CHINA STILL ZAM­BIA’S BIG­GEST IN­VESTOR

Daily Nation Newspaper - - HOME NEWS - By AARON CHIYANZO

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.

Davis Chama

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