His Excellency Mr. Ivan Zyuulu, Ambassador of the Republic of Zambia to the People’s Republic of China, has arrived in Wenzhou, Zhejiang Province, to advance Zambia’s investment engagements with Zhejiang Tsingshan Steel Net Electronic Technology Co., Ltd (ZTSNET), a subsidiary of Tsingshan Holdings Group. The visit highlights Zambia’s focus on strategic partnerships to drive industrial growth, clean-energy development, and job creation, in line with the country’s economic diplomacy agenda.
During discussions with ZTSNET’s leadership, led by Chairman Zhang Jiawei, the company reaffirmed its commitment to pursuing investments in Zambia that align with industrial and clean-energy objectives. Proposed projects include the construction of an industrial park in Chingola, a copper mining and smelting initiative in Luanshya, and a one-gigawatt solar power project. Chairman Zhang noted that due diligence is ongoing to ensure the projects comply with Zambia’s laws and deliver tangible value.
Ambassador Zyuulu welcomed the proposals, emphasizing that Zambia is open for business and investment. He highlighted Zambia’s clear policy framework for private participation in mining and energy, the ongoing national cadastral survey to strengthen resource governance, and the country’s goal to expand installed electricity capacity from approximately 3,705 MW to 10,014 MW by 2030 to meet growing industrial and household demand.
The discussions also covered the potential establishment of a banking institution in Zambia. Chairman Zhang expressed interest in understanding the regulatory pathway, citing the growing presence of Chinese enterprises in Zambia and the need for efficient financial support to facilitate trade and investment flows.
The Zambian delegation visited the Institute of Advanced Business Studies at Zhejiang University, Tsingshan’s in-house education platform, to explore opportunities for skills transfer and capacity building for Zambian partners. The collaboration is intended to support Zambia’s Eighth National Development Plan by enhancing technical expertise and workforce readiness.
ZTSNET’s leadership indicated plans to visit Zambia before the end of 2025 to advance preparatory engagements and finalize project arrangements. The partnership is expected to strengthen Zambia’s industrial base, expand clean-energy capacity, and create employment opportunities, further cementing the country’s position as a preferred destination for foreign investment.