Wednesday, May 22, 2024

China-Zambia Ink 18 MoUs Worth USD 1 Billion

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Zambia has signed 18 Memorandum of Understandings (MoUs) with Chinese companies, totaling over one billion United States Dollars, in various areas of cooperation.

The signing ceremony which is aimed at promoting cooperation occurred during the official opening of the China-Zambia High-Quality development forum in Lusaka that was officiated by President Hakainde Hichilema.

President Hichilema reaffirmed Zambia’s commitment for a continued partnership with China and other countries that results into sustainable development.

The President stated that such partnerships should be deepened by delivering obligations.He noted that China and Zambia relations has created opportunities for economic development citing, reopening of 28 Shaft on the Copperbelt, support in infrastructure development and China’s input in Zambia’s debt restructuring.

The President said the forum is a path to resolution of the economic and social challenges.The Head of State is expectant that the forum to deliver results and assist the country in its journey towards economic expansion.
“Beyond the forum, there should be more investments, joint ventures, partnerships, value addition and increased economic transactions,” President Hichilema said.

President Hichilema stressed the importance of Social Corporate Responsibility which has potential to create job opportunities especially for the youth.

President Hichilema reaffirmed his commitment to double the size of Zambia’s economy.
“Ours as senior government officials is to build on these relationships, by delivering our obligations so that we can take this relationship to the next level for the benefit of our people,” President Hichilema said.

He also appreciated the announced support of the Chinese government towards drought disaster and emergency in the country.

Chinese Ambassador to Zambia, Xiaohui Du said the two countries have dedicated the year 2024 as the China -Zambia year of business cooperation, culture and tourism.

Ambassador Du noted that the forum is also an important step to implement the strategic partnership that exists between the two countries.

He noted that China remains ready to build on past successes by opening new avenues for high quality development that features innovation, technology and inclusive growth to meet the growing needs of the people.

Alliance of Chinese Business in Africa for Social Responsibilities Chunhe Diao said many Chinese enterprises have been investing and operating in Zambia, contributing to the bilateral cooperation.

Mr Diao added that the alliance will actively practice the principle of extensive consultation, joint contribution and shared benefits through an industrial corporation platform.

Minister of Commerce, Trade and Industry Chipoka Mulenga said Zambia has embarked on engaging in economic diplomacy by making sure Chinese companies do not only trade but set up investment in the country.

Meanwhile, Zambia Development Agency Director General Albert Halwampa said Zambia has witnessed a good number of investors undertaking scoping exercise to invest in Zambia.

18 COMMENTS

  1. Where is USA & UK who put these guys in power to give billions hey? They insulted & condemned the previous regime on Chinese connections, but look now. Bwafya, it is easy to condemn a soccer player on the field but let them put you there & see. Kaya cry my beloved nation.

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    • Imwe Ba PF, you used that money to buy Zebras. CDF was 1 million, in some places it did’nt exist at all.

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    • Zambians have a short memory, especially tu pf. Remember what Sata said when he was in opposition? He said he was going to chase away the Chinese from Zambia. People clapped but when pf came to power, the Chinese became their best partners in crime.
      HH did not say he was going to do the same.UPND was concerned about the dirty deals with some Chinese companies like AVIC which got all big the tenders from the corrupt pf government.

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  2. Chipante pante Government…looks like HH has run out of ideas…he’s been signing MOUs for the past 3 years….talk is cheap…in opposition HH had a big mouth now he doesn’t even know how to count from 1 to 3…..

  3. Because of the great leadership of HH countries a lining up to do business with Zambia.
    Yesterday it was China the day before it was Japan, it is not them, you have companies from the UAE, USA, Sweden, Germany, UK, the EU and Turkey, very impressive.
    HH has global credibility, something Zambia leaders has lacked for a very long time.
    He is the consummate businessman

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  4. The Chinese have accecabate our corruption problem in Zambia and Africa in general. From acquisition of land to mining rights and big government deals. We worry about corrupt traffic cops and rightly so, but we are giving away the birth right of our children wit our eyes open. In 20 year a lot of these Chinese tycoons will become naturalised or zambian born citizens, join our politics and firmly get entrenched, both economically and politically. My suggestion is to limit dual citizenship only to those nationalities which offer the same to Zambians leaving in those foreign countries. It has to be reciprocal.

  5. We just read big figures on paper.
    What comes is a fraction of it.
    The rest remains in pledges.
    If All this money was coming
    Dollar rate would not have been what it is today.

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  6. ……….

    The dynamics of the Zambia China relationship has changed drastically, from……..

    Zambia begging China……..China giving handouts……..with China winning in the long run, to……..

    Zambia insisting on value addition and manufacturing in zambia………China moving more manufacturing to zambia

    It is a win for zambia

    Now look at some people above…….ati “…now looking east …” ???

    Zambia has always looked east, but not for begging while China undercuts us in the long run………

    We are looking east but now for the benifit of zambia …….

    Forwadee 2031

  7. Why not sort out the present debt that China helped you to get into. They and the others changed you higher interest rates because you are higher risk that’s why you are were you at. These loans are already paid if you use the interest rate charged to other countries. Please do not fall for it again. Nothing comes out of it other than debt or you wouldn’t be needing them and the others for it seems for everything. Train your own people. Do the work yourself higher experts for fix jobsh training for your people so there’s less dependant on them.

  8. 60 years after independence and we are still struggling to feed ourselves……we should be ashamed of ourselves….we still struggling with Electricity and Sanitation and Water and someone is saying Zambia is developing….and when they call us “shiiiitthole countries ” we get upset

    • Who told you that Zambians can’t feed themselves? That’s an insult. The only issue that I have with the majority of Zambians is their total dependence on Nshima.
      This season has exceptionally affected a lot of countries in Southern Africa due to drought. Instead of trying to change the diet, you are busy crying like babies.

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  9. I thought the President didn’t have any time for China! What has changed since he became President? I suppose reality has set in! Strange how life works.

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  10. It starts again; another China Debt MkII, disgu!sed and dre$sed as ‘MoU’. Same thing, just different players. Nothing has changed from PF and Lungu to UPND and Hakainde! What a failed project this thing called Zambia!

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  11. By implementing these economic development strategies, Lusaka will position the city for inclusive and sustainable growth, improve the quality of life of its citizens and play a leading role in the economic development of Zambia.

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