China says to help Zimbabwe build special economic zones
Updated: 2014-09-05 06:47
(Agencies)
|
||||||||
HARARE - China will help Zimbabwe build special economic zones and industrial parks to jump-start exports and a struggling economy, its ambassador to Harare said on Thursday as a Chinese firm started expanding the country's largest hydro-power plant.
The pledge by Beijing's top envoy to Zimbabwe, Lin Lin, comes days after 90-year-old President Robert Mugabe returned from a trip to China during which he sought financial help and investment from the world's number two economy.
Lin told Mugabe during a ceremony to mark the start of work to expand Kariba hydropower station, 400 km (250 miles) northwest of Harare, that Beijing was ready to deepen bilateral relations.
Investors in the zones will benefit from special tax breaks and officials said they would not have to comply with black economic empowerment laws that force foreign companies to sell majority shares to black Zimbabweans.
"China is ready to take part in the construction of Zimbabwe's special economic zones and industrial parks, lead the cooperation in infrastructure construction, mining industry, manufacturing industry and other fields and encourage more Chinese companies to invest in Zimbabwe," Lin said.
Shunned by Western countries since 2000 over charges of human rights abuses and election rigging, Mugabe has increasingly embraced a "Look East" policy.
However, during Wednesday's session of parliament, finance minister Patrick Chinamasa dismissed suggestions Mugabe had gone to Beijing to beg for loans backed up by promises of shares in future mineral resources.
In January China's Exim Bank agreed to lend Zimbabwe $319 million to add 300 MW to Kariba hydropower plant, an upgrade that is expected to ease daily power shortages in the southern African country.
- Chinese premier vows support for Zimbabwe, Africa
- Agreements help economy of Zimbabwe
- A dream to build a new Zimbabwe
- Chinese company funds cement plant upgrade in Zimbabwe
- Zimbabwe adds China's yuan to currency basket
- Mugabe wins Zimbabwe presidential election
- China Eximbank lends Zimbabwe $319m for hydro-power plant
- Snoopy celebrates 65th anniversary in Shanghai
- Shanghai Library joins global database
- Lives risked daily in the shadow of active volcanoes
- History hailed
- Chinese TV dating comes to Houston
- China-made electric cars heading to US
- Three Gorges Dam discharges flood water
- Moon Festival not just for Chinese
Most Viewed
Editor's Picks
Host of Japan's historic surrender |
Young China - You've got talent |
President Xi visits Mongolia |
Nanjing 2014 Youth Olympic Games |
Leading leaden lives |
Former security chief under probe |
Today's Top News
Wal-Mart to build shopping center in China
US to pave way for Obama's visit
Wal-Mart seeks China growth
Firms fret over monopoly probes
Chinese TV dating comes to Houston
Joint forces to curb illegal abortions
Can HK afford a credit rating cut?
Hotline to help out Chinese overseas
US Weekly
Geared to go |
The place to be |