 1.1 billion during the first half of the 2022/2023 fiscal year. Manufacturing companies were also able to generate USD 194 million from export trade.

The Ministry of Industry announced that 663 manufacturing industries became operational in the past 5 months creating employment opportunities for 9,600 individuals. The Ministry also stated that domestic products substituted import goods worth USD 708 million during the same period.

According to Melaku Alebel, Minister of Ministry of Industry, the manufacturing sector is being revived while investors are entering new investment areas. The country was able to export goods worth USD 161 million since the start of the current fiscal year.

Source: Ethiopian Press Agency

Ethiopia announced the incentives it will be providing for local investors who will engage in the Hawassa Industrial Park.

Ethiopia’s Ministry of Finance and Economic Cooperation (MoFEC) disclosed a draft amendment bill for the income tax regime.