Embassy in Beijing working to lure more Chinese Investors to Ethiopia – Envoy

Adds Ababa, August 27, 2024 (FBC) – Ethiopia’s Ambassador to China, Tefera Derbew, and the CEO of Ethiopia’s Industrial Parks Development Corporation (IPDC), Fssseha Yitagesu, engaged in a video conference to discuss the ongoing initiatives by the Ethiopian Embassy in Beijing aimed at attracting more Chinese investors to Ethiopia.

During the conversation, they exchanged detailed ideas on the conditions under which more Chinese manufacturing companies and investors can invest in Ethiopian industrial parks and the Dire-Dawa Free Trade Zone, particularly in the pharmaceuticals, textile and garment, and agro-processing investment sectors.

The IPDC CEO elaborated on the new investment opportunities available in all 13 industrial parks and the Dire-Dawa Free Trade Zone, and encouraged more Chinese investors to invest. He expressed his willingness to collaborate with the embassy to achieve this objective.

Additionally, they reached a consensus on issues that should be jointly planned and executed, particularly the construction of the Adama Hunan Industry Park, which has faced delays for years. They further discussed promoting favorable investment options and incentives in industrial parks and negotiating and lobbying potential Chinese investors to invest in various sectors.

Chinese investment in Ethiopian industrial parks and the Dire-Dawa Free Trade Zone has been the highest number of foreign investments in Ethiopia so far.