Economy

Zambia Aims to Boost Chinese Investment

Speaking today during a business summit in Lusaka with the Visiting Chinese Minister for International Development, Vice President Guy Scott said that Zambia is looking for help from developed countries to resolve its unemployment problems.

Dr Scott said advanced countries, such as the Peoples’ Republic of China, can help to create jobs for local Zambians, especially those among the youth with the highest rates of unemployment.

The visiting Chinese functionary, Mr. Wang Jiarui, welcomed Mr. Scott’s invitation, and said that China would be pleased to play a greater role in the Zambian company, but only if conditions are met to allow and encourage more Chinese companies to invest in the country.  These conditions, presumably, would relate to the number of foreign workers they would be allowed to bring in, tax incentives, and other guarantees over the sanctity of contracts given recent expropriations.

The ruling Patriotic Front’s pro-China policy represents a 180 degree turn from their campaign rhetoric, wherein Michael Sata invoked nationalist and populist sentiment to “kick out” the “foreign infestors” such as the Chinese – which is also believed to have gained the party support from the U.S. State Department for their controversial anti-corruption campaign.

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