African ministers meet in Addis Ababa to boost investment

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African ministers, central bank governors, representatives of regional economic communities, multi-national companies, and development partners are meeting in the Ethiopian capital Addis Ababa on possible ways of boosting investment in the African continent.

According to APA, the forum aims at promoting accelerated and responsible investment and partnerships in Africa, from China in particular and other parts of the world as well as within the continent.

At the end of 2012, the 11 largest cumulative investment destinations for Chinese companies including South Africa, Nigeria and Ethiopia account for 75 percent of china’s direct investment stock in Africa.

As Africa develops its industrial base, we would like to see the Chinese investment knowledge and technology be used in industrial production and appropriately be used outside and inside the continent and create more wealth to us Africans, Mukthar Diop, vice president for Africa at the World Bank said.

The forum also explores possible opportunities to increase investment and industrialization to help the continent unlock its potential for sustainable and inclusive growth, create jobs and reduce poverty.

The two-day forum is expected to provide the opportunity to create special economic zones and industrial parks, improve infrastructural and trade logistics and improve regional integration as well as lay foundation to develop skilled manpower across the continent.

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