Friday 24th November 2017

83 percent of projects are done by Chinese companies – Mulusa

Government has disclosed that China holds the largest contracts in the infrastructure sector amounting to about 83 percent.

National Planning and Development Minister Lucky Mulusa says over 10 years from 2011 to 2021, Zambia is envisaged to spend about US$20 billion of which 83 percent will be undertaken by Chinese companies.

And Mr. Mulusa says in as much as Zambia has enjoyed the relationship with China, there is need to fine-tune to make sure that beneficiation is not skilled towards one partner against the other.

Speaking during the China-Africa Trade Development and Impacts Dubbed: Case of China-Zambia relations Policy Consultative Forum, Mr. Mulusa says it is important to learn how Zambia can learn from her relationship with China especially in terms of enhancing its productive capacity to grow and nature the investment in a manner that reduces stress on the repayment obligations.

Mr. Mulusa says there is need for China and Africa to establish a common platform such as a Sino-Africa stock exchange through which investment vehicles, companies and equity options offered.

He says in order to prevent a potentially divisive scramble for Chinese financial resources among African countries.

And Chinese Ambassador to Zambia Yang Youming says China enjoys the bilateral economic exchanges it has with Zambia.

COMMENTS Connect with Open Zambia and have your say