Addis Ababa, May 15, 2023 (FBC) – China’s Ambassador to Ethiopia Zhao Zhiyuan recommended that Chinese business people invest in Ethiopia’s rewarding manufacturing sector.
The ambassador told ENA that Ethiopia has great potential for Chinese investors to engage in the rewarding manufacturing sector.
Noting that Ethiopia has great potential in every area, mentioning the industry and agriculture sectors, Zhao pointed out that especially the manufacturing sector is favorable and rewarding for Chinese investors.
“Ethiopia has great potential in every area; in agriculture, in industry and in other areas,” Zhao observed.
For him, the country’s huge youth population is a great potential for rewarding investment in manufacturing industries.
“Ethiopia is a great country with a huge population , especially with the very young people—this is your great potential,” he said, adding that the improving policy and services towards industrialization are also crucial for investment in manufacturing.
“Industrialization is the path to modernization,” the ambassador underlined. “So in the manufacturing sector, I encourage more Chinese companies to come here to do more work with our Ethiopian friends. I think this is a great potential,” he said.
“The youth group is very important to the manufacturing sector and good service and policy are also very important to this sector.”
Chinese investors could, for example, engage in food processing, pharmaceutical and agricultural productions in Ethiopia, he pointed out.
According to him, the general Chinese investment in Ethiopia is increasing from time to time.
“Now we are designing several very important projects with local governments and federal government ministries to promote and establish some special zones in the industrial parks,” the ambassador said.
Stating that Trade is also the basis of the Ethio-China economic relations, the ambassador noted that the Chinese Government is implementing policies that encourage the entry of high-quality Ethiopian agricultural and industrial products to the Chinese markets to boost trade exchange.
He pointed out that China has recently allowed zero-tariff entry of several thousands of Ethiopian products to its markets.
The ambassador also stressed the need to study the way how to make high-quality Ethiopian agricultural and industrial products go to China.
“We should study how to make high-quality Ethiopia’s agricultural and industrial products go to China.”
The political, economic and people-to-people relationships are growing and expanding under the current leaderships of the two countries, according to the ambassador, and the relationship and ties in every area of cooperation will improve better in the future.