China and Zambia are to establish a working group mechanism to promote investment through a corporation in certain sectors, including the digital economy and green development for greater exports from the African country.
This was agreed to during a recent visit by Zambia’s President Hakainde Hichilema on a recent visit to China.
Following deliberations with his counterpart, President Xi Jinping,a joint statement said the two heads of state will strengthen the development of economic zones in Zambia and support the upgrading of those zones into major industrial areas.
The enhancement of supply chain capacity was mentioned as an integral part of the mooted investment corporation.
Jinping’s administration committed to support Zambia’s investment promotion activities in China for the relevant zones.
Beijing also said Zambia is welcome to continuously participate in the China International Import Expo.
This year’s expo will be held in the Chinese capital from 5-10 November.
Xi and Hichilema agreed to designate 2024 as the Year of Business Cooperation.
Source: Freight News
