RB woos Chinese investors

This is a season for seeking investors as the two stories which appeared in the Times of Zambia show. The first story appeared in the newspaper on March 17, 2009:

President Rupiah Banda has implored Chinese investors in the energy sector to invest in the country saying Zambia's investment climate is favourable.
Speaking when a group of Chinese investors called on him at State House yesterday, President Banda said that investing at this particular time was appropriate as Zambia was experiencing a power deficit.
“Your intended investment to our country is very welcome. We welcome your presence because we have a great shortage of power in our country as well as this region,” Mr Banda said.
He said that the potential to invest in the energy sector was abundant in the country saying there was abundant water, coal, uranium, sunshine as well as human resources among others.
Mr Banda said that it was imperative that the Chinese invested in Zambia particularly in the face of the global economic crisis and the falling commodity prices.
“Your investment will provide jobs to our people and revenue,” Mr Banda said.
Commerce, Trade and Industry Minister, Felix Mutati said that he held meetings with the Chinese investors enlightening them on possibilities of exploring investment opportunities in the nation.
With the falling copper prices and some mining investors intending to leave, he said that the Chinese had been informed on the best sectors for investment as well as investing in the mining sector.
And Zhonghui Guohua Industry Group Company Limited chairman Wang Yaohui said that his organisations was in Zambia to assess the investment climate.
He said that for many years, China and Zambia had cooperated in many economic sectors citing the construction of the Tanzania Zambia Railways Authority (Tazara) as one area of cooperation.
Mr Wang said that China would continue offering loans at low interest rates to developing countries and Zambia would continue benefiting from the gesture.
And State Grid Corporation of China chief economist Du Zhigang said that in the face of the economic crisis, it was imperative that Chinese investors invested in Zambia. He said that toward the end of last year, his firm acquired prospecting licences in North–Western Province. He said that his organisation, which was one of the largest electricity firms in the world, would continue assessing the investment climate in Zambia.
Chinese ambassador to Zambia Li Qiangmin commended the Government for ensuring that the investment climate in the nation was favourable.
Meanwhile, two Chinese companies have shown interest in doing mineral exploration works in Mwinilunga district in North -Western Province.
Zhonghui Guohua Industry (Group) Limited and State Grid International Development made their intentions to invest in Mwinilunga during a meeting with Mines and Minerals Development Minister Maxwell Mwale and Mr Mutati in Lusaka yesterday.
Zhonghui Guohua Industry (Group) Limited was represented by its chairman Mr Wang while State Grid International Development was led by Mr Du who is also the chairman.
Mr Mwale said the Government was open to foreign investments and was happy to receive the two investors whom he assured of the support from the Government.
Mr Mwale said past exploration surveys indicated that North Western and Western provinces also had gas and petroleum.
He said the Government would this year advertise a block for would be developers in the petroleum industry in the country.
Mr Mutati said even if the country was not spared by the effects of the global economic recession, the Government had in this year’s national budget proposed major incentives that would boost the mining industry.
Director geological survey department at the Ministry of Mines and Minerals Development, Kennedy Liyungu said Mwinilunga has strong indication of mineralisation.