Speaking exclusively to Xinhua, Mekonen Hailu, Communications Director at the EIC, said Chinese firms invest in various economic sectors in Ethiopia and are committed to long term investments. According to figures from the Ethiopian Investment Commission (EIC), Chinese companies have executed about 1,564 investment projects that are presently either operational or under implementation during the past two decades, from 1998 to March 2020. From the 1,564 Chinese investment projects in the nation, 987 of the projects are in operational phase, 186 are under the implementation phase, while the remaining 391 are in pre-implementation phase, it was noted. Figures from the EIC also showed that these projects registered an accumulative investment capital worth over 43.1 billion Ethiopian birr (over 1.153 billion U.S. dollars). Thus, many Chinese companies are currently investing in Ethiopia in various investment sectors, including in the manufacturing, service and agriculture sectors,” Mekonen told Xinhua.

Source: Ethiopian News October 17, 2020 17:03 UTC