Maravi

Li asks Chinese investors not to cut jobs

Li asks Chinese investors not to cut jobs
Written by Fridah Zinyama
Saturday, January 24, 2009 8:48:11 AM

CHINESE Ambassador to Zambia Li Qiangmin has asked Chinese investors not cut any jobs for Zambians while continuing with their expansion projects.

And Standard Chartered Bank Zambia has said the current economic turmoil being experienced worldwide is not going to badly affect the Gross Domestic Product (GDP) growth prospects for Zambia and China.

During the celebration of the Chinese New Year on Thursday, Ambassador Li said Chinese investors should continue with their projects in Zambia in order to mitigate job losses the country was currently experiencing.

Ambassador Li said there had been an increase in the level of Chinese investments into Zambia, a trend which he said was likely to improve overtime.

“As China, we believe that Zambia remains one of the most ideal investment destinations because it’s stable politically and has been making good economic gains,” said Ambassador Li. “Therefore, my government is trying to help Zambia maintain its good economic trends by asking some of the Chinese investors in the country to maintain their investments and not cut any jobs.”

And Standard Chartered Bank Zambia managing director Mizinga Melu said the Bank remained confident that the Zambian and Chinese economies would remain resilient despite the current economic downturn.

“Chinese and Asian companies will continue to invest in African countries like Zambia and we see no reason why the long term trend of deepening mutually beneficial economic relations between Zambia and China will be reversed,” she said.

Melu said despite the global slowdown, the broader China-Africa trade corridor would be the most influential socio-economic development for Africa over the next few years.

“It will give further credence to the revaluation of African and Zambian assets; it will strengthen global perceptions of Africa and Zambia as an international investment destination and it will generate new businesses and jobs and boost associated domestic growth and demand,” said Melu.

Labels: CHINESE, FDI, LI QIANGMIN

posted by MrK @ 8:48 AM