Agriculture
Investment Incentives Provided to Encourage Investors in Fisheries Sector
The Reporter (Amharic) · 5 hours ago · Read the Full Story on The Reporter (Amharic)
AI SUMMARY
Ethiopia is introducing policy reforms, tax exemptions, and dedicated credit facilities to attract private investment into the developing fisheries sector.
- Policy reforms and investment incentives, including duty-free equipment importation and tax holidays, are being provided to attract private investors into Ethiopia's fisheries sector.
- The Ministry of Agriculture has developed a ten-year strategy for the fisheries sector, which previously operated without a master plan.
- Ethiopia has the potential to produce over 500,000 tons of fish annually, with aquaculture expected to account for the largest share.
- Annual per capita fish consumption in Ethiopia has risen from 0.5 kilograms to 2.55 kilograms, though it remains below the African average of 9.22 kilograms.
- The Grand Ethiopian Renaissance Dam currently produces 14,000 kilograms of fish daily, and similar efforts are planned for irrigation and hydroelectric dams.
- Efforts are underway to produce monosex fish seed using local technology to address shortages of fish fry and feed.
- Legal frameworks for quality control have been finalized and are nearing implementation.
- Dedicated credit facilities are being established with the Development Bank of Ethiopia and the Commercial Bank of Ethiopia to support investors and youth.
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