Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Africa ripe for investment opportunities, say Shanghai experts
+ -
09:31, September 29, 2009

 Related News
 Sinochem to acquire Australia's Nufarm
 Sinopec, BASF expand YPC project
 China's MOC sets conditions on GM-Delphi deal
 China continues anti-dumping measures on some imported PVC
 Central African countries to intensify co-op against global crisis
 Comment  Tell A Friend
 Print Format  Save Article
Inspired by China's economic growth despite the global financial recession, African countries have reached a consensus to learn and benefit more from the robust economy.

A delegation with representatives from nearly 40 African countries, and two international organizations - the Africa Development Bank and the League of Arab States - attended the Touchroad China-Africa Invest Forum in Shanghai Monday. The forum focused on opportunities and challenges of investing in Africa.

Many people stereotype Africa as a piece of underdeveloped land, plagued by poverty, disease and violence, but He Liehui, founder of the forum, objected to such labelings.

"It is far from being the truth if you know enough of the continent. There are lots of misunderstandings there. Not all countries in Africa are poor, and some nations' GDP per capita is higher than that of China," he said.

Actually, many Chinese companies have noticed the opportunities in the resource-rich continent and invested extensively there. Chen Jian, vice-minister of commerce, said China has invested in 49 African countries.

"Since bilateral trade volume exceeded 10 billion U.S. dollars in 2000, the annual growth rate averaged 32 percent, and last year reached a record high of 106.8 billion dollars," Chen said.

As one of the most economically active cities in China, Shanghai has apparently sensed its opportunities. Zhao Kangmei, deputy director with Shanghai Municipal Commission of Commerce, said in the first eight months this year, 28 percent of the new overseas projects Shanghai signed came from Africa.

During the forum, several African officials served as spokespeople for their homeland. General Pape Khalilou Fall, ambassador of Senegal, said their country has a healthy and competitive economy.

"Senegal provides good human resources, complete banking service, Internet and telephone service, as well as a good legal framework," he told China Daily.

"We welcome investment in all sectors, telecommunication, infrastructure, fishing and agriculture, etc. But more importantly, as the Chinese saying goes, 'Don't give me a fish, but teach me how to fish,'" he said.

"In addition, Senegal is a gateway to 15 countries in West Africa, so investment there means great opportunities in the other 53 African countries," he added.

The nonprofit forum of Touchroad China-Africa Invest was first held in March 2008 with 18 nations participating. Many delegation groups had reached deals on site, He said.

"Sure we will continue the forum next year and build it into a highly efficient Sino-African trade platform, and through the platform we try to boost the friendship and economic ties of the two sides to a new high," He said.

Source: China Daily




  Your Message:   Most Commented:
Indian media stinks up public opinions
Which country has the most beautiful women?
World's top ten most mysterious and horrible spots
How do India's middle school textbooks portray China?
China denies entering other countries' airspace

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/90857/90861/6772358.pdf