ADDIS ABABA, Oct. 12 (Xinhua) -- Chinese investors are playing a crucial role in bolstering Ethiopia's economic development, injecting substantial capital, and creating jobs, according to the Ethiopian Investment Commission (EIC). In a statement issued late Friday, the EIC revealed that some 3,309 Chinese projects have invested more than 8.5 billion U.S. dollars in Ethiopia over the past years, significantly contributing to the nation's socioeconomic goals. The EIC highlighted that the growing presence of Chinese investors, both in terms of the number of projects and capital inflow, has brought much-needed vitality to Ethiopia's economic aspirations. These investments have generated over 325,400 permanent and temporary job opportunities for Ethiopians in recent years, according to the EIC. The Eastern Industrial Zone, built by Chinese private investors, is considered a model for Ethiopia's industrial park development, furthering its ambition to become Africa's light manufacturing hub.

Source: Ethiopian News October 12, 2024 17:15 UTC