Image: EIC

The high-level business forum "Invest Ethiopia 2025" concluded in Addis Ababa on May 13, having secured five major investment commitments totaling over 1.6 billion USD. Chinese enterprises contributed significantly to this total, with photovoltaic projects exceeding  600 million USD in combined investment. 

Canadian Solar Inc. will invest 250 million USD to establish a manufacturing facility for solar modules and energy storage systems.

Hanergy New Energy Technology Co., Ltd. will partner with Jandu Corporation to develop a  360 million USD photovoltaic cell manufacturing plant.

Hainan Drinda New Energy Technology Co., Ltd. is advancing plans for a PV cell production facility, though specific parameters remain undisclosed.

Official data shows Ethiopia attracted 3.92 billion U.S. dollars worth of FDI last Ethiopian fiscal year ending on July 7, 2024, and China has accounted for almost 50 percent of all FDI inflow into the country.

According to the EIC, more than 8.5 billion U.S. dollars, involving over 3,300 Chinese projects, has been invested in Ethiopia in recent years, creating more than 325,400 permanent and temporary jobs for Ethiopians.