Tuesday, May 21, 2024

President Edgar Lungu calls on Chinese investors to partner with local private companies

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President Edgar Lungu meeing with Bank of China Mr Tian Guoli,ah his delegation which encluded Chinese Ambassador to Zambia H.E. Mr. Yang Youming an at Statehouse on Friday 24-03-2017- Picture by Eddie Mwanaleza.
President Edgar Lungu has called on Chinese investors to partner with local private companies to foster economic growth in the country.

President Lungu says government values participation of the private sector in improving the country’s economy.

He said this when a delegation from the Bank of China led by the chairperson of the board of directors Tian Guoli paid a courtesy call on him at state house today.

The Head of State said it is clear that China has confidence in the stability of Zambia following the setting up of Bank of China offices in the country.

The President further called on the bank to avail products that will benefit the Zambian people.

President Lungu said he is hopeful that cooperation between Zambia and China will continue to be strengthened to enhance development.

And Mr. Tian has described Zambia as one of the best investment destinations in the world.

He said due to the mutual friendship between the two countries, China has a duty to help develop Zambia.

The Bank of China has been opened in 51 countries and currently has 600 branches.

President Edgar Lungu with Bank of China Mr Tian Guoli(left )and Chinese Ambassador to Zambia H.E. Mr. Yang Youming an at Statehouse on Friday 24-03-2017- Picture by Eddie Mwanaleza

20 COMMENTS

    • Will never happen

      Partner and the Zambian get 5% of proceeds more like.

      Blacks are doormat and are born not the smartest.
      If Obama didnt have a white mother he would have gone no where, it was the white gene that catapulted him to stardom.

      Thanks

      Bb2014,16

    • I DID SUGGEST THAT TO SOME AUTHORITY BUT I WAS TOLD THAT, “WE CAN’T FORCE ANYONE TO PARTNER WITH ZAMBIAN OWNED BUSINESSES”. HOWEVER, IF ZAMBIA IS AND I QUOTE:

      “And Mr. Tian has described Zambia as one of the best investment destinations in the world.”
      WHY CAN’T WE USE THIS ZAMBIA’S INVESTMENT CONDUCIVE SITUATION TO EVEN MAKE LAWS THAT COMPELL OUTSIDE INVESTORS TO PARTNER WITH LOCAL INVESTORS? MOST OF THESE FOREIGN INVESTORS ARE FINANCIALLY BACKED UP BY THEIR GOVERNMENTS THROUGH THE SAME ANIMAL CALLED- POLICY. TO BALANCE IT WHOLE OUR GOVT SHOULD ALSO COMPELL THEM TO PARTNER WITH LOCAL BUSINESSES. IF YOU ARE IN DOUBT, PLEASE, READ HOWARD FRENCH’S LATEST BOOK ABOUT CHINA AND AFRICA.

    • If an investor tells you that you have a conducive investment policy in a situation like ours where GRZ cannot pay local suppliers for services they have consumed then you should know that investor is reaping you off big time.Chinese partnered with Zimbabwe,zim is a sorry sight.The Chinese only takes care of the great leader Mugabe and ensure his police have no shortage of tear gas and live ammo.Good luck mr changwa with your newly discovered ability to perform.

    • @3.1 DON”T BE NEGATIVE ALL THE TIME. ALL FOREIGN COMPANIES OPERATING WITHIN AND ACCORDING TO EXISTING LANDLAWS. IF LANDLAWS ARE WEAK/CORRUPT, THEY ALSO OPERATE IN A CORRUPT MANNER TO BE IN GOOD BOOKS WITH CORRUPT AUTHORITIES. SO, IT’S NOT ENTIRELY, FOREIGN COMPANIES THAT MESS UP AFRICA. TO THE MOST, IT’S AFRICANS IN HIGH AUTHORITIES. IF YOU LOOK AT BOTSWANA THEN YOU WILL UNDERSTAND WHAT I AM TALKING ABOUT. BECAUSE OF VERY HIGH STANDARDS OF BUSINESS IN GOVERNMENT OPERATIONS AND STRICTLY FOLLOWED POLICIES, ANYONE DOING BUSINESS IN BOTSWANA FOLLOWS THE LAW TO THE LETTER. THE CHINESE ROAD CONSTRUCTOR IN ZAMBIA ARE THE SAME IN COMPANIES THAT CONSTRUCT ROADS IN BOTSWANA. BUT, CHECK THE DIFFERENCE! OUR ROADSARE RAZOR BLADES. BOTSWANA’S ROAD ARE SO THICK AND IN MOST CASES REINFORCED WITH…

