China Africa Leather Limited By Share Ltd Officially Opened In Ethiopia On 24 Th.

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The opening ceremony was held in the morning at the company's factory near the town of Su RDA, more than 20 kilometers north of Addisababa, the capital of Ethiopia.

He Mingliang, chairman of the Limited by Share Ltd of the Central African leather industry, said that the total investment of the project was US $27 million. Since its inception in July 2009, after more than a year's struggle and support from the relevant departments of the Ethiopian government and the Chinese Embassy in Ethiopia, it has been formally put into operation today.

He said that after the project is put into operation, it will bring 500 employment opportunities to the local side, indirectly leading to the development of the related industry chain of about 50 thousand farmers' livestock husbandry and aquaculture, and at the same time, earn about 20 million US dollars for the export of Ethiopia.

After the completion of the first phase of the project, under the premise of the laws and policies of the two countries, the two phase leather project will be launched, and the investment will continue to be US $25 million. We will build a cowhide production line of 2000 to 2500 sheets per day, and set up a comprehensive group company integrating leather processing, leather products, sales and scientific research to achieve the goal of intensification of production and management, and ultimately achieve the goal of selling US $120 million annually.

Xu Yiren, a member of the China Development Bank's Party committee and discipline inspection secretary, who came to attend the opening ceremony, said that Ethiopia's livestock resource ranks the first in Africa. It is believed that the operation of Ethiopia Sino African leather company is not only conducive to promoting the development and upgrading of Ethiopia's livestock and leather processing industry, promoting local employment and improving people's livelihood, but also playing an exemplary role for China Africa Fund to support other Chinese enterprises to invest in Africa.

China Development Bank and China Africa Development Fund have been and will continue to strongly support Chinese enterprises' investment in Ethiopia.

Tadese, Minister of state of Ethiopian Ministry of industry, said that at present, the Ethiopia economy is in a period of rapid development. The Ethiopian government is taking all measures to attract foreign investment. The opening and commissioning of Sino African leather joint stock company is not only conducive to the development of Ethiopia's raw material advantages, but also helps to upgrade the leather industry level of the Ethiopian industry, realize the value-added processing of products, and increase the export earnings of Ethiopia. The Ethiopian industrial ministry is willing to provide support for the development of enterprises.

Gu Xiaojie, China's ambassador to Ethiopia, said that today coincides with the 40th anniversary anniversary of the establishment of diplomatic relations between China and Ethiopia.

Over the past 40 years, bilateral exchanges and cooperation in various fields have deepened and bilateral trade volume has been increasing. The Chinese government encourages Chinese enterprises with strong and prestige to increase investment in Ethiopia, and believes that the opening of the Limited by Share Ltd will further promote cooperation between the two countries in the field of trade and investment.