Direct Foreign Investments: African Entrepreneurs Show Greater Interest In China

Investments in Sichuan Province from seven countries in 2016 reached over 4 Billion FCFA.

Sichuan Province, located in Southwestern China, is a hub for technological innovation, industrialisation and aircraft engine development. With a population of 91 million and 2016 Gross Domestic Product of 3.26 Trillion Yuan Renminbi (about 279 Trillion FCFA) - the sixth largest amongst China’s provinces - Sichuan looks forward to enhanced economic ties with Africa. The province currently maintains relations with over 500 businesses in more than 200 countries, officials recently told a group of 26 African journalists in the capital, Chengdu.  

According to Xiao Yonggang, Deputy Director for Protocol and Information, Provincial Department of Foreign and Overseas Chinese Affairs, entrepreneurs and State corporations from seven African countries – Cameroon, Ghana, Cote d’Ivoire, Kenya, Nigeria, Seychelles and Mauritius - invested 7.25 million US Dollars (about 4.2 Billion FCFA) in the province in 2016. Yonggang did not however provide details of areas of investment nor the amounts spent by each country, but noted that the development was testimony of growing business links between Sichuan Province and Africa.

Meanwhile, the 17^th Lecture Tour of African Ambassadors organised by the Chengdu People’s Association for Friendship with Foreign Countries held in Chengdu on March 9, 2016. About 100 officials took part in the meeting, including Chinese business people, during which Afri...