With a young population, Ethiopia is banking on overseas investment in industrial parks to create jobs and produce a stable and thriving economy.
By He Wei (China Daily)
SHANGHAI, China–China is a source of inspiration as Ethiopia modernizes its economy.
Arkebe Oqubay, special adviser to the Prime Minister of Ethiopia, Hailemariam Desalegn, said he believes the Belt and Road Initiative will bring further tangible benefits to the East African nation through enhanced trade and investment.
Building industrial parks and the Ethiopia-Djibouti railway are among the latest examples of how China’s businesses in the country can drive economic development and boost employment.
“China has long been focusing on fighting poverty,” said Arkebe on the sidelines of the Shanghai Forum, an annual international symposium on Asian and world affairs, at the weekend.
“It has successfully lifted hundreds of millions of people out of poverty. It also specializes in manufacturing－creating millions of jobs. So it has been a source of inspiration for us.”
Arkebe pointed out that Ethiopia was not only a participant but a pioneer in the Belt and Road Initiative.
He felt the program of rapid development can help transform his country from a low-income agricultural-based economy into a medium-income, export-oriented one by 2030.
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“The Belt Road Initiative creates a win-win situation for China and Africa,” said Arkebe. “The underlying values and principles include nonintervention in internal affairs, mutual benefits and peaceful coexistence, which are all similar to those of the United Nations Charter.”
With a young population, Ethiopia is banking on overseas investment in industrial parks to create jobs and produce a stable and thriving economy.
Chinese companies are major investors in the country and during the past 15 years have financed 20 percent of all manufacturing-related projects.
Read the complete story at China Daily
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See also:
- Ethiopia Opens $3.61 Billion Gap on Kenya’s Economy
- Stepping Up Efforts of Making Ethiopia an Investment Hub
- Chinese Companies Flourishing in Ethiopia’s Eastern Industry Zone
- The Role of Integrated Agro-industrial Parks in Ethiopia’s Development
- How Ethiopia’s Nascent Apparel Industry Can Build a Strong, Empowered Workforce