Ethiopia to implement favorable policies to attract Chinese investment: Commissioner

Addis Ababa, September 4, 2023 (FBC) – Ethiopia plans to expand economic relations with China by developing favorable policies for foreign investment and highlighting priority sectors to attract Chinese firms to Ethiopia, according to Lelise Neme, commissioner of the Ethiopian Investment Commission.

“When we see the database, there is a huge flow of Chinese investment to Ethiopia, and we have five priority sectors that any Chinese can invest in, which are manufacturing, agriculture, mining, ICT and tourism,” Lelise told People’s Daily Online.

The commissioner highlighted that the Ethiopian government has constructed over 30 industrial parks to attract foreign investment. Moreover, the country offers a streamlined, one-stop service for businesses operating in Ethiopia.

“Our first private industrial park was the Chinese Industrial Park, which is the Eastern Industrial Park that has created more than 20,000 jobs. And there is a huge amount of investment there, including Huajian Group. So, this will create a huge impact on the country’s economy and on creating more jobs for our people,” she said.

“As a country, we have a vision to be a beacon of prosperity in Africa. To make that happen, we will need more investment in this country. So, there is a huge potential with different sectors where (Chinese enterprises) can explore and invest,” she added.

The commissioner also praised Chinese investors and businesses in Ethiopia for their significant contributions to the country’s economic and social progress.

“What I like best about Chinese business is that they always have a solution to any problem. They will not complain about the challenge; rather, they want to be a part of resolving it,” added the commissioner.

Speaking of the Belt and Road Initiative (BRI), the commissioner highlighted the benefits Ethiopia has gained from it over the past few years, including the development of essential infrastructure.

“My expectation of the BRI is to have more investors in Ethiopia, especially investing in infrastructure, further strengthening our relations and diplomatic ties, so that we can have more Chinese to invest in Ethiopia and to create jobs, as well as have a cultural relationship that will create a linkage to both countries,” she added.