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$6bn Asia-Africa 'Chinese Mini-City' to be Built in Malawi

Popularity 3Viewed 2053 times 2014-5-12 11:04 |Personal category:Commentary|System category:News| facilities, business, creating, Chinese, complex

A consortium of Chinese investors has picked Malawi for the setting up of an Asia-Africa International Free Trade Zone that could cost a whooping US$6 billion to construct, The Daily Times of Malawi reported.


The proposed Asian-African International Free Trade Area would include a complex of business buildings with a surface area of at least 100,000 square meters, creating a mini-city that will have integrated African and Chinese cultures, wrote the paper.


Other facilities in the complex would include a hotel with casino, apartment buildings, villas with a total dwelling capacity of 18,458 people, schools, a hospital, logistics area, clubs, water system and a multi-purpose hall.


Executives from company were in the country last week to discuss the project with the Malawi government and held meetings with officials from Ministry of Industry and Trade, Malawi Revenue Authority, Malawi Investment and Trade Center, Ministry of Foreign Affairs, Ministry of Finance, among others.


The company, BWB Hong Kong Investment, has indicated that it could start the project as early as May this year, as it already has designs, funds and a contractor in place, but subject to allocation of land by the Malawi government.


Minister of Trade and Industry Sosten Gwengwe in an interview with the Newspaper said the company has settled for Malawi for the investment due to its peaceful and stable environment having earlier considered establishing the facility in South Africa or Kenya.


“They are now just looking for land and in our meeting, they asked for things that are already available for foreign investors hence it was not difficult for them to make a choice,” said Gwengwe.


“They wanted to understand the environment since they are making a huge investment in the country so they inquired about incentives, land issues, labour issues but everything went well,” Gwengwe said.


The lead investor Shi Xiaguang, who is Chairman of China Bishui Real Estate Holdings, was part of the delegation which also included BWB Hong Kong Investment president Yang Debao.


The company already established what they say is the world’s largest free trade area in Beijing which they call China-Africa Merchandise Mall which will be linked with the Malawi complex to become windows for trade between China and Africa.


Well, it looks like while USA is pivoting to Asia, China is pivoting to Africa.


This post was published by the Times Group and the URL for the story is: http://timesmediamw.com/malawi-chosen-for-chinese-mini-city/


(Opinions of the writer in this blog don't represent those of China Daily.)


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Reply Report ColinSpeakman 2014-5-12 13:10
China sees opportunities and acts..because it can!
Reply Report mutafire 2014-5-12 15:15
ColinSpeakman: China sees opportunities and acts..because it can!
Some say it is taking capital out of the mainland...but i know its not...the mainland is actually secretly bankrolling some of these investments
Reply Report ColinSpeakman 2014-5-12 16:59
mutafire: Some say it is taking capital out of the mainland...but i know its not...the mainland is actually secretly bankrolling some of these investments
When the loan is not money but the actual resources for the fixed investment, this is more likely. Chinese companies get the contracts, they can get paid in the mainland for the activities and only send the real resources into the African country. It still results in infrastructure but it alters where any diversion of funds might take place. I am not saying that there is diversion of funds!
Reply Report bex 2014-5-18 10:26
thats a good news free trade zone can save a lot of cost of tax and form a lot of real convenience in trade, Africa relying on importing of Chinese construction materials for a long time, for example the stone coated metal roofing tile and medical equipments. If the free trade zone established, it sure will brings more oppotunities to Africa, the difference between America and China's"pivoting"; While China 'strengthen and develop the friendship' with you, they do actual contributions.
Reply Report mutafire 2014-5-19 00:30
bex: thats a good news free trade zone can save a lot of cost of tax and form a lot of real convenience in trade, Africa relying on importing of Chinese co ...
hahaha, Bex...you have spoken like a real Chinese patriot
Reply Report bex 2014-5-19 09:15
mutafire: hahaha, Bex...you have spoken like a real Chinese patriot
haha really I'm also criticize a lot, I'm not a total blind patriot, in terms of China and Africa relations, they have long been quite strong I assume the reason for China invest such a big figure to form a free trade zone China just want to consolidate the relationship during the sensetive international situations,which is also very helpful isn't it ?
Reply Report bex 2014-5-21 19:41
mutafire: hahaha, Bex...you have spoken like a real Chinese patriot
haha trust me I do criticize a lot too , im not 100% blind patriot, but Africa and China they have long been good friends for years and years, China doing this is only to enhance or consolidate friendhsip especially during this sensitive period of time, which is quite understandable and mostly importantly beneficial on both sides

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