Possibility of more Chinese Foreign Direct Investment in Ethiopia’s pharma sector

Ethiopia is looking forward to attracting more Foreign Direct Investment from Chinese firms engaged in the pharmaceutical sector.

Ethiopia wants to assist the Chinese firms to engage either in joint venture or full-scale investment in the pharmaceutical sector in the country, according to Head of economic affairs desk at Ethiopia Ministry of Foreign Affairs, Dewano Kedir, as reported by Ethiopianreporter.com.

Dewano Kedir pledged to assist prospective Chinese firms to overcome any hurdles they may encounter during their activities to invest in the Ethiopian pharmaceutical sector. He was speaking in the Ethiopian capital, Addis Ababa while holding discussions with around 40 companies that came from the central Chinese province of Henan.

"Ethiopia's 100 million strong population needs to get a reliable supply of medical products. Chinese firms can help Ethiopia's fledgling pharmaceutical sector by investing in the sector as well as contributing generally to Ethiopia's export-driven industrialization program" Kedir further added.

The Ethiopia Investment Commission recently disclosed that Ethiopia's Chinese-built Kilinto Industrial Park has enhanced the country's ambition to lure experienced international pharmaceutical companies across the globe.

Ethiopia Investment Commission revealed that it has signed investment agreements with 10 international companies that have ‘shown great interest’ to set up their industrial plants inside the premises of Kilinto Industrial Park. According to the Ethiopian government, the Kilinto Industrial Park is on the verge of completion, and once completed it will host more than 1,000 pharmaceutical companies, Xinhua noted.

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