Zhao Zhiyuan, the ambassador of China to Ethiopia, has called on Chinese investors to invest in Ethiopia’s lucrative manufacturing industry.
According to the ambassador, Ethiopia offers many opportunities for Chinese businessmen to enter the lucrative manufacturing industry.
Zhao noted that Ethiopia has enormous potential in all spheres, highlighting the industrial and agricultural sectors. He further emphasised that the manufacturing sector in particular is advantageous and lucrative for Chinese companies.
“Ethiopia has great potential in every area; in agriculture, in industry and in other areas,” Zhao said.
He says Ethiopia’s huge youth population has great potential for rewarding investment in manufacturing industries.
“Ethiopia is a great country with a huge population, especially with the very young people. This is your great potential,” he said, adding that improving policy and services towards industrialization are also crucial for investment in manufacturing.
“Industrialization is the path to modernization,” the ambassador underlined. “So in the manufacturing sector, I encourage more Chinese companies to come here to do more work with our Ethiopian friends. I think this is a great potential,” he said.
“The youth group is very important to the manufacturing sector and good service and policy are also very important to this sector.”
He mentioned that Chinese investors may work in Ethiopia on food processing, medicinal development, and agricultural production projects. He claims that overall Chinese investment in Ethiopia is occasionally rising.
“Now we are designing several very important projects with local governments and federal government ministries to promote and establish some special zones in the industrial parks,” the ambassador said.
The ambassador added that trade forms the cornerstone of economic ties between Ethiopia and China. The Chinese government is enacting measures to promote the entry of high-quality agricultural and industrial products from Ethiopia into Chinese markets to increase trade exchange.
He said that China has permitted hundreds of Ethiopian items entrance into its markets without paying any tariffs.
The envoy also emphasised the need for research into the best ways to export high-quality industrial and agricultural products.
“We should study the way how to make the high-quality Ethiopia’s agricultural and industrial products go to China.”
According to the ambassador, under the current leadership of the two nations, the political, economic, and people-to-people links are developing and increasing, and the relationship and ties in every area of cooperation will become better in the future.
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