As Ethiopia strives to become the manufacturing hub of Africa, more and more Chinese companies are showing an interest in investing in the east African country.
The latest Chinese company that will soon establish a presence in Ethiopia is the Wuxi No. 1 Cotton Mill, which is part of the Guolian Development Group and one of the largest textile manufacturers in China, according to the Ethiopian Investment Commission (EIC).
The company has signed an investment agreement with the Ethiopian government to establish an integrated textile industry in Ethiopia’s second largest city Dire Dawa, some 446 km east of Ethiopia’s capital Addis Ababa.
According to the EIC, Chinese companies, with close to 379 projects that were either operational or under implementation in 2012-2017 period, are on top of Ethiopia’s investment landscape, both in number and financial capital.