Zambia gov't happy with increased Chinese investment: minister

LUSAKA -- The Zambian government on June 5 commended the Zambia-China Economic and Trade Cooperation Zone (ZCCZ) for its contribution towards increased trade and manufacturing sectors in the country.

Minister of Commerce, Trade and Industry Christopher Yaluma said the ZCCZ, which has established the Lusaka East Multi-Facility Economic Zone, has played a pivotal role in increased investment.

The establishment of the zone, he said, has seen an increased number of Chinese firms coming to invest in the zone.

In remarks delivered when he toured the zone, the Zambian minister said the investment of about 140 million U.S. dollars in infrastructure and production service facilities at the zone has resulted in increased trade and manifesting.

Zambia, he said, has made progressive strides towards attaining its industrialization agenda, adding that the setting up of industries by several investors was an indication that Zambia was heading in the right trajectory.

About 26 firms are currently operating in the zone and have invested about 26 million dollars.

The Zambian minister urged the proponents of the zone to continue expanding their operations, adding that the government has put in place good investment policies.

Hao Yafei, vice general manager at ZCCZ, thanked the government for creating an enabling environment for investment.