China's Experience In Industrial Parks Development Helps Accelerate Africa's Industrialization

China's experience in building and operating industrial parks could help accelerate Africa's industrialization process which has been one of the most important issues in the development of Africa, a Chinese researcher said.

CAIRO,(APP - UrduPoint / Pakistan Point News - 18th Dec, 2018 ) :China's experience in building and operating industrial parks could help accelerate Africa's industrialization process which has been one of the most important issues in the development of Africa, a Chinese researcher said.

"In 2015, the African Union proposed in the Agenda 2063 Framework Document that manufacturing added value will increase at least five times on the existing basis," Qu Weixi, vice president of the Chinese academy of International Trade and Economic Cooperation (CAITEC), told Xinhua at the sidelines of the first Intra-African Trade Fair held on Dec. 11 to Dec. 17 in Cairo.

CAITEC is an interdisciplinary and multifunctional institution of social science research and a consultative body directly under the Ministry of Commerce of China. Its undertakings including information consultancy, publishing, education and training.

"However, at present, African manufacturing sector accounts for only about 11 percent of the GDP and there is no significant growth; the proportion of industrial added value has even declined. Of the 55 economies in the African continent, only three are emerging industrial economies, and 20 are developing industrial economies and more than half are still least developed countries," Qu pointed out.

In recent years, industrial parks have become a driving force for the development of industrialization, Qu noted, adding that they have gradually developed on the African continent and African countries have proposed preferential policies for their development.

"African countries are still actively planning and constructing a number of new industrial parks. As far as I know, 13 African countries are planning industrial parks, and there are more than 20 industrial parks under construction or in planning stage in Nigeria alone," he said.

In the process of building parks, however, Africa still faces problems such as insufficient infrastructure, unsatisfactory investment environment and lack of technology and funds, Qu said.

China's experience in this regard could help African countries, Qu said, adding that China has accumulated rich practical experience in construction and development of industrial parks in the past 40 years.

"In the past 40 years, China's industrial parks have become a powerful engine for China's economic development. In general, the success lies in seven aspects: planning, open leadership, reform and progress, innovation drive, policy support, ecological priority and development sharing," Qu revealed.

Qu said that China is working with the United Nations Industrial Development Organization (UNIDO) to summarize the experiences of the development of China's industrial parks, stressing that these experiences are important for the construction of industrial parks in other developing countries.

"China promises to strengthen support for the development of African processing and manufacturing industries, special economic zones, industrial parks and other industries, support Chinese private enterprises to build industrial parks in Africa, carry out technology transfer and enhance economic diversification in African countries," he noted.

He said that the China-Africa cooperation in the construction of industrial parks has achieved results. Chinese companies have invested in 18 overseas economic and trade cooperation zones in 14 African countries, with a total investment of 5.3 billion U.S. dollars, attracting 357 enterprises with a total output value of 18.2 billion U.S. Dollars and paid nearly 800 million U.S dollars in taxes and fees to the host countries.

"In the future, China and Africa also have huge potential for cooperation in the construction of industrial parks...the intergovernmental cooperation mechanism based on the China-Africa Cooperation Forum can ensure that China provides assistance and support to African countries in many aspects such as planning and surveying, infrastructure, capital technology and personal training," Qu said.