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Ethiopian Finance Minister Visits CGGC
Date:2019-12-26 VisitCount: Font size:[ L M S ]

On December 24, Board Chairman Mr. Lyu Zexiang warmly received and met with the visiting delegation led by Ahmed Shide, Minister of Finance of Ethiopia in the Beijing headquarters of CGGC, during which both sides conducted in-depth exchanges and reached consensus on deepening practical cooperation within the "Belt and Road" cooperation framework

The meeting photo

During the talks, Lyu Zexiang expressed his sincere welcome to the visiting Minister and his delegation, and gratitude to the Minister and the Ethiopian government for their long-term support to CGGC. He noted that Ethiopia is a major pivot of the "Belt and Road" initiative in Africa and a pilot country for China-Africa capacity cooperation, enjoying a broad market prospect. Since it started operation in the Ethiopian market in 2002, CGGC has been adhering to the cooperation concept of "fairness, integrity and win-win," and has extensively participated in the construction of Ethiopian energy infrastructure. So far, 15 projects have been completed or under construction, involving multiple fields such as hydropower, power transmission and transformation, transportation and water services. Ethiopia is a country featuring a large population and huge economic potential, and it is one of the fastest growing countries in Africa. CGGC is full of confidence in expanding the Ethiopian market, and is willing to bring into full play its competitive strength in the field of investment and financing construction, strengthen the economic feasibility study of projects, and extensively participate in the construction and investment in the Ethiopian power energy and infrastructure via various modes such as EPC + F and PPP. Meanwhile, CGGC will actively promote cooperation and cultivation of technical professionals with Ethiopia to contribute to the social and economic development of Ethiopia.

Minister Ahmed praised CGGC as a globally competitive multinational enterprise, which has won high recognition from all walks of life over the past 20 years in the Ethiopian market by virtue of its good performance capability and high sense of social responsibility, and expressed his support to CGGC in its performance of electric power, water, roads and other projects under construction. He noted that the Ethiopian government is actively promoting the infrastructure construction, optimizing the financing structure, expanding diversified financing channels and scientifically and rationally regulating debt levels so as to ensure a sustainable economic development. The Ethiopian government welcomes CGGC, which is a trusted partner of Ethiopia, to extensively participate in the investment and construction of the Ethiopian energy infrastructure with diversified investment and financing modes under the framework of "Belt and Road" cooperation, and deepen cooperation in various areas such as technical personnel training, thus contribute to the constant enhancement of China-Ethiopia comprehensive strategic partnership.

Before the meeting, Minister Ahmed and his delegation also visited the culture exhibition hall of CGGC, where they further deepened their understanding about CGGC’s development history, overall situation, business scope, international business layout, representative projects in Ethiopia.

Visit the Cultural Exhibition Hall

The above activities were attended by Admasu Nebebe, State Minister of the Finance of Ethiopia,  Mr. Yuan Baoyi, Deputy General Manager of CGGC, and responsible personnel from the Third International Department of CGGC and CGGC Ethiopia branch.

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