Addis named best city to be invested by Chinese

Addis named best city to be invested by Chinese

November 16, 2007 (ADDIS ABABA) — The Ethiopian capital, Addis Ababa, is chosen one among “Best Cities to be Invested by Chinese Enterprises”, the official ENA reported.

Citing the Ethiopian Embassy in Beijing, the Ethiopian foreign ministry told ENA that the city won the entitlement given by China International Institute of Multinational Corporations.

Addis Ababa Caretaker Administration Major Berhane Deresse led a delegation to Beijing to receive the award to be given on November 17-18 at an “International CEO Roundtable for Chinese and Foreign Multinational Corporation”.

The Ministry said the number of Chinese enterprises investing in Ethiopia has been growing as of late owing to the favourable investment conditions in Ethiopia and enabling framework provided under the Sino-Africa Cooperation Forum, which encourages Chinese investors to look to Africa.

Meanwhile, Mayor Berhane on Friday held talks with Beijing deputy major on ways of enhancing the cooperation of the two sister cities.