EIC, China Chamber of Commerce meet to boost investments in Ethiopia
Addis Ababa, January 2, 2025 (FMC) – The Ethiopian Investment Commission (EIC) held a consultative meeting with the China Chamber of Commerce and the Chinese Embassy to enhance the performance of Chinese investors in Ethiopia.
The half-day event was held in the presence of EIC Chief Commissioner Mr. Zeleke Temesgen and Ambassador of China to Ethiopia, Chen Hai.
The meeting aimed to create a favorable business environment and attract more Chinese investments. According to EIC, China is the leading source of Foreign Direct Investment (FDI) in Ethiopia, with over 3,300 active projects, primarily in manufacturing and construction, generating more than 325,470 jobs.
In the past five years, Chinese investors have accounted for over 50% of new investment projects in Ethiopia. EIC noted that Ethiopia has established a strategic partnership with China, underlining their strong bilateral ties.
The consultative meeting serves as a precursor to a broader Public-Private Dialogue that the Government of Ethiopia will conduct with Foreign Direct Investment projects operating in Ethiopia aimed at optimizing the contributions of existing investments to Ethiopia’s economic growth and fostering a streamlines and eased investment climate.
It is known that Ethiopia and China have elevated their enduring relations to an “All-Weather Strategic Partnership during a meeting between Prime Minister Abiy Ahmed of Ethiopia and President Xi Jinping of China on the sidelines of the third Belt and Road Forum for International Cooperation on 17th October 2023 in Beijing.