Ethiopia is hoping to attract more sustainable investment from Chinese Enterprises as fruitful cooperation have been carried out under the Belt & Road Initiative (BRI).
At the China-Ethiopia High-Level Dialogue on Sustainable Investment held in Beijing on Friday, both Chinese and Ethiopian officials expressed their hope to consolidate collaborations to boost the achievements of sustainable development goals (SDGs).
Aschalew Tadesse Mecheso, Senior Official with Ethiopian Investment Commission (EIC), said Ethiopia looks forward to more investment in the sectors of information and communication technology and light industries so as to create more jobs for young people who account for around 70 percent of the country’s population.
Aiming to facilitate knowledge exchanges and build networks to promote sustainable investment in Ethiopia, the event attracted over 200 participants from governments, industries, development agencies and think tanks.
Guo Xuejun with the Ministry of Foreign Affairs took the Addis Ababa-Djibouti Railway as an example of the fruitful cooperation between the two countries under the BRI.
Apart from the railway that has significantly shortened the time of transporting goods from Ethiopia to Djibouti, he also mentioned a new economic cluster that is emerging along the railway with the construction and development of several industrial parks.
China looks forward to working with Ethiopia to initiate more connectivity projects that are high-quality, sustainable, resilient, affordable, inclusive, accessible and broadly beneficial, Guo said.
The country is also dedicated to promoting trade and investment liberalisation and facilitation, opposes protectionism and aims to make greater contributions to the implementation of the 2030 Agenda for Sustainable Development, he said.
Beate Trankmann, Resident Representative of the United Nations Development Programme (UNDP) in China, said the BRI’s key projects, which focus on connectivity and integration, could help unlock the funding and know-how to fulfil the SDGs, if relevant investments follow sustainability criteria and principles of the SDGs.
At the event, organised by the UNDP and supported by the Ministry of Foreign Affairs, China’s embassy in Ethiopia and the EIC, investors also discussed the opportunities and challenges to invest in Ethiopia.