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Wednesday, August 17, 2022

Kakubo meets Chinese Foreign Minister, assures Chinese investors of preferential tax policies

Headlines Kakubo meets Chinese Foreign Minister, assures Chinese investors of preferential tax policies

Foreign Affairs Minister Stanley Kakubo on Saturday held talks with his Chinese counterpart Wang Yi in east China’s Anhui Province.

Mr. Kakubo is the first Foreign Minister of a sub-Saharan African country to visit China since the coronavirus outbreak.

Mr. Wang hailed the traditional friendship between China and Zambia.

During the meeting, Mr. Wang said that the two sides should make persistent efforts to strengthen cooperation in traditional sectors, such as mineral development, and expand cooperation in emerging areas such as modern agriculture, manufacturing, and renewable energy.

For his part, Mr. Kakubo thanked China for its firm support in the country’s fight against the pandemic adding that the vaccines provided by China have helped Zambia dramatically increase its vaccination rate from less than 3 percent to over 22 percent.

Mr. Kakubo said Zambia attaches great importance to the Zambia-China friendship and pledges to enhance pragmatic cooperation in all sectors.

“Zambia will continue to provide Chinese enterprises with a stable business environment and preferential tax policies,” Mr. Kakubo added.

Kakubo meets Chinese Foreign Minister,
Kakubo meets Chinese Foreign Minister,

The two sides agreed that the Tanzania-Zambia railway is a good example of the sincere friendship between China and Africa and vowed to make joint efforts in running the railway.

During the meeting, the two sides also exchanged views on the situation in Ukraine.

Mr. Wang expounded China’s position on the issue.

Mr. Kakubo agreed that the conflict should be resolved through diplomatic negotiations and he expects China to continue to play a constructive role during the process towards peace.

He said China is willing to work with Zambia to strengthen strategic communication, deepen exchanges of governance experience, enhance mutual trust and expand practical cooperation in various fields.

Mr. Kakubo congratulated China on successfully hosting the Beijing Winter Olympic Games and spoke highly of China’s long-term contribution to the development of the African continent and its adherence to principles and justice in international affairs.

He said that the traditional friendship between China and Zambia was created and nurtured by the leaders of the two countries for generations which is worth cherishing, inheriting and promoting.

“China-Zambia relations have become a benchmark for China-Africa friendship and a model for South-South cooperation. China supports Zambia’s independent choice of a development path that suits its national conditions, and is willing to strengthen strategic communication between the two sides, deepen the exchange of experience in state governance and administration, enhance mutual trust between the two sides, and expand and deepen practical cooperation in various fields,” he said.

Mr. Wang Yi said that since last year, bilateral trade between China and Zambia has grown against the trend, and key projects have continued to be put into operation.

“The two sides should make persistent efforts to strengthen cooperation in traditional fields such as mineral development, and expand cooperation in emerging fields such as modern agriculture, processing and manufacturing, and renewable energy.”

He said China welcomes more high-quality products from Zambia to enter the Chinese market, supports more Chinese enterprises to invest and start businesses in Zambia, and contributes to the independent development and industrialization of Zambia’s economy.

Mr. Wang Yo hoped that Zambia will create a good business environment for Chinese enterprises.

He said China will continue to provide support within its capacity for Zambia’s economic and social development, continue to provide COVID-19 vaccines according to Zambia’s needs, and strengthen cooperation in medical care and people’s livelihood.

Mr. Kakubo spoke highly of China’s long-term contribution to the development of the African continent and its adherence to principles and upholding justice in international affairs.

21 COMMENTS

  1. I have read the article and still dont understand the purpose of his visit apart from kissing a$$….we need to look for better incentives to lure investors apart from giving them preferential tax breaks, the Chinks done pay well come with their own labourers and pollute the local area. In other countries you dont just turn up with a big sack of money you have to learn the language and basic customs. Institutions like Evelyn Hone UNZA and CBU would do with extra income from night schools.

