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Home >> China
UPDATED: 08:22, April 18, 2007
Interview: Zimbabwean deputy speaker urges more Chinese investment
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A top Zimbabwean official Tuesday appealed for more Chinese investment into the country, particularly in the mining sector which holds vast potential.

Parliamentary Deputy Speaker Kumbirai Kangai, in a recent exclusive interview with Xinhua, said Zimbabwe had vast untapped mineral reserves, and wanted China to help it unlock their economic value.

He said Chinese investment in Zimbabwe, in particular in the mining sector, would help the country break the existing economic stranglehold of the West on the southern African nation.

"We would appeal to the Chinese government to come in full force to exploit these minerals," Kangai said.

"It is important that the Chinese should come and exploit these minerals," he added, dismissing fears Chinese investors could expose themselves to legal suits if they took over mining claims held by Western companies.

He said Zimbabwe's mining laws were being changed to allow the government to re-allocate mining claims which were not being exploited.

Several Western companies hold vast mining claims in Zimbabwe, but few are exploiting these in part due to the unstable economic situation in the country.

"They (existing claim holders) cannot claim because they have been ineffective. We would like them (Chinese investors) to come," Kangai said.

He said Zimbabwe would prefer Chinese investors, to Western ones, because their investment terms were normally mutually beneficial.

Source: Xinhua


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