The Bank of China Zambia Limited says it is renewing its commitment to the Zambia Development Agency – ZDA to help promote Zambia as the ideal investment destination as bilateral trade between the two countries continues to increase.
Bank of China Managing Director Qi Wang says his bank chose Zambia as the first growth destination in Africa because of the stable political environment, great weather and the great hospitality of the Zambian people.
Wang notes that the bank has an international network in over 60 countries in the world, including China, where Zambian businesses can access funds for investment. He noted that the improved infrastructure development in transport and communication is creating an attractive environment for foreign direct investments – FDI.
The Managing Director reiterated that the bank of China has renewed its commitment to help promote Zambia as the ideal investment destination through programmes such as Forum on China-Africa Cooperation – FOCAC as the trade volumes between the two countries continues to increase.
Wang was speaking when his team paid a courtesy call on the Zambia Development Agency, in response to the call to work with the ZDA Chinese Desk for Joint Venture partnerships and trade.
“As both countries are agricultural nations, the Bank of China is committed to providing technological transfer in agriculture and manufacturing to reduce poverty in Zambia. We need to encourage Zambians to be more aggressive in promoting strategic products such as honey and services such as tourism to China during events such as the upcoming China International Import Expo” said Bank of China MD.
Meanwhile the Zambia Development Agency Acting Director General Matongo Matamwandi thanked the bank of China for paying a courtesy call on the Agency and for their support and commitment to Investment promotion in the country.
Matamwandi explained that he sees the Bank as an extended team of the Investment promotions of the ZDA. “We need the support of the bank in our follow-ups to actualise pledged investments through targeted pitches as a new strategic approach for the Agency,” explained the Acting Director General.
He revealed that ZDA is looking for Green Investments and Pioneer Industries such as investment into Nuclear Energy which can be exported into the region and earn Zambia the much needed Forex. The acting Director General pledged intercultural training for new Chinese Investors to help bridge the cultural differences and to also help Zambians learn international business cultural etiquette.
