President Dr. Mulatu Teshome called on Chinese companies to invest in Ethiopia in the manufacturing sector and thereby contribute to the country’s vision of becoming industrial hub in the continent.
While receiving a business delegation consisting representatives of companies in the manufacturing sector here yesterday, the President said the participation of Chinese companies is important to realize this vision.
The President briefed the delegation that companies will be profitable if they invest in the manufacturing sector, which is the priority of the country.
Companies will benefit from the overall development of the country, stability, abundant labour and cheap electricity, he said.
Ethiopia also serves as a bridge to other African countries to supply product to market destinations in the continent, he added.
The companies included in the delegation pledged to construct industrial park on 500 hectares land with 500 million USD.
Leader of the delegation Lyu Xinhua said South-South Cooperation Council was established to promote cooperation between China and Africa thereby encourage companies to invest in Ethiopia.
Fourteen companies engaged in energy, mining and infrastructure development, among others are included in the delegation.