Turkey pours $1.2bn worth investment into Ethiopia surpassing China

Turkish investors although has arrived later for development assistance to Ethiopia then China, but have managed to pour some $1.2 billion worth of investment into Ethiopia surpassing investment done by China.

China, the Asian giant’s investment in the African state lack volume, despite China’s outstanding record of development assistance to Ethiopia, it has invested only $836 million over the past ten years, Debela Habte, a senior public relations expert said.

Turks invest their money in large-scale projects, while the Chinese are more involved in both small- and large-scale projects. Turkish investors are largely engaged in the textile industry, which requires significant capital due to this, Turkey’s investment capital in Ethiopia has surpassed that of China.

Nevertheless, Habte said that China has managed to retain its leading position in terms of investment -related job creation. Chinese companies have managed to generate over 75,500 jobs [in Ethiopia] while Turkish companies have generated only 20,900 jobs.

Habte said that 296 Chinese projects – out of a total of 437 Chinese projects in the country – are located in the capital, while 55 out of 100 Turkish projects are located in Addis Ababa.

Both the Turks and Chinese tended to focus their respective investment projects in capital Addis Ababa.