Chinese companies eye investments in Ethiopia

25 Jun '16

2 min read

As labour in China gets expensive and the economy is witnessing a slowdown, the country's manufacturing sector is exploring developing economies such as Ethiopia for production and investment.

A delegation of Chinese textile, leather and light manufacturing industry associations recently visited the Ethiopia under the aegis of United Nations Industrial Development Organization (UNIDO) and expressed their interest to invest in Ethiopia.

UNIDO goodwill ambassador and delegation leader of the Chinese industry associations, Helen Hai held talks on Wednesday with Prime Minister Hailemariam Dessalegn on ways of facilitating investment in the East African nation.

"The reason why we are coming here is actually because Ethiopia is embarking a new chapter of development which is leading a successful example for Africa to follow," Hai said according to the Ethiopian news agency ENA.

The participating Chinese delegates were from China Textile Association, Hong Kong Chamber of Textile Association, and Chinese Chamber of Light Manufacturing.

"We have signed a collaboration agreement with Ethiopian Investment Commission (EIC) and we are going to be partners", she said describing the business environment in Ethiopia as favourable.

Ethiopian Prime Minister Dessalegne said the light manufacturing industry sub-sector is one of the priority areas in his country, which looked forward to more foreign investment in this sector. (SH)

Fibre2Fashion News Desk – India

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