Nations don't welcome investors seeking quick money, says consultant

A Chinese business representative in Kenya has urged Chinese investors to give up their attempts to make quick money when they invest in the African continent.

"Chinese companies need to map out long-term development plans if they want to set up their overseas companies and production facilities in Africa," says Liu Yanmei, chief representative of the Guangdong Economic and Trade Representative Office in Kenya.

Liu says Africa, which still has very poor manufacturing and infrastructure industries, has great potential for investment from the Chinese mainland.

"China has great advantages in infrastructure and manufacturing industries that the African continent is eager to develop," Liu says.

"Meanwhile, African countries have abundant tourism and agricultural resources that are seeking investment from outside the continent," he says.

But Liu urges investors from the mainland to study not only the investment, economic, agricultural and industrial policies African countries have introduced, but also local economic systems, development patterns, culture and customs to achieve a win-win cooperation deal and mutual development patterns.

African nations do not welcome investors who just want to make quick money on the continent, he says.

"Chinese companies should not breach local economic systems, development patterns and environment while investing in African countries," Liu says.

"Relevant departments should also further expand cooperation with African counterparts in culture, education, training and exchanges of talent to promote mutual understanding between China and African nations," he adds.

Liu, 43, who is also chairman of the Guangdong Association in Kenya, has lived in Kenya for more than seven years. He also lived in Togo for four years.

The Guangzhou native is now mainly engaged in offering consultant services and helping mainland companies, whether State-owned or private, go through procedures to invest in Africa.

Liu, who spends nine months each year in Kenya, now regards the African country as his second home.

In addition to Kenya and Togo, Liu has also worked in Spain, Panama and the Hong Kong special administrative region.

He returned to Guangzhou on Sept 16 and attended the Guangdong Entrepreneurs Conference, which was held in the capital of Guangdong province on Sept 19.

Ma Xingrui, the governor of Guangdong, urged Liu and other business representatives abroad to play an even greater role in helping Guangdong, one of the country's economic powerhouses, to expand cooperation and exchange with the rest of the world.

"Guangdong entrepreneurs and business representatives should contribute even more to the economic development of Guangdong, which relies on its foreign-oriented economy," Ma says.

Liu shared his experience in investing in Africa and offered advice during group discussions at the conference.

"I am expecting to see more domestic companies join hands in investing in Africa, which has great potential in the years ahead," Liu says.

As well as attending the Guangdong Entrepreneurs Conference, Liu participated in the 2017 Guangdong 21st Century Maritime Silk Road International Expo, which was held in Guangzhou on Sept 22.

Liu also attended an innovation forum for representatives of overseas Chinese businesses on Sept 20.

zhengcaixiong@chinadaily.com.cn

(China Daily Africa Weekly 09/29/2017 page28)