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Lusaka to have another industrial park for investors from China

ESTHER MSETEKA, Lusaka
A CHINESE company is to set up a trading estate in Lusaka’s heavy industrial area to promote investments exclusively from southeast China.
Zhongyang Construction Group and Zambia have since signed an agreement for the establishment of what will be called Jiangxi Industrial Park, which will be a platform for investors from China’s Jiangxi Province.
According to Trading Maps, Chinese foreign direct investment to Zambia has grown from US$332 million in 2011 to US$543 million in 2014, representing about 30 percent capital inflows.
Jiangxi Federation of Industry and Commerce president Lei Yuanjiang said the group is among six national premium construction enterprises with diversified businesses in the Chinese province.
Mr Lei said recently that China will continue encouraging investors from that country to take advantage of Zambia’s investment potential.
Last year, Government and the Tianjin Federation of Industry and Commerce launched the One Belt One Road industrial parks in Lusaka and Chisamba with a US$1 billion investment to create national wealth and job opportunities.
“To respond to the national ‘One Belt One Road’ development strategy, Zhongyang Construction Group set up a special department of foreign affairs and companies of overseas projects. In April this year, the group signed comprehensive agreements to establish Jiangxi Industrial Park in Zambia and to introduce and expand domestic enterprises to invest in the country.
“I am hopeful that the Zambian government will support the construction of the Jiangxi Industrial Park,” he said.
Earlier, Zhongyang chairman Chen Shengde is hopeful that the creation of the Zhongyang – Huajiang Construction Group Zambia Limited will help set base for more investors from Jiangxi Province.
Mr Chen said the group will ensure that Jiangxi Industrial Park in Zambia becomes a model for modern facilities in Africa.