Ethiopian President Mulatu Teshome received Chinese business delegation on May 12, according to Ethiopian News Agency.

The delegations are representatives of companies in the manufacturing sector. Considering Ethiopia’s Vision to become a hub for industry in the continent, President Mulatu called on Chinese companies to invest in Ethiopia in the manufacturing sector.

The president briefed the delegates the benefits they secure in investing Ethiopia such as abundant labor and cheap electricity.

Companies from the delegation promised to construct an industrial park on 500 hectares of land with USD 500 million.

Fourteen companies involved in energy, mining and infrastructure development, among others comprise the delegation.

Source: Ethiopian News Agency