Chinese diplomat calls for collaboration in exploring business opportunities in Ethiopia

Chinese Ambassador to Ethiopia, La Yifan, has called on foreign diplomats and business leaders in the country to work together to explore and exploit the business opportunities in the East African state.

Speaking later Tuesday at a dinner reception organized on the premises of the Chinese Embassy in Ethiopia's capital Addis Ababa, the Ambassador noted that diplomacy plays important role in helping investors conduct successful businesses in overseas markets.

The event has attracted foreign diplomats, foreign investors and business leaders in Ethiopia.

Reiterating that Ethiopia has been registering fast economic growth with success also in achieving the millennium development goals (MDGs), La emphasized on the need to have collaboration among diplomats and investors of different countries towards exploring and making use of the ample investment opportunities being created in the country.

Exemplifying his remarks, particularly with a Turkish textile factory in Ethiopia, which imports raw material from and exports its finished products to different countries, the Ambassador presented situations whereby countries could cooperate on foreign businesses in a single country.

He also stated that the Addis Ababa-Djibouti modern electrified railway being built by Chinese companies plays significant role in import and export of business goods for foreign investors operating in Ethiopia.

La has also stated that foreign investments create tremendous job opportunities for the local people while transferring technology and sharing expertise in the country.

As different countries could contribute to industrialization in Ethiopia, the Ambassador expressed China's keen interest to relocate industrial capacities to Ethiopia bringing technology as well as technical and managerial expertise in the industrial sector.

Stating that the country is hosting foreign investors from different parts of the world, Dewano Kedir, Ethiopia's State Minister of Foreign Affairs, hailed the contribution of foreign investments in Ethiopia to the growth and transformation being witnessed in the country.

Appreciating the informal event of the diplomats and investors for dialogue on investment climate and opportunity in Ethiopia, the State Minister noted that all should work together towards successful businesses and addressing challenges to avoid failures.

Dewano expressed his country's commitment to working closely with and providing the necessary support to foreign investors towards success of businesses, which he said is also the success of the country. Endi