Committee vows to encourage more Chinese firms to engage in Ethiopian IPs

Addis Ababa, October 9, 2023 (FBC) – The Ethiopia-China Cooperation Committee has pledged commitment in encouraging more Chinese investors to enter and manufacture in the Ethiopian industrial parks.

The Committee reiterated its commitment during the meeting between Mr. Aklilu Tadese, CEO of Industrial Parks Development Corporation of Ethiopia (IPDC), and Betty Xu, President of the Ethiopia-China Cooperation Committee.

In their discussion, both sides advised on activities to be done in order to entice Chinese investors under the Ethiopia-China Cooperation Committee to engage in the Ethiopian Industrial Parks.

In that regard, the IPDC CEO Mr. Aklilu shed light on the lucrative investment opportunities in the industrial parks and free trade zones, convenient infrastructure and investment incentives provided by the government for foreign investors.

Betty Xu, for her part, pledged that the Committee will work diligently in cajoling more Chinese investors to enter the Ethiopian industrial parks. She underlined that concerted efforts are instrumental in achieving the objective.

There are more than 100 Chinese manufacturing companies engaged in automobile, machinery, agro-processing and other manufacturing sectors under the Ethiopia-China Cooperation Committee, according to IPDC.

It was also stated that an agreement has been reached to organize an investment forum in China that includes stakeholders.