Maravi

Rupiah pins his hopes on Chinese, Indians

Rupiah pins his hopes on Chinese, Indians
Written by Chibaula Silwamba
Monday, January 19, 2009 7:17:59 AM

CHINESE and Indian investors are the only ones who seem to have money left for investment in the mines, President Rupiah Banda said yesterday.
And President Banda said he does not want to jump onto Libyan President Colonel Muammar Gaddafi's proposed United States of Africa government before he finishes consulting with other regional leaders.

Responding to questions from journalists at Lusaka International Airport before departure for Libya for a two-day official visit at the invitation of President Gaddafi, President Banda said the government could get some Chinese investors to take over the mines that might be abandoned.

President Banda said several Chinese and Indian investors wanted to take over some mines in Zambia such as the Luanshya Copper Mines (LCM) which has been put under care and maintenance by the owners due to the global financial crisis.

“First of all, you will hear that it is true that they [LCM owners] have indicated that they want to put the mine under care and maintenance but we have engaged them, we are talking to them so that the whole thing is not a mess, we don't have the kind of problems that we had in the past,” President Banda said. “We could get the Chinese investors; you know the Chinese and perhaps the Indians seem to be the only people to have money left to be able to invest in them [mines]. Several Asians are interested to come back to Zambia to take the empty mines.”
President Banda was responding to a question on reports that the government was courting a Chinese company to take over the LCM.
And asked about his position concerning President Gaddafi's proposal for the establishment of a single government for the whole African continent, President Banda said he would only make his position known after listening to the Libyan leader and consulting other regional leaders.
“I am sure that is one of the things that I am going to be briefed upon, as you know I am going to Libya at the invitation of the President of Libya Colonel Muammar Gaddafi. I am sure he will raise that question,” President Banda said. “I will listen as you know I am new, I don't want to jump into things; you have seen my style. Now I would like to listen carefully and learn and consult with all the colleagues in the region. My position will be made clear after I have finished my consultation.”
The late president Levy Mwanawasa was skeptical about the formation of one government for the whole African continent.
And President Banda said he had not heard of any calls for the government to set up a national airline.
“I haven't heard those calls except from yourself but you know, discussions have been going on for quite some time. We have had a bad experience with the first national airline and whenever we start another one, we have to make sure that this time around it works,” said President Banda.

Labels: FDI, RUPIAH BANDA

posted by MrK @ 7:20 AM