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Xinhua | Updated:2017-09-20 08:43ADDIS ABABA – Private investment from China to Ethiopia in 2017, up to September 5, has reached more than $680 million, outpacing full 2016 figures.Speaking to Xinhua on Tuesday, Mekonen Hailu, Ethiopia Investment Communications (EIC) Director said Ethiopia attracted close to $560 million in registered investment capital from private Chinese firms in 2016.He further said private Chinese firms investment is the single largest foreign direct investment (FDI) source to Ethiopia in 2017 with investment from Indian and Dutch firms following in second and third positions.Private Investment from China also was the single largest FDI source for Ethiopia in 2016, topping private investment from the likes of Turkey and India.The majority of the investment from Chinese firms is in the manufacturing sector, taking 67.1 percent of registered capital, with the rest being from various sectors including real estate, construction, mining and health.”Ethiopian government is providing tremendous incentive to private investors including availability of cheap electricity and water utilities and affordable, abundant, trainable, young labor force,” said Hailu.China is already Ethiopias largest trading partner, with trade volume between the two nations reaching $6.15 billion in 2015, while exhibiting an average growth of 22.2 percent in the last several years.Related StoriesAfrican countries hope to attract more Chinese investmentChinese company awards top local employees in EthiopiaEthiopia aims to have strategic cooperation with China on aviation sector: MinisterChinese companies top player in Ethiopias investment landscape: OfficialEthiopia to inaugurate 2 Chinese built industrial parksPhotoConcept cars grab spotlight at Frankfurt Motor Show 2017African women sell crystal earning $460 a dayApple launches $999 iPhone X in bid to regain innovation leadFrom revolution to evolution: Revisiting the past 10 years of iPhoneAlibaba holds glitzy 18th birthday party in HangzhouChongqing 24-hour restaurant earns family four housesMost Viewed in 24 HoursState Council NewsState Council hears report on national inspection and third-party assessment More efforts against money launderingTop 10Worlds top 10 airlines by comprehensive competitivenessEditors picksGree denies rumors of seeking stake in automaker FAW XialiAustralian businesses confident about Chinese economy in next five yearsChina DataTimeline of policy supports for the rental home marketQ&A With CEOServing in the name of progressBehind an advertising visionSpecial2017 Summer DavosChinas Q1 economic dataBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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