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Monday, May 02, 2005

Chinese Firms Receive Investment Licenses in Ethiopia

About 70 Chinese enterprises have so far received licenses to invest in Ethiopia thanks to the country's efforts to attract Chinese investments, Ethiopia's Investment Commission said Monday.

The commission said in a press release that 18 of the enterprises, engaged in pharmaceuticals, infrastructure, iron, restaurant and other manufacturing sectors, had already entered into production phase. Some 17 licensed enterprises involved in service provision, electricity, textile, mines and other relevant sectors, were in the construction phase, it said.

According to the commission, the remaining entrepreneurs were undertaking research that would enable them to engage in various investment sectors. The Chinese government was providing various incentives to Chinese entrepreneurs to invest in African countries, it said.

xinhuanet.com

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