China Outbound Investment - Ministerial discussion at ITIC London

November 1, 2019 (London) - International Tourism Investment Conference (ITIC) was held in London on November 1. The event was officiated by H.E Dr Taleb Rifai, former Secretary General of UNWTO and attended by Ministers and senior management of the tourism industry ahead of World Travel Market (WTM ) in London Excel.

The Ministerial panel on Africa and Island Nation was one of the panel that caught the attention of the delegates. One of the highlight was on Opportunities for China Outbound Direct Investment (China ODI) in travel and tourism development projects, Infrastructure and services by Dr Marcus Lee.

Dr Lee from China explained China's outbound direct investment (ODI) amounted to $143 billion in 2018, making it the world's second-largest outward investor. More than 27,000 Chinese investors had established about 43,000 overseas enterprises in 188 countries.

Due to Lee’s involvement in South Pacific countries, he cited over a total of 277 Chinese investment projects, worth about 2.36 billion Fijian dollars (about 1.08 billion U.S. dollars) were successfully implemented in the island nation, over the last five years. His contact has acquired 2 hotel casinos in Samoa last year. Aside from this, Chinese companies also help build roads and bridges, bring in agricultural technology that will benefits the local residents. 

Photo: The panelist includes: Hon. Najib Balala, Cabinet Secretary of Tourism and Wildlife, Kenya , Hon.Konrad Mizzi, Minister of Tourism, Malta , Hon. Mrs.Memunatu Pratt, Minister of Tourism and Culture,Sierra Leone , Hon.Edmund Bartlett, Minister Tourism, Jamaica, Joy Jibrilu, Director General,Ministry of Tourism and Aviation, Bahamas and Dr. Marcus Lee, Chairman of China SME Business Owners Association.