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Chinese Investment welcome in Botswana.

As an open economy that is amenable to foreign direct investment from all corners of the world, Botswana encourages further investment and the deepening of economic ties with China, a country with whom strong political ties have existed for long.

That was said by President Dr Mokgweetsi Masisi while welcoming a delegation from the China Export and Credit Insurance Corporation, a state owned Chinese company that trades under the name Sinosure on May 16.

The Sinosure delegation, led by company chairperson, Mr Song Shuguang and accompanied by the Chinese ambassador to Botswana, Mr Zhao Yanbo paid a courtesy call on President Masisi at the Office of the President in Gaborone.

Dr Masisi said Botswana had worked on creating an enabling environment for foreign investors to operate their business seamlessly in the country and for investors to work within a protected legal framework.

'We are happy to have you here, another significant step in our relations, which are steeper than the hills that the Great Wall of China are built upon. Our government has worked to create a conducive environment for investment in Botswana. We are firm believers in the rule of law, where private investment is protected, with a right to repatriate duly earned profit and dividend,' Dr Masisi said.

The President said that the country welcomed what he called 'transitioning investment' in the form of human capital, encouraging direct investment by investors in the tourism sector as well as welcoming Chinese tourists to come and enjoy the country's flora and fauna, through which the country is able to derive an economic benefit.

For his part, Mr Shuguang explained that they were in the country to identify areas where they and government entities could partner to facilitate further trade between Botswana and China.

He further noted that they were founded in 2001 as a state owned policy oriented export credit insurance company who have insured over 100 000 Chinese companies in over 200 countries across the world.

Their products, he said, included short, medium and long-term export credit insurance, investment insurance, bond and guarantee business as well as credit assessment business.

Mr Shuguang said in providing insurance products for Chinese investment globally, Sinosure had handled US$ 600 billion worth of insured amounts in 2018 alone, including US$480 billion of trade cover, US$48 billion of Chinese international investment as well as US$24 billion of medium and long term projects pursued by China and other countries.

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Publication:Botswana Daily News (Gaborone, Botswana)
Geographic Code:6BOTS
Date:May 19, 2019
Words:457
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