Chinese company seeks to invest in rapeseed oil production

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Zhejiang YaoHeng Photoelectric Technology, a   Chinese firm, has expressed interest to invest in the Agro-processing sector of Ethiopia, particularly in the production and export of rapeseed oil.

Representatives from the Chinese company held a virtual discussion on Thursday with Lelise Neme, Ethiopian Investment Commission Commissioner (EIC), Ambassador Gebeyhu Ganga, Directorate General of the Middle East and Asia-Pacific countries at the Ministry of Foreign Affairs of Ethiopia, Ambassador Dawano Kedir, Deputy Chief of Ethiopia’s mission in Beijing, representatives from the Ministry of Agriculture and Land Bank and Development Corporation.

Zhejiang YaoHeng Photoelectric Technology is currently engaged in the production of energy-saving light bulbs in Ethiopia, planning to expand its investment in the agricultural sector.

Lelise mentioned that the government of Ethiopia provided incentives to foreign investors, further appreciating the company’s decision to engage in the agro-industry sector.

During the meeting, representatives of the Ministry of Agriculture and the Land Bank and Development Corporation spoke in detail about incentives available for the company.

Ambassador Gebeyehu and Ambassador Dewano, on their part, praised the company’s decision to explore investment opportunities in the Agro-processing sector, reiterated the government‘s commitment to providing the necessary support, and called on company officials to visit Ethiopia soon.

 

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