Beijing should consider Africa as profitable investment destination

---

XIAMEN, Sept 10 (CEIS): It is time for Chinese investors to go to Africa, a growing market where they can get promising profits, a senior official from Zambia said here.
Newly emerging economic powers of Asia such as China should consider Africa as a profitable investment destination, or they would feel regretted if they do not seize the opportunity, said Felix Mutati, Minister of Commerce, Trade and Industry of Zambia, at the International Investment Forum held in the coastal city of Xiamen, southeast China's Fujian Province.
Many African countries, sharing characteristics of an emerging market, are becoming more democratic and open, while trying to improve their administrative frameworks, the minister said.
Africa needs massive infrastructural projects, particularly roads, power plants, airports, and new mines to meet the demand of industrial development over the past decades, he explained.
"We would like Chinese people to build up factories in Zambia instead of simply selling commodities, so that we can develop ourselves," said Geoffrey Mwamba, executive chairman of GBM Group of Companies from Zambia, who came to China to seek business partners on shipping and cement production.
"There are some Chinese investors in Mozambique, but we want more to help us develop industries like agriculture, fishing, mining, construction, manufacturing, transportation and tourism," said Martinho Assane Muatxiwa, director of Tourism of Inhambane Province of Mozambique.