China-Africa:Ethiopia draws increased Chinese investment
Ethiopia is attracting growing amounts of Chinese investment, which could see it play a bigger role in regional and international trade.
A Chinese company has started building Ethiopia’s first industrial trade zone, aiming to bring around 80 companies to the park. They will include electronic goods companies, machinery and building material makers and textile and apparel producers.
The China-Africa Development Fund has also agreed to invest in a cement plant in Ethiopia, the fund’s second project there. The US$60 million plant has a targeted output of 500,000 tons per year, surpassing domestic demand. It is expected to export to the East African region.
Ethiopia is enthusiastically courting Chinese investors. Ethiopia is attractive to Chinese companies because of its low labour costs and perceived stability.
(bdafrica)