Investing in Africa Forum boosts in-depth exchanges

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The fourth annual Investing in Africa Forum kicks off in central China's Hunan Province. The two-day business event follows the Forum on China Africa Cooperation, or known as FOCAC, and sets its eyes on concrete cooperation between China and African countries.

Over 400 government officials, business representatives and international organization members are attending the event.

Hao Mingjin, vice chairperson of the Standing Committee of China's National People's Congress, said that together, China and Africa shall advance China-Africa cooperation towards the common strategic goals, and suit the mutual benefits."

Over 400 government officials, business representatives from China and Africa and international organization members attend the fourth Investing in Africa Forum in central China's Hunan Province, Sept. 6/CGTN photo

African participants are seeking more such involvement from Chinese public and private investors, based on mutual benefits.

Republic of the Congo President Denis Sassou Nguesso said that investment in Africa is the key to the development of the continent.

"We need initiatives and action. These are the basics of the development," he said.

The two-day forum not only features in-depth exchanges, but is also aimed at sealing concrete deals.

In just the first day, 16 initial investment documents worth over 1.37 billion US dollars were signed. They cover agriculture, industry, and cultural and medical cooperation.

The forum this year is themed with "strengthening investment in and cooperation with Africa, and advancing the sustainable development and shared prosperity of China and Africa through innovation"/CGTN photo

Expectations are high following the 2018 Beijing summit of FOCAC, which pledged a commitment for strengthened cooperation in the next three years and beyond.

Aboubaker Omar Hadi, chairperson of Djibouti Ports & Free Zones Authority, said that in his country, all cooperation projects are now ready for investment from China.

"We are planning to open more ports, and more free trade zones," he said.

Rene Awambeng, an official from African Export-import Bank said that Africa has 54 countries, and a continental population of over 1.2 billion.

"Each nation has different needs for infrastructure, health and education, which will contribute to the well being of the people. And we welcome them all," he said.

The forum started in 2015, with the three previous editions held in Ethiopia, China and Senegal.

The next such Forum will be held in the Republic of Congo in 2019. Participants say they will try to create more favorable conditions by then for concrete and mutually beneficial investment between China and Africa.

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