Ethiopia: Over $8.5 billion of Chinese investment boosts economy

  • General
  • October 23, 2024
  • 0 Comments

Chinese investors have poured over $8.5 billion into Ethiopia, creating thousands

of jobs, according to the Ethiopian Investment Commission (EIC). With 3,309 projects

led by Chinese companies, the country’s infrastructure and industry have seen

significant development. In 2023/2024, Ethiopia saw a 14% increase in

foreign direct investment, reaching $3.9 billion, supported by the increased involvement of

Chinese investors.

Source: Africa News Agency

  • Related Posts

    Uganda: $3 billion railway construction deal with Turkish company Yapi

    The Ugandan government has signed a $3 billion contract with Turkey’s Yapi to build the 272-km Malaba-Kampala railway line. Work is expected to begin next month and take 48 months to complete. After China withdrew from the project, Uganda is adopting…

    BRICS: Ramaphosa calls for massive investments in Africa

    South African President Cyril Ramaphosa has urged the BRICS to invest ‘massively’ in Africa’s infrastructure and youth skills, noting that the continent’s free trade agreement ‘unlocks massive opportunities.’ Speaking at…