Chinese investments in Zambia grew by 40% in 2009 despite the global recessio, according to Chinese ambassador Li Quingamin.
Li said this on Tuesday when a delegation of Chinese investors paid a courtesy call on the Zambian Minister of Finance Situmbeko Musokotwane in the capital Lusaka.
The Chinese envoy said despite the economic hardships the world had experienced last year, China had continued with its investment program in the southern African state, whose main foreign exchange earner is copper.
He said the total investments for 2009 were 40 percent higher than those of 2008, and this showed the confidence his country had in Zambia.
He said the investments totaling 1.2 billion US dollars had covered various sectors of the economy — including mining, construction and agriculture.
A total of 25,000 jobs also were created from the different ventures that were started and more jobs are expected with more investments expected in 2010.
Musokotwane said his government expected to be a prime destination in Africa for foreign investments because of the efforts the country had made to create a conducive environment for investors.
He urged the Chinese delegation to take advantage of its presence in the country and explore as many areas as possible for investments.
Source African Press Agency
African News from NetNewsPublisher.com
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