Investment
Investment

Ethiopia wants more Chinese investment in its industrial parks, a senior Foreign Ministry official said here on Monday.

Dewano Kedir, permanent secretary at the Ethiopian Ministry of Foreign Affairs, expressed admiration of China’s fast economic transformation over three decades and called on Chinese firms to boost their involvement in Ethiopia’s manufacturing sector.

“Ethiopia has registered double digit economic growth for the last decade and is striving to become the manufacturing hub in Africa, with involvement of extensive Chinese capital,” Kedir told a Chinese delegation led by Yao Fukang, deputy director of Standing Committee of Luzhou Municipal People’s Congress.

Luzhou city is located in the southeast part of China’s Sichuan province. It is renowned for its machine construction, chemicals, tourism, and agriculture industries.

Ethiopia has so far commissioned five industrial parks and plans to commission six more during the current Ethiopian fiscal year, which started on July 8.

Yao, for his part, said Ethiopia is a favored investment destination for Chinese companies and pledged to play his part in further strengthening trade and investment ties with Ethiopia.

He praised Ethiopia for its “well engineered investment policies and bright economic future.” Enditem

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