Chinese company Zhejiang YaoHeng Photoelectric Technology (YaoHeng) has expressed interest to invest in Ethiopia's agro-processing sector, particularly in the production and export of rapeseed oil.

YaoHeng's representatives had a virtual meeting with Lelise Neme, Ethiopian Investment Commission Commissioner, Ethiopia's Minister of Foreign Affairs announced. Gebeyehu Ganga (Ambassador), Director General of the Middle East and Asia-Pacific countries at the Ministry of Foreign Affairs of Ethiopia, Dawano Kedir (Ambassador), Deputy Chief of Ethiopia’s mission in Beijing, as well as representatives from the Ministry of Agriculture and Land Bank and Development Corporation have also attended the meeting.

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.

Commissioner, Liselise Neme reiterated the government's commitment to providing 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 Ganga and Ambassador Dewano Kedir, on their part, lauded 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.

Source: Ministry of Foreign Affairs