Zimbabwe: China on Massive Investment in Country
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 Published by the government of Zimbabwe |
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The Herald (Harare)
29 August 2008
Posted to the web 29 August 2008
Harare
China is embarking on massive investment in Zimbabwe's mining, agriculture and aviation sectors as part of its efforts to assist the country and further strengthen relations between the two countries, Chinese Ambassador to Zimbabwe Mr Yuan Nansheng has said.
He said China, through the Sino-Africa Co-operation, continues to help Zimbabwe in these sectors which are key to the development of the country.
Mr Yuan said the Chinese government would soon start the projects under the US$100 million Sino-Africa Co-operation Fund.
He said under the projects, funded through the Chinese Development Bank, China would assist Zimbabwe in increasing capacity in the mining industry, particularity steel manufacturing at Ziscosteel through a joint venture firm, Sino Steel Zimbabwe.
"We want to increase capacity in the mining sector as well as construct an agricultural demonstration centre on the outskirts of Harare," Mr Yuan said.
He said the centre would train farmers and agricultural students to enhance and support Zimbabwe's agra-rian reform programme.
The centre, he said, would be built at Gwebi College of Agriculture and would also showcase some of the modern irrigation and farming implements.
Mr Yuan also said the Chinese government would fund the construction of a large power plant in Harare to ease power shortages in the country.
He said the projects, expected to run into millions of United States dollars, would be commenced soon after representatives of the Chinese Development Bank in the country finalise the paperwork.
Mr Yuan said once completed, the projects were expected to contribute immensely to the turnaround of Zimbabwe's economy.
"Zimbabwe has a good agricultural backbone and these projects can contribute to the turnaround of the country's economy and enhance the already excellent bilateral ties between China and Zimbabwe," he said.
He reiterated that China would continue to support Zimbabwe to increase production capacity in industry.
China-Zimbabwe relations date back to the liberation struggle when China supported freedom fighters with arms to wage war against colonialism.
The Far East country has been a major international supporter of Zimbabwe following the stand-off between Zimbabwe and the European Union since 2003.
China, one of the world's fastest growing economies, is also Zimbabwe's largest trading partner and has supplied the country with buses and aircraft.
Mr Yuan yesterday hailed the ongoing Harare Agricultural Show, saying it was an event that exhibited Zimbabwe's agriculture prowess.
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"This is an event that shows how Zimbabwe is developing sectors such as agriculture and mining, among others," Mr Yuan said.
Read comments. Write your own.
I cannot seem to find anything on the creation or establishment of the Sino-Africa Cooperation Fund. Would someone be able to help me verify this as being something separate from the China Africa Development Fund which is actually $5bn and not $100m?
Hmmmm...Chinese Zimbabwe!! Has a certain ring to it doesn't it?
why coming to africa now, those guys are up to no good. i hope they are not gonna colonise mamma africa.
This post was deleted because it contravenes AllAfrica's commenting guidelines.
Zim needed this skind of investment long ago, don't look back deal with these chinise they wont let you down they will be there for you when need them. God bless i wish you the best this manna from heaven, a friend in need is a friend in deed they dont give you conditions when you need them they will be there for you.
Zim needed this skind of investment long ago, don't look back deal with these chinise they wont let you down they will be there for you when need them. God bless i wish you the best this manna from heaven, a friend in need is a friend in deed they dont give you conditions when you need them they will be there for you.
Zim needed this kind of investment long ago, don't look back deal with these chinese they wont let you down they will be there for you when need them. God bless i wish you the best this manna from heaven, a friend in need is a friend in deed they dont give you conditions when you need them they will be there for you.This is your chance to prosperity go for thi chance go for it !
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They are certainly taking their time about it! I wonder why they have waited until Comrade Mugabe has his back to the wall? Is it possible that they do not want to burn their bridges with the party that they actually believe will in power soon enough?