Chinese firms invest 4 bln USD in Ethiopia in 2 decades

Chinese firms invest 4 bln USD in Ethiopia in 2 decades

Chinese firms
A train runs on the Ethiopia-Djibouti railway during an operational test near Addis Ababa, Ethiopia, on Oct. 3, 2016. Africa’s first modern electrified railway — the Ethiopia-Djibouti railway built by Chinese firms, is set to become fully operational on Wednesday. (Xinhua/Li Baishun)

ADDIS ABABA, June 3 (Xinhua) — Chinese companies have invested around 4 billion U.S. dollars during the last two decades in Ethiopia, employing 111,000 Ethiopians on permanent and temporary basis.

The statement was made on Thursday by Meles Alem, Spokesperson of Ethiopia’s Foreign Ministry, citing Ethiopian and China’s deep political and economic relationship.

“In addition to those already in Ethiopia, last month Prime Minister Hailemariam Desalegn had sat down with officials from 17 big Chinese companies requesting their investment in Ethiopia,” he said.

The prime minister, who attended and spoke at the Belt and Road Forum for International Cooperation held from May 14-15 in Beijing, visited several Chinese provinces and signed a 250-million-dollar loan agreement for an industrial park.

Desalegn also formally signed Ethiopia’s membership to the Asian Infrastructure Investment Bank (AIIB), making the Horn of Africa nation the 77th member.

“Ethiopia hopes with membership in AIIB to facilitate loans for various planned infrastructure projects,” Alem said.

China is Ethiopia’s largest trading partner with in 2015, the two countries trade relation reaching 6.37 billion dollars, while growing at an average 22.2 percent annually for the last several years.

1 Comment

  1. TPLFites would rather have Ethiopians slave themselves in Chinese sweatshops than to see Ethiopians liberate themselves . In Ethiopia a country where workers are treated as slaves, Chinese businesses would see this an opportunity to get cheap labor , great natural resource and most importantly buy future generations when the TPLFites run with the money TPLFites steal from the borrowed money. The recent protests that lasted for years with TPLF continuing to seize power has proved to Chinese businesses/banks that TPLF is in power and Ethiopians are unable to liberate themselves by overthrowing the TPLFites slave masters . Currently more than 10 million Ethiopians do hard labor jobs allday just to be ABLE TO get food aid to feed themselves and their families. They get paid with food.

    Basically TPLF knows that TPLFites are getting very fewer and fewer in numbers while recently more than 85% Ethiopians are being inclined towards liberation from TPLF at any cost.

    To compensate the TPLF’s lack of numbers the TPLFites are recruiting TPLFite type cadres from China to come to Ethiopia with the Chineese being the new slave mangers/cabos while ofcourse TPLF remains the main slave masters.

    TPLF will sell Ethiopians to anyone just to continue the master slave relationship between TPLFites and Ethiopians regardless who the slave cabo is whether it is China,India,European,Nigerian, Arab just you name it as long TPLF is the master TPLF will sell Ethiopians to anyone under the sun. Mind you if TPLF sells our women to domestic work in harsh conditions in middle east what other proof do you need that these women must be facing worse conditions in their own country be it in the hands of foreigners or TPLFites themselves. .

    China need to be kicked out from the TPLF led government and their businesses since DEBT BONDAGE is the worst type of slavery of the 21st century. We Ethiopians will have to learn from India’s Debt bondage – In India, “the largest democracy in the world,” the only thing the desperately poor can pledge to borrow money to pay for major expenses like funerals is “themselves. As a result you have children working off the debts of their parents, often at ludicrously high interest rates. They are shackled to looms weaving carpets,” When TPLF fails the debt to Asian Infrastructure Investment Bank (AIIB) as they always do , Poor Ethiopians are going to be shackled in Chinese sweatshops .What other collateral does Ethiopia have?

    Harriet Tubman said: “I freed a thousand slaves. I could have freed a thousand more if only they knew they were slaves.”

    Harriet Tubman (born Araminta Ross; c. 1822 – March 10, 1913 was an American abolitionist, humanitarian, and an armed scout and spy for the United States Army during the American Civil War. Born into slavery, Tubman escaped and subsequently made some thirteen missions to rescue approximately seventy enslaved families and friends,using the network of antislavery activists and safe houses known as the Underground Railroad. She later helped abolitionist John Brown recruit men for his raid on Harpers Ferry, and in the post-war era was an active participant in the struggle for women’s suffrage.

Comments are closed.