Stumbling blocks for FDI flow mentioned

MAUREEN ODUNGA in China

CHINESE investors are committed to invest in Africa but are held back by lack of proper information on the continent’s business environment.

The Secretary General of Chinese Follow-up Committee for the Forum on China-Africa Cooperation, Amb Lin Songtian said African think tanks and media should provide sufficient information and data to promote investment opportunities and boost their economies.

Amb Songtian who is also the Director of Africa Affairs in the Ministry of Foreign Affairs made the remarks at the African Civil Society Organisation Workshop organised by China NGO Network for International Exchanges (CNIE) in Beijing, yesterday.

“Majority of the investors in China do not have access to tangible information to assist them on the nature of investment they should pursue on lack of proper data,” said Amb Songtian.

He added, “Investors should be able to come to your countries based on factors such as favourable and up to date laws and regulations, clear policies, good infrastructure investment and a reliable electricity supply,” In most cases investors will observe key factors such as the stability of the country, seriousness of the presiding government, and in no case would anyone wish to operate on an unstable environment.

For African countries to develop they need to know where to go and how to go about the plans while focusing on reformation and opening up to the world.

Amb Songtian had pointed out that the meeting was inline with the December, 2015 Summit of the Forum on China-Africa Cooperation (FOCAC) in Johannesburg, South Africa. Countries should channel their efforts on industrial investment and agriculture for their economic development.

The Secretary General of the Pratiotic Front (PF) Zambia Ruling Party, Mr Paul Moonga, was on the view that the idea of multipartism was good but African countries needed to come up with best practices to promote democracy as well as strengthen economies.

Mr Moonga said too much efforts, time and funds was being spent on elections, whereas they could be directed in other areas of common good for the sake of raising the economies of the country.