Private investment from China to Ethiopia worth 269.4 million U.S. dollars from January 2 to December 1 this year has been commissioned, an Ethiopian official said on Tuesday.
Speaking exclusively to Xinhua, Mekonen Hailu, Communications Director at Ethiopia Investment Commission (EIC), said out of 109 Chinese projects during the 11-month period, 68 have become operational and the rest are in the final stages of implementation.
“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 (FDI) 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, while exhibiting an average growth of 22.2 percent in the last several years. Enditem