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.

About Khalid Al Mouahidi 3853 Articles
Khalid Al Mouahidi : A binational from the US and Morocco, Khalid El Mouahidi has worked for several american companies in the Maghreb Region and is currently based in Casablanca, where he is doing consulting jobs for major international companies . Khalid writes analytical pieces about economic ties between the Maghreb and the Mena Region, where he has an extensive network