Zambia-China Association Launched In Lusaka

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The Zambian and Chinese Governments have recently launched the Zambia-China Association in Zambia’s capital Lusaka, aiming at improving the relationship between Chinese investors and local businesses mainly in the mining sector.

Chinese Ambassador to Zambia Yang Youming, invited more Chinese investors to strengthen their confidence in Zambia despite the current challenges the African country is facing.

Chinese investors should make contributions that help to create a new business environment to support development, job creation and higher revenues in Zambia, Ambassador Youming stressed.

To reach these goals, the Zambia-China Association will have the responsibility of serving the interests of Chinese investors in the country and to strengthen ties with local people, he concluded.

The association’s establishment was needed due to the importance of the Chinese Government’s investments in Zambia which have so far represented an immense benefit and increasingly source of income to the country, explained Zambia’s Foreign Affairs Minister Harry Kalaba.

The Chinese Government’s help through development projects in Zambia totals to the date USD 2,801 million, while Chinese Foreign Direct Investment (FDI) has increased from USD 332.6 million in 2011 to USD 543.3 million in 2013 representing in average 30.0% of the total FDI inflows to Zambia.