PRESIDENT Rupiah Banda has invited more Chinese investors to come and explore investment opportunities in various sectors of the economy in Zambia and thanked the Chinese investors for not scaling down on production and labour during the global economic crisis.
And the Chinese government has cancelled 50 per cent of the unpaid loan for the construction of the Tanzania-Zambia Railway Authority (TAZARA).
Speaking at the China-Zambia Investment Promotion seminar held at the China Nonferrous Metal Corporation (CNMC) headquarters in Beijing yesterday, President Banda said Zambia had since independence enjoyed good economic cooperation with the Chinese government and urged the Chinese companies that attended the seminar to visit Zambia and explore investment opportunities.
Opportunities are available in areas such as agriculture, mining, manufacturing, tourism, energy and information communication technology.
President Banda said it was the Zambian Government’s wish to promote an environment in which partnerships between Zambia and Chinese business houses could be strengthened for the mutual benefit to ensure a win-win outcome for the two nations.
“The objective of this seminar is to cement the warm and strong relationship between our two countries. Specifically, our aim at this seminar is to showcase the vast investment opportunities that exist in the Zambian economy for Chinese investment.
“To those companies that are participating in this business seminar, particularly for those who may have not enough information about Zambia, I would like to ask you to obtain as much information as possible from this seminar.
‘‘In addition, I invite you to come to Zambia to see for yourselves and explore investment opportunities in a number of areas such as agriculture, mining, manufacturing, tourism, energy and information communication technology,” he said.
He said the Chinese had been involved in the implementation of some important projects in Zambia such as the construction of the TAZARA , construction and rehabilitation of roads, supply of shortwave transmitters to Zambia’s national broadcaster, construction of a new ultramodern Government complex, rehabilitation of the silos, construction of houses and provision of scholarships as well as development of medical doctors to Zambia.
President Banda observed that not long ago, the Chinese government opened a branch for the Bank of China in Lusaka alongside a trade and commercial centre.
He said the coming of the Bank of China meant that business interests from China would be fully supported by Bank of China and the other commercial banks capable of providing business with first-class financial services.
He was confident that the Zambian business houses that attended the seminar would return to Zambia with a Chinese business partner.
President Banda said it was befitting and symbolic that the China-Zambia investment seminar was being hosted by CNMC, a company that had already made enormous strides towards the consolidation of partnerships in a number of areas such as social, political, economic, technological and cultural fields.
President Banda said following the forum on China-Africa Cooperation in November 2006, and the State visit by President Hu to Zambia in 2007, China made several commitments and all had been implemented.
Among the projects implemented was the construction of an ultramodern national stadium in Ndola, establishment of multi-facility economic zones in Chambishi and Lusaka and the provision of machinery for road construction.
He said the US$10 billion that China committed to African countries in form of concessional loans was a noble gesture which would go a long way in consolidating the gains that had been achieved.
And according to news monitored on Zambia National Broadcasting Corporation last evening, Mr Wen Jiabao announced the Chinese government’s cancellation of 50 per cent of the unpaid loan for the construction of the TAZARA.
President Banda thanked the Chinese government for the gesture.
[Times of Zambia]
Here we go again!! Willing to give opportunities to others let alone Zambians. Support the locals o invest,you are sure that when they make profits the money will be kept in Zambia. Why can’t we start thinking of investing in the manufacturing sector? je ne comprend pas
What do you expect from a DULL Leader? He probably can’t even remember what he said! Shame that he was recieved by a Deputy Minister, not a Minister, Vice President or President himself. What a shame!
We shall welcome the cancellation of 50% of the loan. But it is imperative to know exactly how much we owe? Anyway, thank Mr President for your hard work. I will give praise where it is due and critise you constructively where you are failing. China is now an influencial partner globally and we need her but we have to be careful and clear in our engagements.
BRING MORE OF THEM IF THEY ARE READY TO PAY MORE THAN 5M NOT JUST TALK .LEARN TO MANAGE THEM
You know guys, i agree that that we can let these guys invest in Zambia, but there has to be rules to play by for these investors and this should be a win/win situation for the Zambians and the Chinese. Zambia’s economy should be seen to improve and the Zambians should be able to feel this benefit. Already som ‘girls’ in Zambia have started having children with some of the Chinese workers in Zambia. If its a normal marriage great but if they will start breeding carelessly leaving unfathered children, then we will be in trouble as a country with fatherless children when they go. So what iam saying is educate these people not to get in uncommited relationships carelessly. Rember how we once upon a time we had African/Indian children???