An Ethio-China Investment Cooperation Forum which commenced today (April 10, 2017) at Hinton Hotels in Addis Ababa brought together over 60 Ethiopian company representatives and more than 40 companies and representatives of businesses from China’s Hunan Province.
The forum was also attended by Aisha Mohammed, Minister of the Ministry of Construction, Dr Arkebe Equbay, Special Adviser to the Prime Minister with a ministerial portfolio, Dr Fitsum Arega, Commissioner of the Ethiopian Investment Commission, and Mr. La Yifan, Chinese Ambassador to Ethiopia.
The event saw the signing of four economic cooperation agreements: MoU on the establishment of an Ethio-Hunan Bilateral Economic Steering Committee, Joint Declaration of Collaboration among the Commerce Department of Hunan Province and Ethiopia’s Ministries of Industry and Education, UNIDO, an agreement on Establishment of Ethiopia-Hunan Industrial Park and MoU on cooperation between Ethiopian Insurance Corporation (EIC) and Chinese enterprises.
Commissioner Dr. Fitsum Arega briefed the gathering on Ethiopia’s huge investment opportunities and incentives, which he said would offer companies and investors a very strong competitive advantage.
Series of other presentations were also made by representatives of Chinese investments which are already operational in Ethiopia, including the Ethio-Hunan (Adama) Industrial Park, Changsha Overseas Investment CO. and Homes Industrial International Construction Co. Ltd to mention some.
Hunan Province has in recent years grown to become an important center for steel, machinery and electronics production. It has four economic and technological development zones: Changsha National Economic and Technology Development Zone; Changsha National New and Hi-Tech Industrial Development Zone; Chenzhou Export Processing Zone; Zhuzhou National New and Hi-Tech Industrial Development Zone, all home to giant global companies such as SANY Group, Foton and Zotye Vehicle Technologies.