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By Carolyn Ortiz,2014-07-22 02:50
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Chinese

    Chinese

ChineseInvestmentBuoys

    ;Africa,SEconomy

    ;AccordingtoXinhuaNewsAgency,athough ;Africaisadiversecontinent,containingavarietyof ;countriesandcultures,therepresentativesofAfri

    ;cancountriesdohaveonethingincommon:their ;desiretoattractChineseinvestment.

    ;“WelookforwardtOChineseenterprises’

    ;investments.ChineseinvestmenthelpsUStOfund ;theconstructionoftransDortationandmedical ;infrastructure,”BernadetteArtivor,executivedi—

    ;rectoroftheNamibiaInvestmentCenter,saidon ;September8.

    ;ArtivormadetheremarkattheHirLevel

    ;SymposiumforChinaAfricaInvestmentand

    ;Cooperation,aneventheldaspartofthe15th ;ChinaInternationalFairforInvestmentandTrade ;(CIFIT)whichopenedinsoutheastChindscoastal ;cityofXiamen.

    ;Thesymposiumwasheldtof0sterpartner- ;shipsbetweenbusinessesandgovernmentsfrom ;CH,!NA.’S

    ;bothChinaandAfrica,aswellas ;promoteinvestmentopportunitiesand ;addresschallengesthatmayhinder ;Chineseinvestment.

    ;Winwinsituation

    ;Asaresponsibleinvestor,China ;hasplayedavita1roleinthedevelop

    ;mentoftheAfricaneconomy,accord

    ;ingtothesymposm’m’sAfricanpartici—

    ;pants?

    ;“China~investmentnotonlyhelps

    ;withthegrowthofAfrica’Seconomy

    ;butalsogivesnewimpetustoitsdevel

    ;opment.Alongwithresourceexplora

    ;tioninAfrica,Chineseenterprisesalso ;helpwithlocalinfrastructureconstruc

    ;tionandlabortraining,”saidShen

    ;Danyang,aspokesmanforChina’S

    ;MinistryofCommerce.

    ;OcialstatisticsshowthatChina ;hasbuiltsixoverseaseconomicand ;tradecooperationzonesinfiveAfrican ;countries,includingZambia,Nigeria ;andMauritius,EgyptandEthiopia, ;withatotalofUS$328millionspent ;tobuildinfrastructureasoftheendof ;2010.

    ;Byt}1eendofthisyear,137Chi

    ;neseenterpriseswillhaveinvestedato

    ;talofUS$1.08billioninthesixzones. ;Businessvolumeispredictedtoreach ;US$3.5billion;thecompanieswill ;alsocontributeUS$119millionintax ;revenuesforlocalgovernmentswhile ;creatingabout10,000{obs.

    ;“WarewillingtohelpAfrican

    ;countriestrainworkers,asthiswill ;allowUStOcreateawin..winenviron.. ;ment,”LiLi,vicepresidentofthe

    ;ChinaInternationa1ferandElectric ;Corp.,saidafterthesymposium.

;“Capitalinfluxandtechnological

    ;importsbroughtinbyChinesecom

    ;paniesnowserveasastrongfounda

    ;tionforthesustainabledevelopmentof ;Africancountries,”saidLiuYingjun,

    ;deputydirector-generaloftheDepart- ;mentofOutwardInvestmentandEco

    ;nomicCooperationoftheMinistryof ;Commerce.

    ;“InthiswChina’senterprises

    ;alsogetmoreopportunitiestoexpand ;theiroverseasbusinessandpromote ;theirsalesinabroadermarket,’’Liu

    ;added.

    ;Long.termcooperation

    ;“Investmentactivitiesarequite

    ;differentfromcharity.Long-termco

    ;operation,thekeYtoinvestment,isalso ;thereasonforChina’ssuccess,’’said

    ;KandehK.Yumkella,directorgeneral

    ;oftheUnitedNationsIndustrialDevel

    ;opmentOrganization(UNIDO).

;ToboostChinaAfricainvest

    ;ment,Chinawillestablishabilateral ;cooperativemechanismthatwillextend ;financingchannelsandencourageChi

    ;neseenterprisestohelpAfricancoun

    ;triescreatemorejobs,aswellasbring ;aboutmoreexportopportunitiesand ;increasetaxrevenuesthroughinvest

    ;mentinvarioussectors,Liusaidatthe ;symposmm?

    ;ChinabeganinvestinginAfrica ;onarelativelysmallscaleinthe1980s. ;Bythe1990s,Chinahadstartedto ;graduallyexpanditsinvestmentsand ;extendinvestmentprojectstomoreat- ;easaroundthecontinent.

    ;Since2000,China’sinvestmentin

    ;Africahasincreasedrapidly,becoming ;morediverseeveryyear.

    ;Bytheendof2010,Chinahad

    ;investedaroundUS$40billioninmore ;than2,000enterprisesfrom50African

    ;countriesandregions.Thesecompanies ;coveravarietyotsectors,includingag

    ;riculture,mlnmg,manutactunngand ;finance.

    ;DirectinvestmentbyChineseen

    ;terprisesinAfricaamountedtoUS$2.1 ;billionin2010.anincreaseof46.8% ;overthepreviousyear,accordingto ;thestatisticsfromChina’sMinistryof

    ;Commerce.

    ;ChinaisnowAfrica’slargesttrade

    ;partner,whileAfricaisChina’sfourth—

    ;largestdestinationforoverseasinvest- ;ment.

    ;Improvingties

    ;somecountrieshaveexpresseduneasiness ;towardChina’sincreasinglycloserelationswith ;Africa,astheyfeelthattheirinterestsonthe ;ChineseAcademyofSocial

    ;Sciences.

    ;“Iamfairlycertainthattradingwith

    ;ChinaisbetterthanwithWsterncountries.since

    ;Chinaisnowrisingsoquickly.Chinaknowshow ;todevelopaneconomyrapidly.Oorrelationsare ;good,”MeyoAkoulouzeMaryse,anofficerwith

    ;theCamerounInvestmentPromotionAgency,said ;beforethesymposium.

    ;“China’sinvestmentinAfricaplaysanessen—

    ;tia1partinrebalancingtheglobaleconomy,”said

    ;AndreaGoldstein,headofGlobalRelationsatthe ;InvestmentDivisionofOrganizationforEconomic ;CooperationandDevelopment(OECD).

    ;Goldsteinsaidthatopendialoguesandcorn

    ;municationwillhelptoeaseothercountries’anxi—

    ;etiesaboutChina’sinvestmentinAfrica.@

    ;Cs

    ;

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