China Helping To Make Ethiopia The Center Of Africa’s Industrialization

China Helping To Make Ethiopia The Center Of Africa’s Industrialization
Global manufacturing is slowly moving from Asia to Africa

AFRICANGLOBE – Chinese Ambassador to Ethiopia, La Yefan indicated, china is working towards bringing Ethiopia into the center stage of Africa’s industrialization.

The Ambassador added “china will do all it can to expand the manufacturing industry Ethiopia planned to undertake in the period of the 2nd growth and transformation plan”.

In the face of reduced labor market, and to improve market competitiveness, Chinese companies, outsourced and made their products accessible to international markets.

Lately, the companies made Africa their preferred investment destination and Ethiopia, in particular, their essential investment partner, for it provided important investment options and inputs.

“Hence, the two countries worked towards facilitating deal” said the Ambassador.

The 1st growth and transformation plan laid the foundation to renovate agriculture-led Ethiopia’s economy to industrial economy.

China will render support to this 2nd growth and transformation plan which pursued the first.

Currently, over 400 Chinese Companies and enterprises operate in Ethiopia.

The bilateral trade and investment between the two countries surpassed 5 billion dollars.

China is now the major trade and investment partner of Ethiopia.