Few large Chinese companies, including textile and garment manufacturing industries, have decided to invest in Ethiopia in the first half of the current Ethiopian budget year. The investment has come after the Ethiopian Investment Commission (EIC) started according priority to large, effective companies that can offer more and quick employment. Following the new strategy, Ethiopia has managed to attract investment from ten large Chinese companies, according to EIC commissioner Fitsum Arega. About half of these are in textile and apparel manufacturing, and this includes Jiangsu Sunshine Group, which has decided to invest nearly $1 billion in Ethiopia. The decision by the Chinese companies to invest in Ethiopia clearly shows that the East African nation has continued to become a favourable investment destination, Arega told Ethiopian news agency.

Source: Ethiopian News February 13, 2017 11:03 UTC