Addis Ababa November 23/11/2018 A delegation of Chinese companies is in Ethiopia to get first hand information about the business and investment opportunities in the country. The 100 member delegation is drawn from the Zhejiang Province.
To make this real, CCPIT Zhejiang Provincial Committee, a provincial chamber of commerce, has opened a liaison office in Addis Ababa.
The opening of the liaison office is aimed at exploring the business and investment opportunities in the country so that companies from the province have the exact information.
The delegation was briefed about investment opportunities at the China Zhejiang-Ethiopia trade and investment symposium held in Addis Ababa today.
Aklilu Hailemichael, State Minister of Foreign Affairs said that investing in Ethiopia makes companies advantageous due to various reasons. Ethiopia is second largest populous country in the continent next to Nigeria, making it a potential huge market.
The country of more than 100 million peoples has abundant labor, estimated to be 50-60 million; cheap energy; and near to foreign market destination because of geographical advantage.
Infrastructure that helped to connect different parts of the country and air connectivity with potential market destinations is also another advantage of investing in Ethiopia.
“We have very good infrastructure including the best airlines in Africa, we have both domestic and foreign market opportunities, and there is also facilitation supports such as the Ethiopian investment Commission, Ethiopian Industrial Parks Corporation among others”, he said.
Aklilu said that significant number of Chinese companies is investing in Ethiopia in various areas, helping the country’s efforts of creating jobs.
Chinese investment in Ethiopia is showing significant expansion in quality and quantity, according to him.
The Chinese government and companies have been involved mainly in the development of infrastructures, he said mentioning the Addis Ababa light railway and Addis Ababa – Djibouti railway.
Noting that trade and investment relationship between Ethiopia and China have been growing, he said this will further enhanced through the belt and road initiative that China launched to boost economic cooperation and connectivity.
Economic and Commercial Counselor at the Chinese Embassy in Addis Ababa, Liu Yu, agreed on the advantage of investing in Ethiopia.
The Counselor said that Ethiopia is one of the most ideal investment destinations in Africa.
“So my Chinese friends, if you have decided to invest in Ethiopia, you are making the right decision”, she assured.