Ethiopia’s renewable energy sector presents massive opportunity for foreign investors – Envoy
Addis Ababa, December 25, 2024 (FMC) – Strategically located at the crossroads of Africa, the Middle East, and Asia, Ethiopia presents a significant opportunity for the development of the civil aviation industry, which can strengthen its strategic cooperation with China, according to Ambassador Tefera Derbew of Ethiopia to China.
In a recent interview with the Henan Broadcasting System, Ambassador Tefera emphasized the ever-growing partnership between Ethiopia and China, particularly in the economic field.
The strategic location of Ethiopia and China’s Henan Province, a major transportation hub connecting all corners of the Asian country, is ideal with the potential to reach nearly 4 billion people worldwide, Ambassador Tefera highlighted.
It is worth noting that with an invitation of Ethiopian Embassy in Beijing, China’s Henan Aviation Group has recently participated in the celebration of the 80th anniversary of the International Civil Aviation Organization (ICAO), which was held in Addis Ababa from December 9-12, 2024.
During the celebration, an MoU was signed between Ethiopian Airlines and the Henan Aviation Group. Ambassador Tefera emphasized that this milestone demonstrates the strong fraternal relations between Ethiopia and China, which he mentioned is also part of the bilateral agreement between the two countries in the aviation sector.
The Ambassador stated that his Embassy is more than ready to provide the necessary support in facilitating the implementation of the MoU into concrete actions and projects.
In addition to the MoU signed between Ethiopian Airlines and the Henan Aviation Group, Ambassador Tefera also highlighted Ethiopia’s enormous market opportunity for New Energy Car, a renowned electric car manufacturer from Henan Province. He also expounded on Ethiopia’s agricultural export commodities such as coffee, sesame, mung bean, among others, which can be sent to the Chinese market.
The Ambassador reminded Ethiopia’s aspiration to become a renewable energy hub with intensified strides to transition from traditional energy sources to more sustainable alternatives.
According to him, Ethiopia’s economic reform policy encourages the development, assembly, and import of electric vehicles as well as the setting up of charging stations in the country, which offers a huge market opportunity for EV manufacturers, including New Energy Car.
In addition to the points mentioned earlier, Ambassador Tefera also reminded that Ethiopia’s renewable energy sector is widely open for foreign investors, including Chinese companies. This presents a significant opportunity for collaboration and investment in the country’s renewable energy sector, which is in line with Ethiopia’s aspiration to become a renewable energy hub in East Africa.