Zambia has signed 18 Memorandum of Understandings (MoUs) with Chinese companies, totaling over one billion United States Dollars, in various areas of cooperation.
The signing ceremony which is aimed at promoting cooperation occurred during the official opening of the China-Zambia High-Quality development forum in Lusaka that was officiated by President Hakainde Hichilema.
President Hichilema reaffirmed Zambia’s commitment for a continued partnership with China and other countries that results into sustainable development.
The President stated that such partnerships should be deepened by delivering obligations.
He noted that China and Zambia relations has created opportunities for economic development citing, reopening of 28 Shaft on the Copperbelt, support in infrastructure development and China’s input in Zambia’s debt restructuring.
The President said the forum is a path to resolution of the economic and social challenges.
The Head of State is expectant that the forum to deliver results and assist the country in its journey towards economic expansion.
“Beyond the forum, there should be more investments, joint ventures, partnerships, value addition and increased economic transactions,” President Hichilema said.
President Hichilema stressed the importance of Social Corporate Responsibility which has potential to create job opportunities especially for the youth.
President Hichilema reaffirmed his commitment to double the size of Zambia’s economy.
“Ours as senior government officials is to build on these relationships, by delivering our obligations so that we can take this relationship to the next level for the benefit of our people,” President Hichilema said.
He also appreciated the announced support of the Chinese government towards drought disaster and emergency in the country.
Chinese Ambassador to Zambia, Xiaohui Du said the two countries have dedicated the year 2024 as the China -Zambia year of business cooperation, culture and tourism.
Ambassador Du noted that the forum is also an important step to implement the strategic partnership that exists between the two countries.
He noted that China remains ready to build on past successes by opening new avenues for high quality development that features innovation, technology and inclusive growth to meet the growing needs of the people.
Alliance of Chinese Business in Africa for Social Responsibilities Chunhe Diao said many Chinese enterprises have been investing and operating in Zambia, contributing to the bilateral cooperation.
Mr Diao added that the alliance will actively practice the principle of extensive consultation, joint contribution and shared benefits through an industrial corporation platform.
Minister of Commerce, Trade and Industry Chipoka Mulenga said Zambia has embarked on engaging in economic diplomacy by making sure Chinese companies do not only trade but set up investment in the country.
Meanwhile, Zambia Development Agency Director General Albert Halwampa said Zambia has witnessed a good number of investors undertaking scoping exercise to invest in Zambia.
