Private Chinese investment hits 269 mln USD in Ethiopia in 2017 – Xinhua

Photo taken on July 13, 2016 shows the Hawassa Industrial Park in twon, 275 kilometres south of Addis Ababa, Ethiopia. The Hawassa Industrial Park, the largest specialized apparel and textile park in Africa, constructed at a cost of 250 million USD was officially inaugurated here on Wednesday. The industrial park was constructed by China Civil Engineering Construction Corporation (CCECC) within nine months. (Xinhua/Michael Tewelde)

ADDIS ABABA, Dec. 21 (Xinhua) — Private Chinese investment to Ethiopia worth 269.4 million U.S. dollars has been commissioned since the start of 2017, an Ethiopian official said on Wednesday.

Mekonen Hailu, Communications Director at Ethiopia Investment Commission, said 68 Chinese projects became operational and 41 entered final implementation phase in the first 11 months of the year.

“The biggest number of Chinese investment to Ethiopia has been in the manufacturing sector, followed by construction, real estate, consultancy and other sectors,” he added.

He further said private Chinese firms’ investment is the single largest foreign direct investment source to Ethiopia in 2017 with investment from Indian and Dutch firms following in second and third positions.

China is already Ethiopia’s largest trading partner, with trade volume between the two nations reaching 6 billion dollars in 2015.

Read More News Here Source link

See Also:  Turkey's lira turmoil could herald a global financial crisis | Business & Economy

Recommended For You

Leave a Reply

Your email address will not be published.