Chinese overseas investment not a concern: Zambian VP

LUSAKA, March 3 (Xinhua) -- Chinese presence in Zambia should not be a source of concern, and the Southern African nation should welcome Chinese investment, Zambian Vice President Inonge Wina said Friday.

Wina made the remarks when she answered questions in parliament from some lawmakers who expressed concern over China's growing presence in the country.

Zambia, like other countries, should not be left out of China's overseas projects, but should instead welcome the investment, Wina noted.

She further said that some Chinese presence in the country was a response by Zambia to the Chinese government's offer during the 2015 Forum on China-Africa Cooperation (FOCAC) Summit.

In December 2015, Chinese and African leaders attending the FOCAC Summit held in South Africa signed an action plan to strengthen China-Africa cooperation and promote the development of Africa in the next three years.

China offered 60 billion U.S. dollars of funding support to ensure the implementation of the package of programs, which covered various areas including industrialization, agricultural modernization, financial services, green development, poverty reduction and others.

Yang Youming, Chinese ambassador to Zambia, said Zambia was better placed to gain from those economic cooperation plans due to the country's stable and peaceful environment.

At a dinner hosted by the Barclays Bank of Zambia to celebrate the Chinese New Year, the envoy said Chinese banks and other international financial institutions were encouraged to establish physical presence in Africa with an aim to open up new financing models for the region. Enditem