Promoting investment in Ethiopia at the China-Ethiopia Industrial Capacity Cooperation Exposition
02 Jan. 2019
The International Trade Centre (ITC) Partnership for Investment and Growth in Africa’ (PIGA) project held an investment promotion event on the sidelines of the China-Ethiopia Industrial Capacity Cooperation Exposition (CEICCE) on December 4, at the Marriott Hotel in Addis Ababa.
The event gathered 80 participants, including representatives from 40 Chinese companies interested in investing in agricultural mechanization, agro-processing, energy, and light manufacturing sectors and in exploring new business opportunities in Ethiopia. It provided a unique platform for Chinese companies to better understand Ethiopia’s economic development, investment policies and business environment.
Officials from EIC, UK-Aid, and the Chinese Embassy delivered opening statements. The Deputy Commissioner Mr. Teka welcomed Chinese investors and said “these kinds of events help maintain the momentum of the already robust partnership between Ethiopia and China”. The Economic and Commercial Counsellor at the Chinese embassy in Ethiopia, Ms Liu Yu, acknowledged that “Ethiopia is one of the most popular investment destinations in Africa for Chinese investors because of its conducive investment policies”. The representative of UK-Aid and DFID/Invest Africa Programme, Ms Gail Warrander on her part emphasized that the UK could be a valuable partner for China to engage in Africa, due to UK’s long experience in Africa.
The event included presentations on the investment climate in Ethiopia, opportunities for investment in industrial parks, best practices for sustainable investments, as well as experience sharing by Chinese investors based in Ethiopia. In relation to these topics, Mr. Teka stressed “sustainability of investment is an area of mutual interest to both the investors and the government”. The event was followed by a field visit to the Eastern Industry Zone, a Chinese investment project which is the first industrial park in Ethiopia.