ADDIS ABABA, Aug. 29 (Xinhua) -- The Ethiopian government is encouraging Chinese investors to explore opportunities within the country's industrial parks and its first free trade zone.
The appeal was made by Fisseha Yitagesu, chief executive officer of the Ethiopian Industrial Parks Development Corporation (IPDC), and other senior Ethiopian officials during a recent investment promotion meeting, the IPDC said in a statement Wednesday.
Yitagesu said that Chinese investors currently constitute the largest group of foreign investors in the industrial parks managed by the IPDC across Ethiopia, emphasizing the importance of attracting more Chinese manufacturing companies to the country's 13 industrial parks and the newly established Dire Dawa Free Trade Zone.
Specifically, Yitagesu said there are promising opportunities for Chinese investors in Ethiopia's pharmaceuticals, agro-processing, and textile and garment manufacturing sectors. He added that the IPDC, in collaboration with the Ethiopian Embassy in China, is committed to providing necessary support to help Chinese businesses smoothly establish operations in the industrial parks.
This call for investment aligns with Ethiopia's broader strategy to enhance cooperation with China and establish itself as Africa's manufacturing hub. Recent data from the IPDC show that hundreds of local and foreign investors are active across Ethiopia's industrial parks and free trade zone, many of which were developed by Chinese companies. These facilities have created permanent and temporary jobs for more than 100,000 Ethiopians, particularly among the youth.
Recently, the Ethiopian government invited Chinese electric vehicle (EV) manufacturers to explore opportunities for producing and assembling EVs in the country. ■