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Chinese Investors Created 28,000 Jobs in Ethiopia

Jobs-created-by-Chinese-InvestorsJuly 22, 2017 - The number of jobs created by Chinese investors in Ethiopia has reached more than 28,000, according to Xinhau. According to the report, a total of 28,391 jobs were created by 279 Chinese companies in Ethiopia during the period of January 2012 to January 2017, of which 20,072 were permanent while the remaining 8,319 were temporary jobs. “Out of these jobs, over 19,000 were created in Ethiopia’s manufacturing sector as Ethiopia is leading its African peers by attracting companies from China both in numbers and financial capital, with a total number of 276 projects both under implementation and operation phase during the stated period,” Xinhua quoted Hailu Mekonnen, Ethiopian Investment Commission’s communication  director.   

The data from the Ethiopian Investment Commission further indicated that the 279 Chinese companies that were set operational during the reported period are additional to 100 other Chinese companies that are now currently under implementation in the country. The 279 Chinese companies have a registered financial capital of over 13.16 billion Ethiopian birr (over 572 million U.S. dollars), it was indicated.

Construction, service and agricultural sectors are the other sectors hosting a great number of Chinese companies in Ethiopia, Africa’s second most populous nation. According to recent data from Ethiopia’s Foreign Ministry, Chinese companies have invested around 4 billion U.S. dollars in Ethiopia during the last two decades, creating job opportunities for over 111,000 Ethiopians on permanent and temporary basis. China is also Ethiopia’s largest trading partner, in which the two countries’ trade reached 6.37 billion dollars in 2015, while growing on average 22.2 percent annually for the last several years.

Source: Xinhua


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