Lungu invites Chinese investors

Mon, 28 Nov 2016 19:47:38 +0000

PRESIDENT Edgar Lungu has invited more Chinese investment in Zambia as the country remains an oasis of peace and tranquility and one of the most politically stable countries in Africa.

The Head of State said the Chinese investment in Zambian infrastructure had played a major role in the nation’s economic development.

These include the Tanzania Zambia Railways, The Chambishi Lusaka East Multi-facility Economic Zone, and the rehabilitation of the hydro-electricity power plant at Kafue Gorge and the establishment of the Lumwana mining project among others.

President Lungu was speaking when he graced the Beneficial Cooperation and Common Development gala dinner at the Inter-continental Hotel at the weekend.

The Head of State encouraged more investment from China, stating that there were still a lot of opportunities in the mining, tourism and agriculture sectors to be explored.

He named other projects as the new government complex building, the Levy Mwanawasa stadium and the National Heroes stadium and construction and rehabilitation of several roads.

Speaking at the occasion, the Head of State acknowledged the warm bilateral relations that existed between the People’s Republic of China and the Republic of Zambia which date as far back as 1964 when Zambia gained her independence.

He expressed appreciation at the nature of development cooperation between the two countries as well as the assistance rendered by the Chinese government in various sectors of the Zambian economy.

President Lungu said there was no doubt that cordial friendship and cooperation had grown from strength to strength through active participation in political, economic and social fields.

The President made particular reference to the implementation plans made during the various fora on China-Africa cooperation held since its inception in 2000.

He expressed gratitude to the Chinese government for choosing Zambia as one of the first countries to benefit from one of the projects to establish five trade and economic cooperation Zones in Africa between 2007 and 2009.

He noted that China was the third largest investor in Zambia with over 280 business enterprises with an investment portfolio estimated at US$5.3billion.

Chinese Ambassador to Zambia Mr Yang Youmin said Zambia and China shared the same aspiration for National Development and that the two countries were complementary in national development.

Mr Youmin hailed the solid foundation of friendship and cooperation the two nations had built gradually.

The event was well attended by among others, cabinet ministers, Senior Government officials, Chinese investors in Zambia and Zambian business community.

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