Ethiopia eyes more investment from China

ADDIS ABABA: Ethiopia anticipates increasing foreign direct investment from China, Ethiopian officials have said.

Lelise Neme, commissioner of the Ethiopian Investment Commission, told Xinhua that her office has witnessed increasing investment requests from Chinese investors.

“My expectation of the Chinese investment in Ethiopia would double shortly. We expect a lot of investment coming from China, especially in the manufacturing, renewable energy and agriculture sectors,” Neme said.

Indicating that Chinese investors play a pivotal role in creating job opportunities and transferring technology, Neme said Chinese investors are special in that they come with their capital to invest in the host countries.

“That is a huge milestone for Ethiopia, and they are not only investors, they are also partners and resolve challenges together,” Neme added.

The comment came during a three-day annual investment forum, which kicked off on Wednesday under the theme “Invest Ethiopia 2023” in the country’s capital Addis Ababa, attracting hundreds of foreign investors, policymakers and development partners.

Dawano Kedir, deputy head of the Ethiopian Embassy in China, said more than 100 Chinese investors, the majority of them new ones, have arrived in Addis Ababa to take part in the investment forum and see possible investment opportunities in the East African nation.

Appreciating China’s huge investment potential, Kedir said the Chinese investors have all the capacity and the technologies to invest in Africa and are less hesitant to take reasonable risks for common development.

“I expect a huge number of Chinese investors to invest in Ethiopia. They are doing some arrangements, signing of agreements, establishing joint ventures and getting licenses ready,” Kedir said.

China has been Ethiopia’s largest trading partner and biggest source of investment for many consecutive years. Ethiopia is also tapping into Chinese investors to boost its export potential both to China and elsewhere across the globe.