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Sino-Africa convention
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Africa welcomed investors and construction contractors from Hangzhou, according to sources at the Sino-Africa Investment and Cooperation Convention held in the city .
The three-day convention is hosted by the International Trade Center of the United Nations, China Council for the Promotion of International Trade, Sino-Africa Development Foundation and Hangzhou government.
鈥淭here are rich energy resources in Mozambique, however, our infrastructure is not complete, so we welcome foreign investors to invest in our infrastructure,鈥 said Sambo, a participant at the meeting.
鈥淭here are 7.7 million hectares of land resources in Zambia, and the country welcomes Chinese enterprises to set up large industrial parks there,鈥 said Perry Mapani from Zambia.
By the end of last year, there were 27 projects from Hangzhou in Africa with a total investment of US$60.69 million, covering electronics, agriculture and water affairs.
In 2015 the investment from China in Africa was US$180 billion, and in 2025 it is estimated to reach US$500 billion. So, there is a huge potential in the continent, especially in the areas of processing of agricultural products and light industries, according to Sun Yuan from McKinsey.
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