About eleven Chinese companies plan to establish industrial plants in Lusaka with an initial investment of 1 billion United States Dollars.
Leading the delegation from China, Tianjin Federation of Industry and Commerce Secretary General Liu Daogan says Chinese companies have interest to invest in areas such bicycle assembly, the manufacturing of water pumps, ATM, and battery manufacturers.
Mr. Daogan says China plans to invest further in the next five years in an economic free zone, where firms will be exempted from some taxes such as customs duties.
He says Zambia has provided yet another opportunity for China to invest extensively in the country’s economy.
Mr. Daogan says Zambia should expect more of Chinese investment in various sectors of the economy due to conducive investment environment.
And President Lungu has expressed optimism that the two countries will strengthen and continue to enjoy excellent relations.
President Lungu says he will continue to provide an opportunity to Chinese and Zambian people to promote friendship, and engage in developing the country.
He says the industrial plants will provide a further spur to Chinese investment in the country.