The Times of Zambia (Ndola)

Zambia: Chinese to Invest in Country

editorial

THE commissioning of the multi-million dollar Chambishi Copper Smelter by President Rupiah Banda yesterday is proof of the resilience of Chinese investment in this country.

The ceremony yesterday was simply a fruition of earlier plans by the investors which were not scuttled even by the global economic crisis that saw a number of firms closing and retrenching workers.

The smelter, which will create more than 600 jobs, is a step towards the envisaged economic development seen with the establishment of the multi-facility economic zone in Chambishi.

Mines like Lumwana will now send their concentrates to be processed at the new smelter while others like Chambishi, Kansanshi and Chibuluma have already been sending their concentrates to the new smelter.

Development in the country hinges on the dependability of its investors who, despite the tides going against them, remain stable until the storm passes by.

For indeed had the Chinese investors baulked at the first signs of the recession, as did several other investors, we would not be witnessing the commissioning of the smelter which will process over 150,000 tonnes of copper per year.

What determines serious investments are the amounts of money pledged in any project and in this case, millions of dollars have been staked in the venture.

It just shows how serious and determined the owners of the smelter are because they are doing it to reap benefits in the future and not just immediately.

As the Government embarks on the development process of the country, the reliability of foreign direct investment is an important element as local investors and the Government may not have the huge capital outlays that go with investment of the magnitude of Chambishi Copper Smelter (CCS).

The creation of the 600-plus jobs at CCS is a sign that indeed the Government is managing to attract foreign direct investments.

We appeal to all Zambians to be supportive of this investment and desist from issuing inflammatory statements that incite hatred against a particular group of foreigners.

If there are any issues, be it labour-related or otherwise, let them be tabled before relevant Government bodies and ensure that everyone contributes towards further improving the relationship with foreign investors.


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