On February 26, Four African Countries Investment Seminar, jointly sponsored by the CCPIT, the International Trade Centre (ITC) of the United Nations and Africa Development Fund, concluded successfully in Tangshan, Hebei Province. More than 200 guests including government officials and representatives from foreign mission of Ethiopia, Kenya, Mozambique and Zambia in China as well as domestic and foreign companies attended the seminar. Ambassadors and Officials from investment promotion agencies of the four African countries briefed the participants on the investment environment of their countries, policy advantage and investment projects while representatives from Chinese companies shared their experience on investing in Africa.

Ambassador of Ethiopia to China said that Africa could copy the successful experience of Chinese companies with a focus on developing as well as promoting export-oriented agricultural product processing industry. Local government’s financial support and Chinese companies’ technology transfer would benefit both China and Africa and turn “Made in China” into “Made in Africa”. 

Kenyan Ambassador to China said, light manufacturing and agricultural product processing are the most important industries of China-Africa cooperation. Kenya is speeding up the opening-up of the investment field and has put forward more preferential policies. Kenya will introduce new rules and regulations catering to the needs of Chinese enterprises this March. More preferential treatments to special economic zone investment will be granted to reduce the operating cost of Chinese companies, including ten-year tax-relief, corporate tax as low as 10%, investment project subsidies and etc. Special Assistant to President of Huajian Group Li Weiming, Chairman of Lantian International Construction Group Zhang Zhaohui, Chairman of Hubei Hefeng Grain & Oil Group Zhou Mingzhao, Chairman of Jilin Overseas Agricultural Investment Group Yao Yunwu and etc. shared their successful investment experience in Ethiopia, Kenya, Zambia and Mozambique.

Jiang Xuejun, head of the ITC, said in his concluding remarks that although over 2000 Chinese companies invest in Africa now, the African market still has great potential. The transition, upgrading and industrialization process of African countries provide huge opportunities for Chinese enterprises to invest in Africa. He hoped that China and African countries could develop closer trade and investment cooperation and set examples for South-South cooperation in the new age.

Shan Ming, the official from International Development Department of the U.K. said, the seminar was a great success and achieved expected goals. The detailed introductions of the four African countries’ investment environment and promotion as well as Chinese companies’ strong interests in investing in Africa left deep impressions on the participants and demonstrated the large scope for China-Africa investment cooperation. It was expected that the cooperation and exchanges between the two sides can be further enhanced so as to propel Chinese companies to go to Africa and boost Africa’s industrialization level. 

The seminar was jointly sponsored by the CCPIT, the ITC and Africa Development Fund and organized by Hebei Sub-council of the CCPIT and the People’s Government of Tangshan. The two-day seminar focused on two special sessions of manufacturing and agricultural product processing and aimed at promoting China-Africa production capacity cooperation and project matching of companies from both countries, advancing investment in Ethiopia, Kenya, Mozambique and Zambia and assisting small and medium African companies to integrate into the international industrial chains of manufacturing and agricultural product processing.