CHINA’S Foreign Direct Investments (FDI) in Zambia hits $2.6 bn

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Chinese enterprises in Africa
Chinese enterprises in Africa

By KENNEDY MUPESENI –
CHINA’S Foreign Direct Investments (FDIs) in Zambia has accumulated to US$2.6 billion with more than 500 Chinese companies investing in various sectors of the country’s economy.
Economic and commercial councillor at the Chinese Embassy in Zambia Chai Zhijing said the Zambia-China Cooperation Zone (ZCCZ), which is the first economic zone to be operated by China in Africa, has also attracted 29 companies in which more than 7,000 jobs have so far been created.
Mr Chai said this at the just-ended Zambia-China Jilin Trade and Investments Seminar which was held in Lusaka on Tuesday.
Speaking at the same function, Commerce, Trade and Industry Permanent secretary Siazongo Siakalenge said the Government would continue pushing for value addition to raw materials to get meaningful benefits.
Mr Siakalenge said the country offers a lot of investments in many sectors of the economy which investors from China and beyond can take advantage of.
“The MFEZ concept is to promote technology transfer, while creating massive job opportunities for our people,” he said.
Mr Siakalenge urged Chinese companies to relocate to Zambia looking at the investment incentives the Government was offering to companies investing in the MFEZ.
Director general of Commerce Department of Jilin Province of China, Cong Hongxia, said her delegation was in the country to look at the investment opportunities the country offers.
“We are looking at what Zambia has to offer especially in the agriculture sector and the processing industry,” she said.
Meanwhile, the  Zambia-China Exhibition Brand name Products Exhibition Centre has been set up at the Lusaka East Multi facility Economic Zone (LE-MFEZ) to showcase various products from China and Zambia.
Mr Chai Zhijing said the centre would promote Chinese and Zambian products as well as attract investments into the country.
The centre will exhibit Chinese products as well as locally produced Zambian goods throughout the year.
“The exhibition centre will exhibit products from Jilin Province in China and also products from local Zambian companies for the whole year,” he said.
This would be a tangible measure to promote bilateral trade and cooperation between the two countries.

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