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  2. The upnd criticised zambias relationship with china because the western imperialist gave them false promises during campaigns. Now reality has struck. The muzungu has no incentive to fund you, so you run to the same China you turned your back on. I now understand what my president ecl meant by the word hypocrites

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  3. The upnd criticised zambias relati0nship with chlna because the western imperlalist gave them false promises during campalgns. Now reality has struck. The muzungu has no incentlve to fund you, so you run to the same Chlna you turned your back on. I now understand what my president ecl meant by the word hyp0crites

  4. The upnd crlticlsed zambias relati0nship with chlna because the western imperlalist gave them false promises during campalgns. Now reality has struck. The muzungu has no incentlve to fund you, so you run to the same Chlna you turned your back on. I now understand what my president ecl meant by the word hyp0crites

  5. This meeting could have been held virtually … we still don’t have an ambassador accredited after the recall last year of the then Ambassador

  6. This is why you have the likes of dumb chaps like Bowman writing to the IMF to request details of agreements …Kakubo has gone to China to renegotiate loans or some kind of restructuring …what you forget is that China is close to Russia and two weeks ago you voted against that country to appease the West. This is another reason why I stated that we abstained from that voting process.

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  7. No Corruption Zambia – If you have $50,000 to invest now you can enjoy those tax benefits…I feel there is need to review our incentives to foreign investors I remember that silly boy Anthony Mwitwa proudly pitching to investors in a hall in Germany telling them we will give you 5 year tax break then after 5 years just register another new company and apply for new tax break.

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  8. WE HAVE LEARNT NOTHING DESPITE 10 YEARS OF MISSMANAGEMENT
    NO TAX INCENTIVES FOR NOW THE CHINESE ARE GETING MORE OUT OF OUR COUNTRY THAN THEY ARE GIVING US
    WAKE UP

  9. For us who are old enough remember how “backwards” China was. We used to laugh at anyone wearing Chinese products. Even their washing powder was so poor that it never foamed. Bathsoap was even worse as it gave you scarbies. A few decades down the line we are still a laughing stock while China has become a worthy competitor with the USA and other economical powers.

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  10. PF cadres before u yap! Remember China is where u borrowed all you money from. Don’t you think Kakubo went to renegotiate date as you can hear in his ass leaking speech. It was more of a “we know our former panga family over borrowed like monkeys, now we are sober people, pls pardon half of our debt”. And not your misinformed judgement you cadrs above are saying.

  11. UPND are hypocrites. In opposition they opposed China Suddenly these guys have become great investors. I must say even PF acted similarly.

  12. This is the hypocrisy that former president dude was talking about at RB’s funeral. You say this, but you do other things. How suddenly has China become a partner when you vilified them day in day out?

    What tax policy does Zambia have on all investors. Why must Chinese get special treatment? The New Dawn govt is about one law for all, foreign investors to be treated equally devoid of corruption. Has it dawned or we are still in the pitch darkness of past years?

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  13. Take care of all investors, local and international. Put it in the constitution so it’s harder for Mmembe to change in 2026.

  14. Zambia cant avoid China cause of the huge debt contracted by the PF .
    Key national assets such as ZESCO, ZNBC, and the airports KKIA and SMKA are trapped under Chinese loans.
    The UPND have to treat China with kid gloves.
    Countries like Sri Lanka , Djibouti and Uganda know well not to play with China.
    They will just grabs those assets.

  15. Machia Velly – You owe the Chinks a lot of money when we (neutrals) were telling that Fossil Chikwanda that this borrowing was reckless and unsustainable he called us lunatics look where we are today. Chikwanda and Lazy Lungu are enjoying life and their loot.
    The Chinese have you by the balls ..its like a late Parent leaving estates but still had huge outstanding debts with the Commerical bank…you simply can not ignore that bank even HH7 fears talking about the Chinks or the debts associated with them.

  16. #18 Yes we owe them plenty of dough but in their fantasy campaigns the Upnd had promised the opposite of what they are doing vis a vis the Chinese.

  17. “Zambia will continue to provide Chinese enterprises with a stable business environment and preferential tax policies” ….What will China provide a Zambian businessman let alone a tradesman as incentive? And this should be in consultations with Minister for Commerce, Ministry of Finance because ‘tax’ issues are revenue to GRZ such that preference equals loss….

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