Ethiopia Invited Chinese Investors to Engage in Priority Sectors

Source: Ethiopian Monitor

ADDIS ABABA – The Ethiopian Investment Commission (EIC) pledged support for Chinese investors keen to engage in priority sectors.

EIC officials are part of the high-level Ethiopian delegation attending the China-Africa Economic and Trade Expo in the Hunan Province city of Changsha. 

The annual Expo, held for the third time, aims to welcome more ‘made in Africa’ products into China and boost business ties between the two sides.

Deputy Commissioner Daniel Teress spoke with Chinese investors, who are keen to invest in Ethiopia, at a matchmaking conference held as part of the Expo.

He “shared unique investment opportunities, the facilitation and aftercare services that are in place to smooth the investment registration process”, per EIC.

Chinese companies are the major investors in Ethiopia, engaging in diverse sectors, including industrial parks, processing, manufacturing, and construction.

They were also active participants in an investment forum in April that saw $1.6 billion in deals signed.

In Hunan, deputy commissioner Daniel extended his invitation to investors to visit his country and “explore priority sectors for further engagement.”

Agriculture, mining, energy, tourism, health, transport and logistics, manufacturing, lCT, and Special Economic Zones are among the sectors that authorities see as priorities for foreign investment.

In his meeting with Chinese investors, Daniel assured the government’s support and commitment to realize their investment.

“The potential investors on their part showed a keen interest to explore investment opportunities in Ethiopia,” the EIC disclosed after the matchmaking conference.

Thr Ethiopian delegation whuch also includes Agriculture minister Girma Amente, and Social Affairs Minister Ergoge Tesfaye also attended varioua discussions in the China-Africa Economic and Trade Expo.

This year’s expo comes months after China implemented zero tariff treatment on 98% of goods originating from three African countries including Ethiopia.

At the expo, Chinese Vice President Han Zheng said Beijing is willing to provide new opportunities for Africa and will make the pragmatic cooperation between the two sides deeper and more solid.

China has been Africa’s largest trading partner and fourth-biggest source of investment in the past decade. Recently, it has also become the second-largest destination for African agricultural exports, which rose by 26.7% to $2.24 billion in the last 5 months, prt Xinhua news agency report.

ABOUT THE AUTHOR: Ethiopian Monitor

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