Thursday, March 28, 2024

Chinese businessmen expected in Ndola at governments invitation for investment opportunitites

Share

Minister of Commerce, Trade and Industry, Christopher Yaluma
Minister of Commerce, Trade and Industry, Christopher Yaluma

Following government’s appeal for increased investment from China, a business delegation from the world’s second largest economic country is expected in Ndola tomorrow to assess investment opportunities in the commercial capital of Zambia.

The Chinese delegation will be in Ndola to assess the investment opportunities in areas such as Light industry manufacturing, Electronics and science, Agriculture, Mining, Hotels and real estate sectors of the economy, among others.

The Huajian group visit follows the invitation from Minister of Commerce Trade and Industry, Christopher Yaluma after having seen the massive investment that the group had invested in Ethiopia.

Meanwhile, Copperbelt Minister Japhen Mwakalombe says Huajian group must consider Copperbelt and Ndola in particular to be their investment destination.

Mr. Mwakalombe says Ndola needs a five star hotel to be constructed near the new airport adding that the new airport will attract an influx of business officials once operational.He added that agriculture is a sector which government has given priority saying the Copperbelt has an advantage of good rains and fertile soils.

The Minister said as the province is in the diversification process, Copperbelt still has room for investment in the mining sector especially in other unexploited minerals like emeralds.The light manufacturing industry, Mr. Mwakalombe said, should be revived in the province and help to contribute to Gross Domestic Product (GDP) of the country as well as create employment opportunities for the people.

He added that a stable political ground in the country has also an advantage that foreign investors must appreciate noting that their investment will be safe.

18 COMMENTS

    • I wish government had the same zeal in creating opportunities for Zambian businesses. We have become the economic slaves of China.Whoever borrows is the slave of the lender

    • Let them invest in businesses that are not established. Bringing down eatablished Zambian businesses is not the answer.

  1. This mindset of giving every opportunity to foreigners (Chinese and Lebanese) must be brought to an end urgently! We cannot continue like this! Fed up!

  2. Enough of Chinese, we don’t want them in Ndola. After all your late President called them Chinese infestors. Look beyond China these people don’t mean well as they are capable of feeding people with dirt just to cut costs.

  3. It is quiet evident that our politicians like to promote foreign investment at the expense of the locals. This inferiority complex should come to an end. Clearly, we have become economic slaves of China!!

  4. none of you Zambians consider building a hotel,investment to most is flats and bottle stores. ndola has been lying idle for so many years yet when one investor comes you suddenly breathe fire. the rich guys or jerabos on the copper belt just drive Hammers and Four by four vehicles ,entertaining women and partying yet none if not a few have even built a proper hotel. we need to chnge our Mind sets and learn how to use these Chinese to better ourselves rater than complaining. how long did it take for Ndola to have a stadium after Dag was demolished,countless fundraising efforts and designs were made but money went missing. but the Chinese came and built two modern stadiums in 5 years.
    let these guys come and build its not like the will take the hotels and mines back to china

    • That is because in order to build a hotel or anything big you need capital,in terms of a bank loan.Conditions are not conducive and/or made difficult for locals to obtain.The chinese on the other hand get loans from their government which is framed as a Chinese loan to Zambia when in actual fact it’s a loan to a Chinese businessman. Kavindele has been trying to build a railway line for decades but successive governments do not support him.Clive Chirwa was going to build a modern railway system instead the Sata government frustrated him with triviality. Look at Zambia railways today.Look at the cumulative effects it’s had on our roads ,resulting in exponential increase in road traffic deaths…… Lets not enslave Zambia to a different form of colonialism

    • A Government to Government arrangement is better than what we have where Avic has all tenders because they are paying someone

  5. This is the time Zambia is bringing Chinese when in fact the government is suppose to make a smooth platform to empower Zambians in most sectors like what china is doing to ts locals. We are in deep sleep.

  6. China looks at the economic weaknesses of African countries and attack them in the form of investment support and suppresses local businesses. To gain economic and political support from African leaders they give the loans and cheap infrastructure support expertise in the name of global cooperation and multilateral relations. Watch out!

  7. Enough of these investors in industries that take money outside the country. Real investment and serious investors should be that of value addition to the raw materials that we have in the country. To have a strong economy, the country needs to bring in income called foreign currency. Zambia needs to improve on trade balance. Our economy will be stronger on if we export more than we are importing.
    Our foreign reserves have been deplited. No wonder we are dependant on donars and lenders such as IMF and world bank and continue to pay interest. Look, if you do not have and you further borrow, then you sink more into deficit or debit balance.
    It true to say a borrower is a slave to the lender. Therefore to avoid this status we need to up our game on creating production for export…

  8. Chinese people are not investors… the best description is “bone chewers ” they just take every little thing that’s left for their own benefits… have u ever been or rather come across someone who has or is working for them… they disrespect our law .. n treat people like their own properties or some sort of machine .. the only thing u care about is the 5 star hotel. .. n that who has ever built one… THAT’S BECAUSE U DON’T CONSIDER ZAMBIAN CONSTRUCTORS BUT JUST Chinese. .WE HAVE A LOT OF ENGINEERS, CONSTRUCTORS N A LOT OF OTHER WELL TRAINED PEOPLE TO BUILD THAT … BUT NO YOU DON’T WANT TO GIVE IT TO YOUR FELLOW ZAMBIANS. .. we have people who went to do the same thing the Chinese do whenever u pay then but still u want the Chinese. .. WHATS YOUR PLAN KANSHI? ? U CALL IT’ JOB…

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading