DPM & FM Demeke invites Chinese companies to seize Ethiopia’s enticing investment opportunities

On May 29, 2023 153

Addis Ababa, May 29, 2023 (FBC) – Deputy Prime Minister and Minister of Foreign Affairs of Ethiopia, Demeke Mekonnen, called on Chinese companies to invest in Ethiopia.

In his speech at the investment forum held in Guangzhou, the main investment center of China, on May 28, 2023, the Deputy Prime Minister and Foreign Minister asked Chinese companies to invest in Ethiopia, seizing up the best investment opportunities in the country.

He said Ethiopia and China have a strong relationship and emphasized that it should be strengthened further in the economic sphere. More than 300 investors from the manufacturing, agricultural, mining, energy, pharmaceutical, and other sectors participated in the investment forum.

According to Zhao Qing, Director General of the Guangdong Province’s Department of Commerce, numerous businesses in Guangdong involved in manufacturing, building infrastructure, mining, telecommunications, and other industries desire to enter and operate in Ethiopia.

Ethiopia’s ambassador to China, Tefera Derbew, made a statement on the occasion, saying the business forum will further solidify relations between the two countries.

Guangdong province’s gross domestic product (GDP) is over 1.8 trillion US dollars, making it the largest among all 32 provinces in China. Its total output has reached more than one trillion dollars.

In related news, Demeke Mekonnen met and discussed with the Mayor of Guangzhou, Guo Yonghang, where he emphasized the need to create a relationship between Guangzhou and Ethiopian cities in order to strengthen people-to-people ties.

Guangzhou has a population of 16 million and is the capital of China’s business hub, Guangdong Province.

The mayor called on the Ethiopian manufacturers to make Guangzhou their destination for Ethiopian export products.

During his stay in Guangzhou, Demeke visited companies related to electronics, information technology, and power generation and invited them to engage in Ethiopia.