Chinese companies exposed to investment opportunities in Africa
(Langfang-Geneva) - As part of the Beijing-Tianjin-Hebei International Investment and Trade Fair in Langfang, Hebei Province, China, the International Trade Centre (ITC) and the China Council for the Promotion of International Trade (CCPIT) on 7 September organized a half-day event to promote investment opportunities in Ethiopia, Kenya, Mozambique and Zambia.
The ITC event was part of the Partnership and Investment for Growth in Africa (PIGA) project, which supports agro-processing and light manufacturing opportunities in Ethiopia, Kenya, Mozambique and Zambia. Funded by the United Kingdom's Department for International Development (DFID), PIGA aim to increase inclusive and sustainable investments to drive economic growth, job creation and inclusive and sustainable development in Africa.
The half-day event provided an opportunity for Chinese companies and investors to learn about the investment climate and opportunities in selected African countries, and meet African companies participating in the PIGA project.
'Currently, China-Africa economic and trade cooperation has entered a new phase featuring better quality and efficiency,' said Mr. Yu Jianwei, Deputy Director-General of Department of International Relations of CCPIT. 'As the national trade and investment promotion organization, the CCPIT is ramping up its work to promote Chinese enterprises to invest in Africa with providing services. We will spare no effort to implement the eight initiatives which were put forward by President Xi Jinping at the 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC)'
Jiang Xuejun, ITC's Chief for Asia and the Pacific, said: 'The implementation of the PIGA project is conducive to the implementation of President Xi's initiative at the FOCAC Beijing Summit, which encourages Chinese companies to make at least US$10 billion of investment in Africa in the next three years.'
Further background information on the Partnership for Investment and Growth in Africa project: