Africa can draw lessons from China’s experience in the development of industrial sectors, in the continent’s bid to make its industries more effective, an Ethiopian scholar said.
“African governments can make good use of China’s proven experience in the development of industry parks,” Xinhua news agency quotes Costantinos Bt. Costantinos, who served as an economic advisor to the African Union (AU) and the United Nations Economic Commission for Africa (ECA).
According to Costantinos, China’s development model for its industrial parks could be a benchmark for African countries in their quest to transform their economies.
“Like the Chinese experience, these industrial parks will contribute better if capital (both local and foreign currency) is available for investors,” Costantinos said.
African countries are currently building industrial parks to provide employment, increase national incomes and create value for African products. This is inspired by similar moves by China and other Asian nations.
In his interview with Xinhua, Costantinos urged African countries to follow the Chinese model of industrial revolution and create the right atmosphere for the operation of investors.
“When institutional investors descended into China’s industrial parks, China had the right mix of macroeconomic and financial policies that allowed the institutional investors to operate profitably in the global market,” he said.
“Africa needs to set this in motion immediately, otherwise the industrial parks will remain white elephants.”
“China can advise African governments what kind of skill and effort is required to make an industrial park attractive, like they have accomplished in the already successful Dukem Park (Ethiopia’s Eastern Industry Zone),” Costantinos said.
