Ethiopian is promoting the construction of industrial parks throughout the country to create favorable investment environment for investors and attract more enterprises to take part in nation’s untapped investment potentials.
Of late, the second the China-Ethiopia Industrial Capacity Cooperation Exposition was observed at Addis Ababa Exhibition Center to promote the two countries trade and investment progress, enhance cooperation and build the capacity of Ethiopian industrialists by creating a platform through which Chinese entrepreneurs and their counterparts could exchange business ideas.
Opening the Exposition State Minister of Trade and Industry Teka Gebreyesus underlined that the Industrial Capacity Cooperation Exposition is serving as platform to bolster joint trade and investment endeavors and let the nation to take lots of experiences.
“The 2nd China-Ethiopia Industrial
Capacity Cooperation Exposition 2019 opens opportunities for public and private business to work hand in hand, promote trade and investment to achieve mutual benefits.”
Ethiopia is one of the most dynamic nations in Africa which managed to register an awesome economic growth for over the last many years. The economic growth that the nation is scoring is the result of its economic policy and strategies, he added.
The Exposition fully demonstrates that the partnership between China and Ethiopia is moving towards a deeper and higher level.
Chinese Charge d’Affaires in Ethiopia Xia Tian for his part noted that Ethiopia and China have been enjoying Comprehensive Strategic Cooperation Partnership of which economic cooperation is a fundamental part.
According to him, China is the biggest trading partner of Ethiopia and in 2018 only it imported 345 million USD goods from Ethiopia, more than ten percent of Ethiopia’s total export. China also exported 205 billion USD of goods to Ethiopia in the same year.
According to the data as of early this year of Ethiopia Investment Commission, China is the biggest foreign investment source for Ethiopia, with investment reaching 4 billion USD, China is committed to further strengthening the bilateral friendly relationships and cooperation in every aspect, he added.
Ethiopian Chamber of Commerce and Sectorial Association (ECCSA) President Engineer Melaku Ezezew for his part said that energy, agriculture and many other sectors are some of the key priority areas of investment in Ethiopia.
The government has also put in place incentives such as reasonable land lease price, tax holidays, tax exemptions among others. There are plenty of rooms for Chinese investors to work in joint venture with their counterparts.
So far in the investment sector, more than 602 Chinese projects are in operation phase with a capital of more than 18.5 billion Birr, and have created 38 thousand permanent and over 40 thousand temporary employment opportunities.
He further noted that more than 30 Chinese companies took part and discussed on the potential investment and business opportunities of both countries.
The event brought together 44 entrepreneurs from 15 provinces of China to Ethiopia engaged in the sectors such as construction, machinery, energy, production of agricultural equipment, food processing and automobile spare part manufacturers among others.
The Ethiopian Herald October 30, 2019
BY MENGISTEAB TESHOM
