CHINA STILL ZAMBIA’S BIGGEST INVESTOR
CHINA has created over 50,000 jobs in Zambia in the last ten years with an accumulation in investment worth over US$2.9 billion, Defence Minister Davis Chama has said.
Speaking when he officiated at the 68th anniversary of the National Day of the People’s Republic of China, which was graced by First Republican President Kenneth Kaunda on Thursday, Mr Chama said that Zambia and China enjoy warm and cordial relations.
He said that statistics had proved that China was one of the largest investors in the Zambian economy with an accumulation on investments worth US$2.9 billion.
Mr Chama pointed out that with over 500 Chinese companies operating in the country, more than 50,000 jobs had been created in the last ten years.
He outlined that some of the notable companies included Huawei, Bank of China, AVIC International, China Henan Construction Company and China Geo-Engineering Corporation among others.
Mr Chama also said that the people of Zambia would never forget historical projects such as the TAZARA railway line, which had become a monument of friendship between the two countries.
“Owing to the foundation laid by our founding fathers, and the commitment of their Excellences President Edgar Lungu and President Xi Jimping, the relations have continued to grow from strength to strength,” he said.
Meanwhile, Chinese ambassador Yang Youming said that China had maintained social stability, sustainable and stable economic growth, which contributes more than 30 percent of global growth.
Mr Youming disclosed that in 2016, China’s GDP reached US$10 trillion, accounting for 15 percent of the world economy.
He expressed confidence that the Nineteenth National Congress of Communist Party of China, which would be held next month in Beijing world draw an overall and forward looking strategic plan for China’s development and foreign policy in the next five years.