Maravi

(TIMES) Chinese property rights protected, State assures visiting minister

Chinese property rights protected, State assures visiting minister
By Times Reporter

GOVERNMENT has assured visiting Chinese commerce vice- minister, Gao Hucheng, that the Zambian Government will protect property rights of Chinese investors. Commerce Trade and Industry Minister, Felix Mutati, said yesterday when Mr Gao called on him that the two countries needed to expand economic relations by increasing the number of Chinese companies in Zambia from 200.

He said on its part, the Zambian Government would support investing companies with conducive policies that would ensure the growth of the economic relations.
Mr Mutati said Zambia was happy that the Chinese government was constructing an economic zone in Chambishi while another one would be set up in Lusaka.

“For the economic zone in Chambishi US$250 million has already been spent in a project that will cost $900 with capacity to create over 600 jobs,” he said.

He said the Government was grateful and indebted to China for deciding to locate the first of the five trade and economic cooperation zones in Zambia at Chambishi.

He said for Lusaka, there were also plans to construct an airport hub to connect Lusaka to neighbouring countries also linking China to the region especially that Zambia was surrounded by eight countries.

Mr Mutati said the companies constructing economic zones should be able to access loans for them to succeed and encourage others.

Mr Gao said Zambia was the first country in the region to establish economic ties with China and that his country was satisfied with the expansion in cooperation.

He said Chinese companies wanted to invest in Zambia because it was stable and had a conducive economic environment although there was need for increased communication by business sectors in both countries.

He encouraged the Zambian business community to buy Chinese products because of the durability and low prices while the Chinese business community should also buy Zambia’s resources.

The visiting vice-minister said his government would help in establishing economic zones and if they succeeded, more Chinese companies would invest in Zambia.

He added that China would construct rural schools, a hospital, malaria centre and agricultural centre for Zambians to improve on their farming.

He announced that 40 million RMB ($5 million) has been given to Zambia as a grant for use for any purpose to be identified by the Government.

Earlier on arrival at the Lusaka International Airport, Mr Gao said his visit to Zambia would enable the Chinese and the Zambian governments to discuss possible areas of economic corporation particularly in the mining and agriculture sector.

He told journalists that his trip to Zambia would further strengthen the pragmatic corporation that existed between China and Zambia as well as accord the Chinese government an opportunity to study Zambia’s investment opportunities.

He stated that the visit to Zambia was an opportunity for Zambian entrepreneurs to showcase their products to the Chinese business delegation that arrived in the country on Saturday.

Mr Gao said that the Chinese government would allow Zambians to export duty free different products to China mainly minerals and agricultural products.

And in his welcoming remarks, director of trade in the ministry of Commerce Trade and Industry, Siazonga Siakalenga said Mr Gao had come at a right time when Zambia had already started benefiting from the China-Africa Corporation Facility.

Mr Gao is also expected to tour the Chambishi Economic Zone in Chambishi.
On Saturday, a 20-member Chinese delegation arrived in Zambia ahead of the minister.

Labels: CHINESE, FDI

posted by MrK @ 2:48 AM