Ethiopia, besides Kenya and Tanzania, will develop into the flagship of China Africa Cooperation, said Chinese Official.
During a press conference held in Beijing, Ambassador Lin Songtian, Director-General of African Affairs with the Chinese Ministry of Foreign Affairs, said Chinese products can be easily obtained in Ethiopia in the near future without traveling to China as soon as Ethiopia becomes a special hub for Chinese products and technology.
Ethiopia had taken remarkable measures majorly on industrialization which can set a trend for China’s collaboration with Africa, Lin Songtian stated.
Chinese companies had invested USD 100 billion the year before in Europe and United States to buy resources, yet this kind of huge investment would not be consumed by these continents if Africa is prepared to attract them, the Director-General specified.
For African countries to attract huge amount of investment, they need to make sure safety guarantee for investment, possibility of profit maximization and create conducive working environment, he furthered.
Honoring Ethiopia’s devotion in the development of infrastructure in general and industry zones in particular, Songtian said Ethiopia had done creditable job in sufficing the two requirements that are setting legal guarantee for investment and streamlining the development of infrastructure.
Concerning investment guarantee, Chinese companies are facing difficulties in different countries due to a changing policy with the coming of new government, Songtian explained.
Nonetheless, Ethiopia had addressed the problem by ratifying a proclamation governing the administration of industry zones.
[2merkato]