    • @3.1 …, CHECK THE DIFFERENCE! OUR ROADSARE RAZOR BLADES. BOTSWANA’S ROAD ARE SO THICK AND IN MOST CASES REINFORCED WITH REINFORCEMENT BARS. IN ZAMBIA RDA AND SOME OTHER WELL PLACED OFFICIALS EAT MOST OF THE MONEY. IT’S NOT THE CASE IN BOTSWANA.

  1. Iwe Lungu, “calling upon Chinese to partner with locals” is Soweto market way of doing business -unwritten. You need to clearly put that in the conditions and MOUs. Put it in black and white as part of key agreement conditions. You think Chinese are here because of sympathy for poor Zambia??

  2. @Naomi with matibini as choir master for the POLITICAL FARTING praise singing pf mps, i wonder if the National assembly would come up with such legislature, yesterday mwansabombwe pf mp rogers mwewa was busy raising more points of order on why he called matibini a pf cadre, yet it’s a known fact that the guy is the choir master for the pf parliament choir , he now wants the legitimate president HH to be summoned to parliament, since it’s now constitutional to address parliament every six months.

  3. Chinese are very smart. They have their own bank in our country. I can’t believe we agreed to this. How are we benefiting?

    • Bank of China is everywhere even in England or where ever there is Chinese businesses/ China town as they do not want their people banking with competition eg HSBC ..its a very smart move hence the reason why China Geo construction can go 6 months without payment from the govt as it has the bank cushioning the blow with low interest (2%) or zero overdrafts something that a Zambian contractor can only dream of given that banks charge 40% APR.

  4. What partnership when all they are doing is phucking Zambia in the backside while they mistreat workers, sleep with underage women and break up marriages by impregnation of their workers wives. Meanwhile lungu is been bought by them in order to turn a blind eye. And you say we have a president. Maybe a f00lish president

  5. Lungu and the PF are too thick to handle the Chinese. They are easily bribed and it’s mother Zambia that suffers.

    He is still signing about this yet he has been 4 years in power !!!!. What a joke of a president.

  6. Laughable pro called president.Does this man think or kachasu has destroyed his brains. For Chinese to partner with Zambians you need to legislate that no one should come and do business without partnering with a Zambian. even then Zambians are so dull because they fear the China man the same way they fear the white man and mwenye.

  7. What a foool this lazy canister is…he has sold the Chines contracts and now the Eurobond is finished he advises about partnering. A Chine company can employ labourers and call it partnership or subcontract Joining/Painting firm call it partnership. If this lazy canister is serious about his utterances like he is about that ICC nonsense he would be implementing policy.

  8. These are the words which haven’t been used for a long time, yes indeed that is what we need if we can progress with out which we will keep on loosing what belongs to us.
    Zambians need to be aggressive to tackle this issue ,though KK never wanted Zambians to do nothing as he sold us to the maskepetumus .
    He only allowed Indians to do business and they teased us that, ” the country is yours but money belongs to us ”.

    • If you contract loans via EXIM banks you can not expect foreign contractors to partner with locals …if you are making such statements then you have no idea what the role of an EXIM Bank is.

  9. Useless president! What do you know about investment? Rubbish! Chule! Frog! Dog! You are the worst president coming from a poor background and so you are just busy stealing public funds. You drunkard!

  10. Come on you weak and lame president. Put this in a law. You expect an investor to be charitable and empathise with the locals?

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