Chinese FDI in Ethiopia Reached 4 billion USD

Addis Ababa August 31/2018 About 400 Chinese investment projects worth of 4 Billion USD are in full operation in Ethiopia.

The projects operate in major development sectors have created over hundred thousand job opportunities in Ethiopia, MoFA Spokesperson told ENA.

Of the total 400 investment projects over 100 were established in joint venture with Ethiopian partners, it was indicated.

The countries have established sustained progress in infrastructure, finance and cooperation in trade.

Ethiopian high level officials exchanged 10 official visits with their Chinese counterparts and held discussions with Chinese government officials last year to strengthen their comprehensive strategic partnership, it was learned.

More than 50 Chinese companies are expected to involve in Chinese business week conference to create partnership agreements with Ethiopian companies soon.

China granted scholarships for over 2000 MA and PhD Ethiopian students excluding other trainings in the past fiscal year, the Spokesperson revealed.

China will host the FOCAC Summit 2018 in Beijing next week and African leaders are arriving in Beijing to preside over the summit.

To strengthen cooperation between Ethiopia and China, Prime Minister Abiy Ahmed and Foreign Affairs Minister Workneh Gebeyehu will participate in FOCAC summit to be held from September 03-04, 2018.

The cooperation and collaboration in United Nations, South-South Cooperation and Forum on China-Africa Cooperation between Ethiopia and China emerges strong, their consistent and predictable relations in various sectors indicated fruitful success in the South-South Cooperation concept.