Risks and prospects for investment in Africa
- By Gong Yingchun
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E-mail China.org.cn, May 31, 2013
The China-Africa Investment Forum, themed "Prospects and Risks for Chinese Enterprises' Investments in Africa", was held Thursday at the China National Convention Center in Beijing.
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Sun Zhenyu, president of the China Society for World Trade Organization (WTO) Studies and China's first Ambassador to the WTO, speaks during the forum's opening ceremony. [Photo/Gong Yingchun/China.org.cn] |
About 200 attendees, including Chinese scholars specialized in African studies, representatives of Chinese enterprises investing in Africa, African ambassadors to China and media outlets participated in the forum.
The China Society for World Trade Organization Studies (CWTO) jointly hosted the forum with the Beijing International Trade in Services Affairs Center and Beijing Review.
Sun Zhenyu, president of the China Society for World Trade Organization (WTO) Studies and China's first Ambassador to the WTO; Wang Gangyi, president of Beijing Review; and Dr. BhekiLanga, the South African Ambassador to China, all delivered speeches during the forum's opening ceremony.
"The implication of this investment forum is significant as it provides a new platform where both China and Africa can communicate and exchange ideas," said Wang.
Sun noted that Africa was now an emerging destination for foreign investments.
"China has been the largest trade partner of Africa since 2009,"Sun said. "The trade cooperation between China and African countries enjoys great potential and vast development prospects."
"Chinese enterprises have good prospects to invest in Africa, as Africa has a large number of advantages for investment, namely the stable political environment, the aspiration for development, abundant labor and natural resources," said Cheng Tao, the former Chinese ambassador to Morocco.
But Chinese enterprises are also facing a large number of challenges or risks when investing in Africa. China is quite different from African countries in many aspects.
"Chinese enterprises must understand local policies, legislation, religion as well as customs before investing in an African country," said Wang Yong, vice president of China-Africa Development Fund.
"Moreover, Chinese enterprises urgently need elites, who are familiar with local policies, skilled in business as well as proficient with the targeted country's language," Wang added.
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