Chinese, Zambian Firms Meet to Discuss Investment in Energy Sector

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Representatives of 14 Chinese enterprises on Tuesday gathered in Lusaka, the Zambian capital, with their local counterparts to explore investment opportunities in the energy sector, Azernews reports, citing Xinhua.

They were meeting at a seminar on China-Zambia energy cooperation, which was organized by the Association of Chinese Corporations in Zambia in conjunction with the Chinese Embassy.

Du Xiaohui, the Chinese ambassador to Zambia, said China will adhere to the principle of extensive consultation, and beneficial cooperation in the energy field with countries participating in the “Belt and Road Initiative” and support more countries to accelerate the development of energy industries.

China has always been an ideal and reliable cooperating partner of Zambia in the energy sector, he said, adding that the joint efforts of all parties will provide green, sustainable and strong impetus for the high-quality development of cooperation between the two countries.

Du said China is willing to tap its technology and experience in clean energy development and utilization to deepen practical cooperation with Zambia. He expressed optimism that the authorities in Zambia will introduce more affordable, convenient and industry-friendly policies to facilitate cooperation between the two countries.

Du urged local firms to utilize the seminar to attract Chinese companies with strong capital, strength and superb technology to promote win-win cooperation.

The Chinese envoy expressed satisfaction that economic and trade cooperation with Zambia has taken root with relevant projects blossoming in different parts of the southern African nation.

Zambian Minister of Energy Peter Kapala said the seminar has come at the right time when the government is on a marathon program of strengthening the energy sector through various policy pronouncements.

He said the event has provided an opportunity to attract new investments as well as consolidate efforts between the two countries in flourishing investment and technology transfer for increased access to sustainable energy.

The government is open to various bilateral and multilateral development cooperation such as China-Zambia energy cooperation in various energy subsectors, the minister said.

Zheng Chao, executive vice president of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, which organized the Chinese entrepreneurs’ trip to Zambia, said they had a better understanding of Zambia’s latest investment and cooperative policies and explored ideas on potential cooperation opportunities after the trip. He added that China has become the world’s largest renewable energy market and equipment manufacturer as well as a major global force in green and low-carbon transformation.

Source: azernews