Chinese investment in Africa contributing in the efforts of African countries towards industrialization and structural transformation, Special Advisor to the Prime Minister Arkebe Oqubay said.
Arkeb, who is also the author of ‘Made in Africa: Industrial Policy in Ethiopia’ said Chinese engagement in Africa is ‘highly’ important to enhance structural transformation.
He made the remark at a day long workshop held in Addis Ababa on Chinese Investment and Industrialization in Africa.
Chinese FDI flow to Africa is steadily growing and significant improvements have seen in trade exchange.
According to data, Chinese investment in the manufacturing sector in Africa is growing and its share has jumped to 20 percent in 2015 from 15 percent in 2011.
Chinese investment in Ethiopia has increased over the past two years. Some 1,000 of the total 5,000 investment projects in Ethiopia are Chinese, Arkebe said.
Chinese investors are interested to invest in Africa in general and Ethiopia in particular due to low production cost, stability, government support and growing size of domestic market.
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