Zambian President Edgar Lungu inaugurates the Jiangxi Multi-Facility Economic Zone in Chibombo district, Zambia, Nov. 21, 2018. A consortium of Chinese firms will construct a Multi-Facility Economic Zone in central Zambia's Chibombo district, with President Edgar Lungu saying the project will go a long way in helping the country in its endeavor to ensure value addition to local products. It will cover 600 hectares of land, with an initial investment of 300 million U.S. dollars in the first phase which will create more than 5,000 jobs. (Xinhua)
CHINGOLA, Zambia, Jan. 17 (Xinhua) -- There is vast potential in Zambia's manufacturing sector for further cooperation with China, an industry group said on Tuesday.
Chinese enterprises could establish manufacturing plants in Zambia to help enhance economic growth in the southern African nation, said Fred Musonda, president of the Chingola Chamber of Commerce and Industry.
In an interview with Xinhua, Musonda said as China celebrates 70 years since the founding of the People's Republic of China and 55 years of cooperation with Zambia this year, exploring the vast potential of Zambia's manufacturing sector should anchor the relationship.
Acknowledging that China has been a strategic partner for Zambia in the development of various economic sectors, the official said that exploring the manufacturing industry will go along in value addition to the southern African nation's raw materials, a move which will steer economic growth and job creation.
Zambia has abundant natural resources that require value addition, which could be achieved through the establishment of manufacturing plants, he said.
According to him, Zambian enterprises have learned from participating in business fairs in China, such as the Canton Fair held last year, he said, urging local enterprises to emulate the work culture of Chinese businesses in order to achieve the much needed development.
The official said Zambian enterprises should take advantage of various trade fairs held in China each year in order to learn from China's economic culture.