Ethiopia is keen to lure more investment from China, particularly in the export and manufacturing sector, a senior Ethiopian official said Thursday.
During a press briefing on the 2014/15 fiscal year, Abraham Tekeste, Minister of Finance and Economic Development, told Xinhua Chinese direct investment has played an important role in the country's development.
Direct investment from China in the manufacturing and export sector would be an important element to support the country's plan to diversify its economy, Tekeste said.
He said Ethiopia would further strengthen its cooperation with China by attracting more Chinese investment while it has been improving business environment for Chinese and other foreign investors.
"We (China and Ethiopia) have good relationship in terms of trade and direct investment... There are companies already investing in Ethiopia, and we would like to see more of that," he said, adding he believed economic cooperation between the two would grow further.
The minister also noted loans provided by China would be used for the improvement of Ethiopia's "productive capacity". "We are very clear and China is also very clear that all the money we borrow goes to enhancing the productive capacity of Ethiopia, manly in infrastructure and energy. We have a flagship project financed by Chinese loan," he said.
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