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Chinese Company to open a $67 million leather factory in Ethiopia

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11/02/10

Permalink 01:43:31 am, by nazret.com, 150 words   English (US) latin1
Categories: Business, Ethiopia

Chinese Company to open a $67 million leather factory in Ethiopia

Chinese Company to open a $67 million leather factory in Ethiopia

China's Xinxiang Kuroda Mingliang Leather Co is set to open a $67 million leather factory in Ethiopia on November 24, Bloomberg news reports quoting a statement from Chinese embassy in Ethiopia.

The company financed 55% of the project while the remainder coming from the China-Africa Development Fund. the report said.

Ethiopia is increasingly looking towards China for development partnerships as the country has become one of the major investors in Ethiopia. China's ZTE Corp. lent $1.5 billion in 2008 for Ethiopian Telecommunication Corp. to upgrade its infrastructure, while other companies have helped build hydroelectric plants, the ring-road around Addis Ababa and the part-completed African Union Conference Center.

“Ethiopia is the best example to refute some of the criticism of China being in Africa only for resources,” Chinese ambassador to Ethiopia was quoted as saying. “It has got nothing, but we are coming to their needs.”

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30 comments

Comment from: BERHAN [Visitor]
***--
“It has got nothing, but we are coming to their needs.”

WOW!! And some blame Al Amoudi for nothing.
11/02/10 @ 02:12
Comment from: Wollo [Visitor]
Oh this is not good. Another balame will come from Human Rights Watch as EPRDF keeps strengthening its relation with China. Believe me HRW will be so annoyed and will figure out something to blackmail Ethiopia.
11/02/10 @ 02:17
Comment from: c´moi senait [Visitor]
It is GOOD. ONLY beggers who oppose the deal. We need more chines and far easterns campany and NOT OXFAM,USAID or those beggers charity.
11/02/10 @ 04:57
Comment from: Banda Geday IV [Visitor]
***--
I am for The Chinese, let them come to Ethiopia (I am not talking about Africa as a whole)and do buisness.

That said, they (i.e. Chinese ambassador to Ethiopia) got to stop lying: “It has got nothing, but we are coming to their needs.”
11/02/10 @ 05:10
Comment from: jemal the camel [Visitor]
keep up mama ethiopia you have a bright future just infront of you,what all your enemy have barked,what your bud thinkers are dreamed,let them forget but you simply forward. vivas ethiopia and ethiopian, viva china and chainis.
11/02/10 @ 06:45
Comment from: MAMO [Visitor]
wow long live ethiopia
11/02/10 @ 06:46
Comment from: Videoer [Visitor]
While the diaspora community is whining about Woyane, the Chinese and the Indians are taking over Ethiopia.

Hello my fellow diaspora: Go fight Woyane or invest in Ethiopia....talk is cheap!
11/02/10 @ 07:42
Comment from: chala [Visitor]
let the talkers talk and the makers make.
the best say of the day.
11/02/10 @ 08:50
Comment from: legesse [Visitor]
That is the end of Ethiopain endogenous leather industry.
The Chinese will kill it and will monopolize the industry;will hire Chinese laborers and export made in Ethiopia to the US/EU but will take the profit back.
How does this help Ethiopia?
Leather industry is one of the areas the endogenous industry is doing well,why not help them than kill them?
11/02/10 @ 11:14
Comment from: D [Visitor]
Chinese are dying to copy America and we are dying to copy China. But the man landed in the moon isn't Chinese! Although it is not perfect American system achieved in less than 200 years what is impossible for Chinese in 5000 years! !!
11/02/10 @ 11:25
Comment from: Kena Keb [Visitor]
Tamagn Beyene will soon lead another demonstration outside the Chineese Embassy to burn the Chineese flag while Alemayehu G/Mariam is dusting his computer for next Sunday's article condemning China's presence in Ethiopia.

Ethiopia shall prosper!!
11/02/10 @ 11:36
Comment from: abdishaable [Visitor]
you are right Wollo another balame will come from Human Rights Watch as EPRDF keeps strengthening its relation with China. George SOROS will be so annoyed and will order his 'NGO' HRW to figure out something to blackmail Ethiopia.
11/02/10 @ 11:37
Comment from: Arsi [Visitor]
We, the lazy a$$ habeshas need to learn hard work from the Chinese. Most habeshas spend 8hrs to complete a 2hrs task. The Chinese can teach us... Let them come. The West don't want Africa to develop and become self sufficient. The Chinese have contributed so much in helping develop Africa in past 10 years than what the West have done in the past 100 years.
11/02/10 @ 11:48
Comment from: ankober [Visitor]
*****
let hundreds of factories flourish.
11/02/10 @ 12:21
Comment from: gud new [Visitor]
Arsi, very smart assessment. Here in the U.S. I know habeshas that chew chat all day and work security guard at night for 3 days and complain. In U.S.A where Mexicans have 3 to 4 full time job. Not the old generation they work hard, it is the new generation that are lazy. All they want to do is chew chat and watch T.V. so I say let them come and invest. If we can’t do it let someone else do it. land yezo kuche malete mend new tikmu. Until we change our ways of being lazy let whoever who is willing to work invest. Diaspora yezorebet hizb new including me. Since we are not prospering we do not want anyone to prosper and be better than us, hence the reason we complain. Alebela ena ayeblew mentality we have is killing us. Food for thought. We in general don’t like to see people succeed and if they do we say hodam…very funny. Al and his followers (dummy disciples) the reason they complain and call investors hodam is funny to me. How are they hodam when they work hard to better their life.
11/02/10 @ 15:13
Comment from: D,BARRY [Visitor] Email
****-
China& ethiopia Keep itup the good news,good Jobs.God bless the two nation!!!!!
11/02/10 @ 15:57
Comment from: mershiti [Visitor]
it has got nothing ..really?
11/02/10 @ 16:09
Comment from: Againt EPRDF [Visitor]
When are we going to hear about Ethiopians opening a factory, business or industries. All we hear is how the Chinese, Arabs, and foreign parasites are buying farm land or opening business so EPRDF is making money.

