2023, Sinoma Cement signed a strategic framework agreement with Belenta Cement Company. Zhao Zhiyuan, Chinese Ambassador to Ethiopia, attended and delivered a speech. More than 60 people, including Habtam, Minister of Mining of Ethiopia, and Ilkar, Governor of Amhara State, attended the meeting. Accompanied by Yang Yihang, a businessman and public counsellor.
Zhao Zhiyuan pointed out that China and Egypt have established diplomatic relations for more than 50 years and are comprehensive strategic partners. Under the guidance of President Xi Jinping and Prime Minister Abi, political mutual trust between the two countries has been deepened, and pragmatic cooperation in economic and trade fields has yielded fruitful results. China has been Ethiopia's largest trading partner and largest source of investment for many years. Chinese investment projects cover processing, manufacturing, agriculture and many other fields, and have played a positive role in accelerating Ethiopia's industrialization process, increasing government tax revenue and creating jobs.
Zhao Zhiyuan stressed that Ethiopia's economy is developing steadily and rapidly, especially in the fields of building materials industry and infrastructure construction, which have great potential and broad prospects. Sinoma Cement and Berenta Cement signed the Strategic Cooperation Framework Agreement, which is the first step for China Building Materials Group to start cooperative investment in Ethiopia. It is expected that the two sides will work closely to solve the problem of cement shortage in Ethiopia, meet the needs of infrastructure construction and make new contributions to Ethiopia's economic development and employment.
Zhao Zhiyuan said that China is willing to deepen friendly cooperation with Ethiopia, deepen the docking of development strategies, enrich exchange and cooperation mechanisms, create a good business environment, improve the security of enterprises, further expand investment through policy support, promote the steady progress of economic and trade cooperation between the two countries, and jointly push China-Africa relations to a new level.
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