Chinese shoe factories told Prime Minister Meles Zenawi on Friday that they were interested in investing in Ethiopia. Zan Guha Rang, president of Hu Han Zangur, a shoe factory producing 15 million pairs of shoes a year, said, that it was looking for markets in Africa, particularly in Ethiopia.

The Prime Minister, during his five-day visit to china, assured the Chinese investors that Ethiopia would support prospective Chinese investors. Representatives of various Chinese companies spoke with the Prime Minister about their intentions to invest in Ethiopia.

New Gmy Company, which has already started building its six million dollar shoe factory , plans to manufacture 1 million pair of shoes a year and also to raise this to 5-6 million in three years time.

Prime Minister Meles said that Ethiopia would support the investors as the country has been supporting the development of the leather and leather products industry.

Source: Ethiopian Press Agency