Business Headlines

‘Zambia’s investment climate favourable’

KALONDE NYATI, Zhengzhou, China
ZAMBIA’S favourable investment climate and abundant natural resources will continue to attract Chinese investments across sectors, thus helping the country realise its growth potential, the Bank of China says.
Bank of China vice-president for Henan Province branch Xu Jianhua said with most Chinese firms seeking opportunities to expand their businesses and to enhance investment ties with Africa, countries like Zambia remain preferred destinations.
Mr Xu said in an interview on the sidelines of the 2017 Henan Industrial and Commercial Enterprise cross border investment and trade fair that investments by that country will enhance technological transfer and job creation to boost commerce and industry.
“Chinese firms are demanding for markets, for investments, and are looking to Africa, and Zambia is one of the countries they are considering because it has resources,” he said.
According to statistics from the Zambia Development Agency (ZDA), investments from China into Zambia have been growing steadily currently, standing around US$3 billion.
The Henan Industrial and Commercial Enterprise cross-border investment and trade fair is an annual event sponsored by the Bank of China and the Henan provincial leadership that brings investors from across the world to explore investment opportunities through business-to-business linkages.
Zambia is being represented by the mission here, ZDA, Zambia Chamber of Commerce and Industry, Zambia China Business Association and other private and public entities.
Mr Xu said the Bank of China will continue to facilitate cross-border trade and investment cooperation between China and the continent through initiatives such as business-to-business linkages.
He also said there is need to strengthen relations between Zambia and China to enable Zambia tap into that country’s expertise.
Meanwhile, Bank of China small and medium enterprises services general manager Wang Jian also pledged the bank’s commitment to link Zambian and Chinese companies to accelerate Zambia’s growth.
“We are committed to ensuring that we build a platform for the Chinese companies to work together with the Zambian companies so as to promote economic growth and internationalisation.
“Bank of China is the most internationalised bank in China spearheading economic development in Africa. It took the initiative of international matchmaking of companies in Africa and China in 2013 to help grow the African companies and their respective economies,” he said.
Mr Wang said the bank has to date linked about 20,000 Chinese companies with the African companies and that that has enhanced the operations and production capacity of the companies.

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