No Result
View All Result
Saturday, April 1, 2023
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG cautions against use of Ghana Cedi for bouquets and hampers

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

    GRA reiterates calls for businesses to embrace  E-VAT

    IES predicts drop in fuel prices from April 1

    Journalists trained on the Enrolment of cocoa farmers in pension scheme

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    BoG cautions against use of Ghana Cedi for bouquets and hampers

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    GH¢5.5bn approved by Parliament not only for Blackshield customers – SEC

    BoG assures of enhanced educational campaigns to ensure proper handling of local currency

    Youth in Accountable Governance calls for passage of outstanding revenue bills

    GRA reiterates calls for businesses to embrace  E-VAT

    IES predicts drop in fuel prices from April 1

    Journalists trained on the Enrolment of cocoa farmers in pension scheme

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    CUTS International pushes for passage of Competition bill

    DBG partners UGBS to deepen development finance

    Bank of Ghana increases Monetary Policy rate to 29.5%

    Industry experts convene to discuss diversification strategies for pension funds

    It’s time to give women top posts in multilateral institutions – GCBL Chairman 

    Global Chamber of business leaders enters into partnership with IEFS

    Gold for Oil policy will save Ghana $4.8bn annually – Veep

    Energy Minister scheduled to speak on Ghana’s near-term opportunities at NAEPEC 2023

    Standard Chartered appoints Ebenezer Twum Asante as Chairman of Board of Directors

  • TECHNOLOGY

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

    Third World Network Africa urges Africans to be strategic about AfCFTA

    5 important things to know about the African Continental Free Trade Area agreement

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Zimbabwe: Chinese Ambassador Urges Zimbabwe to Respect Investment Protection Pact

bycitibusinessnews
April 4, 2016
in Africa, Southern Africa
Share on FacebookShare on TwitterShare on Whatsapp

China has urged Harare to respect a bilateral investment protection pact and safeguard Chinese investors’ lawful rights.

The ambassador made the appeal as the Zimbabwean government took steps to consolidate foreign diamond mines and pressed ahead with an indigenisation policy requiring foreign companies to cede majority interests to black Zimbabwean partners.

Huang said in a media workshop held in Chinese embassy Friday that the embassy respected the adjustments on economic policies undertaken by the Zimbabwean government and expected Harare to uphold the rule of law in the due process, including adhering to the China-Zimbabwe Bilateral Investment Promotion and Protection Agreement.

ADVERTISEMENT

The pact, signed by the two governments in 1996, provides that the investment on each other’s territories cannot be nationalized, confiscated, or be affected by any measure that has the similar effect as nationalization. In case of nationalization for the public interests, the process should be done legally and investors should be compensated.

The ambassador referred to the recent shutdown of business operations in Marange diamond fields where two of the Chinese-Zimbabwean joint ventures were operating.

The two, along with four other joint ventures involving investors from South Africa, United Arab Emirates, Russia, and etc, had been ordered by Mines and Mining Development Minister Walter Chidhakwa to join a consolidated diamond mining firm or pack and leave in three months’ time.

Huang said he had raised the issue with several Zimbabwean ministers and the two sides agreed to protect the personal and property rights of the Chinese investors, respect the rule of law, and enhance communication to avoid such business frictions derailing the overall friendly cooperation of the two countries.

“We understand that the move was not targeted at Chinese businesses, but unfortunately two of our joint ventures were affected,” he said.

“Both Chinese and Zimbabwean sides don’t want to see the friendship be affected by this case.”

Huang said the government supported the affected businesses to solve the issue via judiciary means, and would keep following the case to urge the protection of the lawful rights of Chinese investors in Zimbabwe.

China and Zimbabwe have enjoyed a cordial tie since Zimbabwe’s liberation struggle. The friendly relation, especially economic ties, strengthened at the turn of the century after the West, led by the United States and Europe, imposed sanctions on Zimbabwe and prompted president Robert Mugabe to adopt a “Look East” policy.

As the Western development funds and investments shrank, Chinese companies were invited to invest. For the past few years, China has been Zimbabwe’s top source of foreign investment.

The figure peaked at 600 million U.S. dollars in 2013, according to the Chinese Ministry of Commerce, ranking Zimbabwe as the top attraction for Chinese investment in sub-Saharan Africa that year.

It is estimated that around 100 medium and large Chinese companies have operations in Zimbabwe, not to mention many smaller businesses and individuals active in commerce.

Huang also urged them to adhere to Zimbabwean laws and regulations.

–

All Africa

Related Posts

Africa

Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

byEmmanuel Oppong

The South African High Commissioner to Ghana, Her Excellency Grace Jeanet Mason is urging businesses in Ghana and South Africa...

Read more

Medical devices market projected to expand by $ 7.1 billion by close of year

African Union adopts Africa Prosperity Dialogues AfCFTA action plan

Third World Network Africa urges Africans to be strategic about AfCFTA

$130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

Nigeria’s national debt hits an all time as the country struggles with repayment

Next Post

Nigeria: NNPC Vows to Deal With Saboteurs

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.