ADDIS ABABA, March 27 (Xinhua) -- Ethiopia's flagship investment forum, dubbed "Invest in Ethiopia," concluded on Friday with the signing of investment agreements worth over 13 billion U.S. dollars.
The fourth edition of the forum was held under the theme "Ethiopia: Ready for Business" in Addis Ababa, the country's capital, attracting hundreds of investors, business leaders, and advisors from across the globe, according to the organizers.
Addressing the closing session, Ethiopia's Minister of Finance Ahmed Shide said that the forum reflects Ethiopia's shift towards targeted investment attraction, robust regulatory reforms, and a more integrated approach to facilitating investments that drive exports, create jobs, and advance economic transformation.
The signing of seven investment deals, covering mining, manufacturing, real estate, renewable energy, and other sectors with investors from China, Kenya, India, and Poland, among others, showcases Ethiopia's achievements as a new investment frontier of Africa, according to the finance minister.
The Ethiopian Investment Commission said the forum, serving as a key platform for forging partnerships and expanding investment opportunities, reinforces the country's growing reputation as a competitive and attractive investment destination.
It noted that the newly secured investments are expected to play a critical role in job creation, foreign exchange generation, and technology transfer, further strengthening Ethiopia's economic transformation agenda.
Amid the expanding China-Ethiopia partnership in investment and other sectors, Chinese enterprises accounted for the largest share of investment deals signed on the margins of the two-day forum.
Chinese Ambassador to Ethiopia Chen Hai said on the occasion that Chinese enterprises have actively participated and reached a number of agreements with the Ethiopian side during the forum.
Highlighting that China and Ethiopia enjoy an all-weather strategic partnership, he said China has been the East African country's largest trading partner and source of foreign direct investment for many consecutive years.
Chen emphasized that Chinese enterprises have deeply engaged in and made positive contributions to various sectors in Ethiopia, including industry and agriculture, infrastructure, transportation, energy, telecommunications, and the digital and smart industries, continuously supporting Ethiopia's industrialization and modernization drive.
"China will actively assist Ethiopia in fully leveraging the policy dividends of the already implemented zero-tariff treatment for 100 percent tariff lines, further unlock trade and investment potential, and upgrade China-Ethiopia economic and trade cooperation," he said.
The annual high-level business forum, organized by the Ethiopian government and its development partners, aimed at positioning the country as a leading investment hub in Africa and beyond.