Where is the leadership of Meles helping and promoting Ethiopians to become successful people?

When is he going to stand for Ethiopia and Ethiopians?

For how long Ethiopians are going to lie dormant while the country is being robbed and destroyed?
11/02/10 @ 18:22
Comment from: open your eyes [Visitor]
can't u see the U.S sends there companies to china for cheap labor and china is sending the factories to Ethiopia for cheaper labor..What is wrong with this picture is it just me or something smells...open your eyes
11/02/10 @ 19:46
Comment from: YrgaChefee [Visitor]
Againt EPRDF [Visitor]

The Ethiopian owned factory is called 'Habesha Ceminto Halfinetu Yetewesene'! You can buy a stock and become an owner---anybody can for that matter.

Oh yea and one more thing. Stop pretending to be an opposition member.
11/02/10 @ 20:58
Comment from: john john [Visitor]
Good job i always admire Chinness when it come to buissnes they don't come with bundle garbbage such humman right crap democracy and election unlike the Wests.
11/02/10 @ 23:55
Comment from: EX-Visitor [Visitor]
8 Factory from China for Ingera.
2 factory for Tejje
24 factory for kittfo
100 factory for cahhat to ggo
is this what we need ,so keep your mounth and go back home to work. We need investers.
11/03/10 @ 02:09
Comment from: Next call [Visitor]
The Chinese Ambassador sees the glass half full for all indications are there is great potential in Ethiopia. The Chinese have been a blessing for Ethiopia and I don't want to diminish the enormous investment made by them in the country. However, the comment of the distinguished diplomat needs modification for it isn't as if Ethiopia has nothing, it is that most of its potential is not yet utilized. Massive potash deposits which is important in agriculture has been discovered in the Afar region. According to the Wall Street Journal, the Chinese are keen to invest in this strategic mineral. Nyota and Stratex are on the verge of extracting massive gold deposits. We got untapped coal deposits in the West of the country near Bedele. Tantalium a major component of electronics is mined in Ethiopia. There are enormous geothermal and hydroelectric potential in the Nation, which can be privatized to benefit our Chinese friends. Furthermore, Ethiopia, being the water tower of Africa do possess enormous water reserves which will be more expensive than oil in the near future. The Agriculture potential of Ethiopia, according to Wikipedia quoting the NYTimes is able to feed much of Europe. May i add the fact that Ethiopia as the Capital of Africa is the get way to Africa which has allowed China to penetrate the rest of the Continent. A Nation of 80 million consumers who get billions in remittance spend much of it on Chinese products. Given the current boom of education, it wont be long when our human capital will be appreciated. True, We have to assume that our friends, the Chinese, are in for the long term. Far sighted as they are, most Chinese experts, based in Bejing, have done their math unlike this novice diplomat who should be recalled for ignoring the real facts on the ground, just to tame the appetite of Bloomberg pundits who seem to have serious bias against Ethiopia.
11/03/10 @ 03:16
Comment from: mourons [Visitor]
what is the difference between chinese and white man's exploitation of ethiopian labour dummies?
11/03/10 @ 03:42
Comment from: Gud new [Visitor]
And more chinese workers to Ethiopia. I am sorry for Ethiopia for seemingly advantaged.
11/03/10 @ 05:22
Comment from: RAMATOHARA [Visitor]
When an investment comes from China everyone is happy but when a book comes from Iran Everyone complains. Which one really is bad for Ethiopians? How can we benifir from Chinese projects while they hire only Chinese and export the product. How can the people be benifited? How can we transfer technology if no Ethiopian is allowed to be employed? What about the effect on the local leather industry and its poor employees? The result will be environmental pollution + few dollars to the weyane top pockets. You will see. Men you don't know how the Chinese are selfish and self-centered.
11/03/10 @ 06:16
Comment from: Timo [Visitor]
Deresse and likes
I think you are born to complain.If you saw a successful Ethiopian citizen you label him/her as a weyane agent, again if a foreigner opens a factory in Ethiopia or invests in the country this doesn’t make you happy either. But the good thing is that you and likes are useless and and the Government ignored you and decided to move foreword. So if you have some thing to contribute for the development of our country(for the achievement of DTP) you are well come at any time other wise keep barking as you have been doing it for the last 20 years
11/03/10 @ 09:06
Comment from: belete [Visitor]
when an ethiopian gets in business its for sole reason of to become a millioner over night by hook or crook. hard work and dicipline are not part of the business. that is why you see most ethiopians investing in night clubs, restaurant etc.. maybe we have to let more chinese in so the future generation is different from the corrupted past one.
11/03/10 @ 12:22
Comment from: alem [Visitor]
I am going to be nuts to read all these comments. The buity of democracy is to have different oppinion and respect one another. But when we have such differce and stand for a single issue all over; imagin people.... how difficult it is to govern and make every body happy. "Metne le poletikegna".
11/03/10 @ 21:38
Comment from: Fred [Visitor]
The Chinese know how to invest 67 mill. and take away 6.7 bill. Good luck Ethiopia.
11/04/10 @ 10:49

Comments are closed for this post.

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