Ethiopia is Attracting Billions in Direct Foreign Investment (Video)
Dec. 13, 2012
CCTV Report: Ethiopia’s Trade Sector Growing Fast
Ethiopia has been registering remarkable economic progress in recent years. Thanks to the government policies, a lot of red tape and backward system has been removed. As the result of the revolutionary policies, doing business in Ethiopia is getting easier every year.
Addis Ababa is changing by the very minute. The city has recently been in a construction boom, with sky scraper buildings rising in many places. Amazing growth in the hotel and hospitality sectors; and investors are tapping Ethiopian tourism potential than ever before. Already many five star hotels are currently under constructions. Various luxury services have also become available and construction of shopping malls has recently increased.
Have a look at this video from CCTV:
One example of investment:
Chuan Hui International Hotel in Ethiopia to be Africa’s Tallest Building
May 14, 2012 – Guangdong Chuan Hui Group is delighted to announce new details about the projects being developed in Ethiopia in general and the Chuan Hui International Hotel in Addis Ababa in particular. After negotiations with the Addis Ababa Municipal Authority the Chuan Hui group has secured 41,000 sq m of land in Urael district for the construction of the hotel complex. At the meeting, Mr. Yanlin Liu expressed the future blueprint for Sino-Ethiopian Chuanhui Investment Holding Group: first, to establish the Chuanhui Industry Zone—the largest cement production zone in Ethiopia. Chuanhui Industry Zone will expand another twenty hectors of the land based on the previous forty hectors. The total area for the Industry Zone will reach sixty hectors. Besides the self-built cement plant, it will continue to attract foreign investors and foreign capitals to expand the scale the cement production as far as possible; second, to build the five-star hotel which will become the landmark in Ethiopia. The area of the land is around fifty thousand square meters. Once the five-star hotel is completed, it will provide and create working opportunities for local people and will also promote the development of local tourism; third, to build the biggest Diesel Generator Supply-Maintenance Center in Ethiopia. Guangdong Chuanhui Group has reached the cooperative agreement with Shandong Zibo Diesel Generator Corporation; forth, to build the Automotive Supply and Maintenance Center. Guangdong Chuanhui Group will cooperate with JAC Group to explore the automotive market.
The Chuan Hui International Hotel will have 58 floors and rise to a total height of 264 meters according to the current plans, although there is a proposal of 312 meters currently under consideration. Under our current plans, there will be 480 rooms all of five-star quality. There will be at least five restaurants, with Guangzhou cuisine, Ethiopian cuisine, Italian cuisine, and Modern cuisine being represented, as well as a coffee shop and cafe. There are possible plans for a revolving, or at least roof top, restaurant and lounge. 1000 sq m will be set aside for three levels of retail, with a Chinese theme but with planned international retailers. The 2600 sq m of conference space will include a plenary hall, a Grand Ballroom and many conference and breakout rooms. Chuan Hui Group is in negotiation to have an international Asian hotel group, of the caliber of Raffles or Shangri-La, manage the hotel. We are also considering the possibility of a Ethiopian fusion restaurant. Also planned are 10000m of garden grounds, and a 300-spot underground parking garage.
The project is planned to be completed by 2017. We have attached a folder with four renderings of the hotel, two exterior and one of the ballroom and the lobby.
Guangdong Chuan Hui Science and Technology Development Group Co., Ltd., founded in 1989, referred to as Chuan Hui Group, one of the Guangdong Province of the earliest private group companies. Our company was established in 1990, when registered as “Chuan Hui Industrial Co., Ltd.; 1992, with the development of new, registered as” Chuan Hui Industrial Development Co., Ltd.; 1993, the formal establishment of a dubbed the place where name and level of Huiyang County, Sichuan Hui Enterprise Group, December 1994, the company approved as a provincial private sector, Guangdong Province Chuan Hui Enterprise Group was registered in December of that year. 1999, officially renamed as “Chuan Hui, Guangdong Science and Technology Development Group Co., Ltd., has been in use ever since.