Addisu welcomes investment from Chinese firms
Addis Ababa, November 18 (WIC) - Addisu Legesse, a former Ethiopian vice-premier, said Ethiopia, as it is keen to develop its economy, likes to see more Chinese companies investing in the African country in order to transfer their advanced technologies and impart knowledge.
Addisu, a member of the executive committee and president of the Central Party School of the Ethiopian People's Revolutionary Democratic Front (EPRDF), reiterated that Ethiopia, as one of China's friendly developing countries, has shared a similar strategy in promoting economic development and improving people's livelihoods.
Leading a delegation to visit China's Tiesiju Civil Engineering Group Co Ltd (CTCE) in East China's Anhui province, he noted: "We'd like to see more powerful companies like CTCE in China investing in our country."
As China and Ethiopia are playing important roles in economic development, this to some degree is promoting Sino-Ethiopian ties, he added.
During the meeting, CTCE Board Chairman Zhang Hechuan briefed the guests on his company's current operations in Ethiopia. CTCE, according to Zhang, is a large State-owned construction enterprise with a history of more than 60 years and an annual turnover of over $7.4 billion. It is also a major subsidiary and a pilot company of the China Railway Engineering Corporation, a Fortune Global 500 company.
"With trust from both of our governments, CTCE was honored to be selected as the contractor for the China-aided rural school in Mekelle, which was one of 100 rural schools to be built in Africa by China," said Zhang.
He noted that the project, whose main structure was completed within just four months after the builders overcame a number of difficulties, "won praise from both the Ethiopian government and people, and is a new example of China-Ethiopia friendship".
Zhang also noted that another contract on the 97.5km-long Yebelo-Mega road, which was won last year, worth some $56 million, has led to a road being constructed since last September.
In recent years, CTCE has been a very keen player in the international market and has witnessed tremendous growth in overseas operations, Zhang said.
In Ethiopia, Nigeria, Tanzania, Switzerland, Ecuador, Nepal and a dozen other countries, the Group has completed or is undertaking more than 100 railway, highway, building and water-related projects.
Speaking of the importance of projects which improve people's livelihoods, Addisu noted that his government had made a series of policies focusing on basic structural change, such as telecom, roads, and railways.
"We plan to build 2,000 kilometers of railway and 10,000 kilometers of roads at the first stage of the project in the next five years, considering our infrastructure is still in an early stage," said Addisu.
Sino-Ethiopian ties have kept healthy and sustainable since diplomatic relations were established in 1970. There are many large cooperation projects between the two countries, including economy, culture, medicine, education and so on.
Addisu confirmed that the Ethipian government will support CTCE and other large companies in the progress of investing in his country, and the friendship between the two countries will continue. (China Daily)
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