Mogae Woos Chinese Glass Investor

Date: 8 November 2006
BEIJING - I would like you to set up a glass factory in Botswana, as we offer more political stability than any other country in Southern Africa.

Our taxes are lower. We can also offer a tax holiday. We have special offers to compensate for the high electricity charges.

These were the words of President Festus Mogae to a Chinese investor, Mr Wu Mong Seng, whose company is in the glass business.

Mr Wu, who is the president of the China Africa Trade and Industry Development Corporation, is harbouring ambitions to set up business in Botswana and Mr Mogae told him during their meeting yesterday that the government will facilitate the move.

The meeting was also attended by the Minister for Foreign Affairs and International Cooperation, Lt. Gen. Mompati Merafhe and the Minister of Finance and Development Planning, Mr Baledzi Gaolathe.

We would like to do everything possible to help you establish in Botswana, the President assured Mr Wu, who seemed to have done his home work and spoke well of the countrys conducive environment.

He said he was confident, he would get the information he wants, when he visits Botswana. He believes the country is endowed with resources such as soda ash, which could be used to produce about 400 tonnes of glass a day for export.

Despite Botswanas stability and a good labour force, Mr Wu decried its high electricity tariffs, as well as high transport charges for export.

Mr Mogae concurred that as a land locked country, transport fares are bound to be soaring but there are together with utility charges cushioned by incentives such as tax holidays.

Since the company is looking for a long term investment and stability, President Mogae said Botswana is the best place to be.

Our policies are 40 years old. They are stable, not made last year or the year before. They are long term policies, he explained.

The company is based in Shanghai, about 1 200kms from Beijing and Minister Gaolathe is expected to visit its factory before leaving China.

600450 Mogae Woos Chinese Glass Investor
Date: 8 November 2006

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