Zambia map

The agreement was signed between the Zambia Development Agency and a visiting delegation from Qingdao, according to a statement released by the investment agency.

Zambia mapMinister of Agriculture, Given Lubinda, who witnessed the signing ceremony, called on investors from the Chinese city to consider investing in different sectors of the country, not just the mining sector.

Lubinda said the Southern African nation requires diversification to enhance economic development, adding that Chinese investors could play a big role in the country’s economic diversification program.

Yang Youming, the Chinese Ambassador to Zambia, said the business delegation from Qingdao provides an opportunity for the business communities from the two countries to dialogue over cooperation.

The envoy hailed the bilateral economic cooperation between the two countries over the years.

Wang Wei, Qingdao Deputy Mayor, said companies from the city were serious with investment in Zambia and wanted to strengthen ties with Zambia.

Patrick Chisanga, head of Zambia’s investment agency, said two of the firms from Qingdao had started talks aimed at reviving a textile firm in central Zambia’s Kabwe town and a major tourism development in southern Zambia’s Livingstone city.

The 11-member business delegation also visited eastern Zambia to explore investment opportunities. Enditem

Source: Xinhua

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