Ambassador lauds companies from Hubei province of China for fruitful investments in Ethiopia

Addis Ababa, January 8, 2024 (FBC) – In his remarks at the first conference of the “Hubei Province “Go Global” Enterprise Strategic Cooperation Service Alliance” on Monday, Ethiopian Ambassador to China, Tefera Deribew commended significance of such platform in enhancing trade, economic relations between Ethiopia and China.

Ambassador Tefera stated that the conference lauded the conference as an ideal platform to enhance the economic relationship between Hubei Province and Ethiopia.

“Ethiopia has strong economic ties with Hubei Province. For instance, the construction company Gezhouba Group, which is the founder of this cooperation alliance, is one of the anchor companies engaged in the investment sector in Ethiopia, and the Human-Well pharmaceutical company that is engaged in the pharmaceutical field is also another anchor company that has invested in my country, Ethiopia,” the Ambassador said.

These companies have significantly contributing to job opportunities for Ethiopian youth and generating additional revenue for the country’s economy, he explained.

“In addition to these, we are working closely with the leaders of Wuhuan Engineering Group to construct a fertilizer factory in Ethiopia, and I hope it will reach a concrete result soon,” he said.

Ethiopia has developed 29 industrial parks (public and private) to provide investors with ready-made production shades with one-stop services, adequate infrastructure, and waste treatment facilities.

Ambassador Tefera further reiterated government’s commitment to fostering and improving the existing cordial relations with Hubei Province and China at large.