China Yunhong Group to invest over $300 million in Burkina Faso

In Burkina Faso, Chinese industrial giant, China Yunhong Group plans to invest about 200 billion FCFA (about $336.6 million) over the next five years in the West African nation.

The information was disclosed during a meeting between the company’s CEO, Li Yubao, and President Roch Marc Christian Kaboré.

Li Yubao said his group’s planned investments will mainly be channeled to the sectors of agriculture, mining and health.

 

In this connection he unveiled that the group plans to install a pharmaceutical plant in Burkina Faso and make the country the center of its activities in Africa.

Burkina Faso last year ended its official diplomatic relations with Taiwan’s government, yielding to Beijing attempts to isolate Taiwan on the global stage.

Earlier this year, Chinese Foreign Minister Wang Yi visited Burkina Faso and pledged 300 million Chinese renminbi ($44 million) in support to the regional G5 Sahel force.

Posted by on August 2, 2019. Filed under Business, Finance, News, Zoom. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.