Ethiopia conducted a business seminar for a business delegation from the Guangdong Province of China at the Addis Ababa Hilton Hotel.
The Ethiopian government has created a conducive investment environment for foreign investors said Seyoum Mesfin, Ethiopian Ambassador to China at the seminar held yesterday. The government encourages Chinese investors to engage in joint ventures with local businesses to promote technology transfer he noted.
A business seminar like the one conducted yesterday is expected to strengthen the long standing relationships between China and Ethiopia noted Birhane Gebrekirstos, State Minister for Foreign Affairs.
Ethiopia welcomes foreign investment to achieve the objectives of the development program that it has enacted he added.Chinese investment in Ethiopia is growing significantly with 938 business licenses to projects initiated by Chinese investors since 1998 totaling a registered capital of 2.4 billion birr said Mulu Solomon President of the Ethiopian Chamber of Commerce and Sectoral Associations.
Chinese investment projects have afforded employment opportunities to an estimated 67 thousand permanent employees and 79 thousand part time workers she said.
China is not seeking short term profits from Ethiopian investments but rather long term relationship and vision said Xie Xiaoyan, Chinese Ambassador to Ethiopia.
In related news a Memorandum of Understanding was signed between the Ethiopian chamber and the Department of Foreign Trade and Economic Cooperation for Gunagdong Province at the same time.
A similar agreement was signed between the Addis Ababa Chamber of Commerce and Sectoral Associations and the Bureau of Foreign Trade and Economic Cooperation Guangzhou Municipality.
Source: Daily Monitor
