By JULIUS PHIRI –
A BUSINESS delegation from Quingdao Province in China has signed a two-year Memorandum of Understanding (MoU) with the Eastern Province administration to scout for more investment opportunities in various sectors.
The 11-member delegation is in search of prospects in energy, mining, textiles, agriculture and tourism in Eastern Province.
Eastern Province Permanent Secretary Chanda Kasolo signed on behalf of the provincial administration while Quingdao Bureau of Commerce deputy director general Xianli Chunyu signed on behalf of the delegation.
Speaking at the signing ceremony, Mr Kasolo said Zambia and China had strengthened their relationship in a number of business opportunities dating back to the 1970s.
Mr Kasolo said the provincial administration was proud of the Chinese cooperation in a number of areas.
“Invest in all areas like mining, and the province has the presence of coal in Nyimba and Petauke while Katete District has limestone which is good for cement production,” he said.
Mr Kasolo said precious stones were also found in Petauke and Lundazi districts.
He said it was unfortunate that despite being an agricultural area, the region was lacking agro processing plants.
City of Quingdao deputy mayor Wei Mang said China valued the relationship that existed with Zambia.
Mr Wei said there was need for Zambia and China to continue co-existing in various sectors of the economy for the benefit of their citizens.