Resilient Ethiopia boasts bountiful natural resources that beg for further harnessing for common benefits. As has been witnessed in the tourism sector, Ethiopia has been the center of attention for foreign investors across the globe. Besides, Ethiopia is situated in a special global corner conducive to trade and investment. Moreover, it teems with less expensive manpower—or easily trainable on top of the skilled ones.
In cognizance of the aforementioned facts, investors across the globe who do not attach a political string to their ventures come to Ethiopia in droves to enjoy perks and assist their partners in advancing in the avenue of development.
The Ethiopia-China relationship is longstanding. The socioeconomic and political relationship between the two countries is as strong as the one between good neighbors. This cohesion is attributable to Ethiopia’s being a gateway to China’s investment in Africa. Inking several agreements Ethiopia and China have grounded their relationship on a firm foundation.
In light of the Ethio-China Chemistry ever putting down roots, come rain or shine as seen during the Covid-19 pandemic, China’s investment in Ethiopia is snowballing. China’s investment has served as a springboard to Ethiopia’s economy allowing it to catapult to new heights. Since such a genuine partnership has a significant role in turning around a developing country like Ethiopia such a bond must be allowed to pick steam down the road.
Ethiopia also deserves appreciation for creating a conducive environment for China’s investment. When it comes to infrastructural development industrial parks are built in different parts of the country. After the full completion of infrastructural facilities, the number of Chinese companies that joined the investment sector is significant.
Curbing unemployment such investment ventures offer job opportunities for a multitude of youths. They as well play quite a role in knowledge transfer letting go or sharing an asset garnered the hardest way.
Ethiopia is also striving to realize import substitution. At this juncture, it is due to underline the paramount role China’s investors played in the birth of industrial parks and their operation. Currently, the presence of a multitude of companies of China in Ethiopia showcases that such a bond is helping Ethiopia curtail the voluminous outflow of hard-won hard currency. Also, Ethiopian entrepreneurs engaged in import-export trade are doing a commendable job by troubleshooting the shortage of some commodities closely working with their Chinese counterparts. This also talks loud the clicking between the two countries.
The salient reason ascribable to the consolidation of trade is the inflow of Chinese investors that outlay a huge wealth on the investment sector.
When it comes to Foreign Direct Investment (FDI), the country is entertaining China’s investment stands out from the crowd.
To quantify things so far Chinese investors outlaying 8.5 billion USD in 3,300 projects have helped buttress Ethiopia’s economic activities. As a token of gratitude and encouragement, higher government officials, and stakeholder organizations in the sector have paid homage to some of the Chinese companies around the peripheries of Addis such as Dukem. About 93 percent of the 153 development opportunities made possible in the private Eastern Industrial Park zone, the mammoth one in the country, are utilized by Chinese investors. Close to 325 thousand citizens have got job opportunities thanks to China’s investment.
The Ethiopian Herald October 13/2024
