Go to ...
RSS Feed

June 23, 2017

Chinese investment in Ethiopia topped off $4 billion


Is Chinese Investment benefiting Ethiopia?

June 2,2017
borkena, Ethiopian News

According to Xinhua, Chinese investment in Ethiopia topped off 4 billion U.S. dollars. The news source cited Meles Alem,Spokesperson of Ethiopia’s Foreign Ministry, to report that over 111,000 Ethiopians are employed as wage earners and as skilled man power.

China’s investment in Ethiopia started about twenty years ago.

While the ruling party is securing huge sum of loans for infrastructure development in Ethiopia, most of these projects are under Chinese firms in areas including road construction and railway construction. However, Chinese investors are also engaged in the manufacturing sector.

There has been accusation against Chinese investors related to abuse of workers in addition to underpaying them and government in Ethiopia is also criticized for not protecting the rights of Ethiopia.

(Video : Ethiopians working for Chinese firms. Source: Social Media)

What is clear is that Chinese investors have created a culturally Chinese labor relations in Ethiopian soil and the relation seem to be exploitative features(economic and cultural).

China has also become Ethiopia’s largest trading partner with volume of trade estimated to be over $6.3 billion.

In addition to Chinese, Turkey and countries in the Middle East have billions of dollars of investment in manufacturing, agriculture and real estate development,among other things, in Ethiopia.




___
Join the conversation. Like borkena on Facebook and get Ethiopian News updates regularly. As well, you may get Ethiopia News by following us on twitter @zborkena

The post Chinese investment in Ethiopia topped off $4 billion appeared first on Borkena Ethiopian News.

Powered by WPeMatico

More Stories From Uncategorized

Enjoy this blog? Please spread the word :)

%d bloggers like this: