Africa-Press – Ethiopia. A delegation of seventeen Chinese companies has arrived in Addis Ababa to explore investment opportunities across various sectors in Ethiopia.
This visit comes on the heels of Prime Minister Abiy Ahmed’s recent trip to China, during which 14 agreements were signed to strengthen bilateral relations between the two countries.
The delegation, led by Xu Lejiang, Executive Vice Chairman of the All-China Federation of Industry and Commerce (ACFIC), met with Ethiopian Investment Commission (EIC) Commissioner Lelise Neme.
On the occasion, Xu emphasized ACFIC’s extensive network of over 140 million non-public market entities, highlighting its role in connecting Chinese businesses with the rest of the world.
In a notable statement, Xu underscored ACFIC’s extensive reach, serving more than 140 million non-public market entities and 110 million individual businesses, highlighting its role in connecting business in China and the rest of the world.
Emphasizing Ethiopia as not only the gateway to African markets but also the primary entry point, the Vice Chairman highlighted the significance of conducting investment forums in both nations to cultivate relations and bolster endeavors in attracting Chinese investments to Ethiopia.
The visiting companies expressed interest in investing in Ethiopia’s in many other priority sectors.
Chinese Ambassador to Ethiopia Zhao Zhiyuan noted the strategic importance of having Chinese firms participate in Ethiopia’s fertilizer and steel industries.
Ambassador Zhao, accentuated the strategic importance of engaging Chinese enterprises in Ethiopia’s fertilizer production and steel industry as key areas for intervention.
Representatives from the delegation expressed interest in investing in Ethiopia’s steel, manufacturing of fertilizer, agriculture and other economic sectors.
The meeting was concluded with a commitment to deepen relations, and host an event together to promote sector specific investment deals in Ethiopia to spur Chinese investments into Ethiopia.
With its rapid economic growth and gateway status to African markets, Ethiopia is an attractive destination for Chinese capital.
This high-profile visit suggests further strengthening of Sino-Ethiopian business relationships in the near future.
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