US$1bn Chinese investment pledge starts pouring into Lusaka

MORE than eight of the 20 Chinese manufacturing companies that pledged to set up shops in Lusaka have already started construction works at the 125-acre One Belt Industry Park on Mungwi Road.

The Chinese delegation of 20 top executives which visited Zambia a few weeks ago pledged an investment of US$ 1 billion.

A check at the site revealed earth moving equipment had been mobilised while workers were found erecting foundation stones and boundary fences.

Some of the firms which have started works are the Tiajan Kimmit Electronic Technology Company, with expertise in the production of electric bicycle instruments and sensors, The Auzias Biological Technology Corporation Limited, a hi-tech enterprise involved in research, the manufacture and sales of IVD reagents and medical laboratory equipment.

Others that have started construction works are Tiajin Haisheng Pump Manufacturing Corporation with expertise in the production of an array of pump such as high pressure plunger pumps and screw pumps and the Lu Wei Municipal Administration Construction Corporation limited.

Vice General manager of the One Belt and One Road International Physical Distribution Group Zhang Jian said in an interview that the construction works at the Industrial Park were on schedule and the manufacturing Firms will mobilise by next year in  March.

Mr. Zhang said the works at the Mungwi road site were a prelude to greater investment pledges made by private Chinese companies.

He appealed to the Zambian government to allocate a further 2000 acres of land to accommodate more Chinese firms that have shown immense interest in investing in Zambia following the successful visit of the Chinese business delegation a fortnight ago.

Mr Zhang also revealed that Zambia’s ambassador to China recently held a series of meetings with top Chinese business executives in Beijing and that an investment forum has been planned and slated for early next year.

Mr Zhanga said the Mungwi Road Industrial Park is limited in space and can only accommodate ten small scale firms.

He said the Mungwi Road Industry will be like a prototype for the bigger industry park.

Mr Zhang also appealed to Government to formulate more investor policies which would encourage more Chinese investment

“We expect to see more Chinese investment coming into Zambia early next year, thanks to the exploratory visit by the Chinese investment team which was here a fortnight ago and the engagement that the Zambian embassy has been having with the business community in China, specifically the Tianjin group of companies,” he said.

He said the One Belt One Road industrial Park was the first of its kind to be set up in Africa and was poised to be a model for more Chinese investments in Zambia.

Categorized | Business

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