China’s 2010 investment in Zambia tops $1b
Chinese direct
investment in Zambia exceeded $1 billion in 2010 and created more than
15,000 jobs, Zambia’s vice president said on Monday.
China has invested
billions of dollars into African states such as Zambia, the continent’s
biggest copper producer, hoping to secure the resources it needs to
fuel its booming economy.
Vice President
George Kunda, who met visiting Chinese Vice Premier Hui Liang Yu, said
he expects Chinese direct investment to top $1 billion again in 2011.
The recent signing
of an agreement with China’s privately owned Zhougui Mining Group will
attract more than $5 billion into Zambia’s mining sector over the next
few years, Mr Kunda said.
Leave a Reply