On 25 May 2022, Ambassador Teshome Toga held a virtual discussion with Dr. Shen Yaping – Vice-President of Jiangsu Hengrui Medicine Pharmaceutical Company on ways of investing in Ethiopia.
Noting that China is Ethiopia’s primary source of Foreign Direct Investment (FDI) and major financier of its many development projects, the Ambassador mentioned that the government has made the development of the pharmaceutical sector a priority and ensure the attainment of medicine and medical equipment supply need. He added that one of the major goals of the 8th Forum on China Africa Cooperation (FOCAC) ministerial conference, held last year in Senegal, Dakar, is cooperation in the medical sector.
Furthermore, the ambassador briefed the vice-president on the current internal situation of Ethiopia and said, unlike the distorted narratives on the Western media, Ethiopia still presents favorable market opportunities with a specially designated locations for foreign companies that are interested to invest in the pharmaceutical sector. He further explained that in addition to profitability, the company’s presence in Ethiopia will have a much more significance to the political and diplomatic relations between Ethiopia and China and called on the company to make a pre-investment visit. He also reassured him that the Embassy will provide all the necessary assistance.
Dr. Shen Yaping, on his part thanked the Ambassador for the elaborate explanation provided to him and noted that the two countries enjoy strong political, diplomatic and economic relations. He added that the company will give due attention to investing in Ethiopia.