Huambo — Chinese group Huamhua Investment on Saturday began construction of Shoping Huambo, valued at US$12 million, to be considered a large shopping compound, ANGOP learned on site.
The first stone, which symbolizes the beginning of the works, was laid by the ambassador of the People's Republic of China in Angola, Zang Bin, in the presence of the deputy governor for Technical Services and Infrastructure of Huambo province, Elmano Francisco.
The development, to be built in two years in the former industrial zone of São Pedro, on the outskirts of the city of Huambo, will have 11 buildings, with a total of 390 shops, a front square and an apartment compound at the rear.
According to the technical sheet, it is a large-scale compound, which will also have areas for the sale of food products, decoration material and real estate, repair and auto parts, supermarkets, bank branches, commercial offices, restaurants, entertainment, leisure, among other services.
On the occasion, the Chinese ambassador to Angola, Zang Bin, said that the construction of Shoping Huambo demonstrates that both the Chinese and Angolan governments are committed to promoting mutual investment.
He was pleased that the China-Angola investment protection agreement comes into force today, an important milestone in relations between the two countries.
Zang Bin reaffirmed that China and Angola maintain close and friendly cooperation, as in the Angolan province of Huambo it has a strong relationship in the education sector, at a time when it seeks to deepen the field of infrastructure, with the Chinese state-owned company CR20.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
The diplomat promised to do everything to encourage, like the Huamhua Investment group, other Chinese companies to invest in Huambo province, a region with numerous potentialities.
In turn, the deputy governor for Technical Services and Infrastructure in the province of Huambo, Elmano Francisco, said it was a day of joy for witnessing an important milestone, not only for the lives of investors, but also for the local population.
'It is always comforting to realize that at this stage of the economy there are investors who can bring investments of this kind, with a range of services, after the celebration, on Friday, of the 10th anniversary of the Angola-China Friendship School, a significant factor in the cooperation between the two countries,' he said.
This is the first investment of its kind in the province of Huambo, located in the Central Plateau of Angola, with an estimated population of two million and 800 thousand inhabitants, distributed in 11 municipalities.
It is a region essentially focused on mineral extraction and agriculture, which represent 76 percent of its economic activity. ALH/DOJ
