China essential to the Zambian economy-PSDA


CLAIMS by Democratic Front president Miles Sampa that Zambians have not benefited from Chinese investment are not correct and totally misleading, says Private Sector Development Association (PSDA) chairperson Yusuf Dodia.

Mr Dodia said foreign investment especially from huge economies such as China was essential to the Zambian economy.

Mr Dodia said there was need for politicians to avoid making inflammatory statements which could damage the economy.

Reacting Mr Sampa’s statement suggesting that Zambia has not benefited from China in terms of investment, Mr Dodia said such statements, especially from immature politicians, could harm the economy.

“We must be very careful that people are not politically misguided for merely wanting to make popular statements at the risk of damaging the economy.

“Especially when these kind of inflammatory statements are coming from immature politicians; people who have not looked at the bigger picture and the future of Zambia,” he said.

He said China was one of the few countries registering a GDP growth of 10 percent and above for the last 20 years.

Mr Dodia said China using its technology and skills being passed on to Zambians had moved from one of the world’s poorest countries in the 1950s to become the largest producer of goods and services in the current decade.

“So any leader who feels that the Chinese people cannot contribute to the economy is obviously somebody who is not looking at the best interest of Zambia and he is not looking at what is happening in the world.

“The Chinese are the ones doing a lot of infrastructure development in Europe and even in North America,” he said.

Mr Dodia said the challenges Zambia was facing were mainly due to the current rules and regulations which had to be looked at very critically.

“The most important thing to recognise is that Zambia needs foreign investment; this brings technology to Zambia, skills to the Zambian people and capital to the Zambian economy.

“The world’s largest producer of equipment and largest holder of foreign reserves and foreign capital is the China; so the Chinese investing in Zambia are bringing in a way of working that has made them successful in their own country,” he said.

Categorized | Business

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