The Ministry of Finance has announced that motorboats may now be imported into Ethiopia free of tariffs and taxes for a one-year period. The move is aimed at leveraging the country's vast inland water resources to boost the tourism sector.

In a statement, the Ministry noted that Ethiopia is home to more than 20 large lakes with significant potential to become major tourist destinations. To support the development of these lakes, the Ministry has issued a new directive under the authority of the Customs Proclamation No. 859/2006 (as amended).

Effective immediately for a period of one year, the directive allows any commercial entity to import a variety of motorboats without incurring customs duties or taxes. The eligible boats include:

Outboard motor boats for fishing and short-distance passenger transport.

Speedboats for tourism and emergency services on medium-sized lakes.

Tourist excursion boats (transparent or partially covered).

Ferries for passenger transport.

Research boats.

Private motorboats.

Eco-friendly boats powered by solar or electric energy.

Pontoon boats.

This initiative is part of a broader effort to develop the country's lakes for tourism, with the Ministry expressing confidence that the tax waiver will encourage investment in a crucial sector of the economy.