Latest news with #Chinese-invested
The Star
08-05-2025
- Business
- The Star
Zimbabwean official hails Chinese-invested firm for increasing steel production
HARARE, May 8 (Xinhua) -- Zimbabwe is witnessing the revival of its iron and steel industry following the ramp-up of steel production by the Chinese-invested Dinson Iron and Steel Company (DISCO), a senior official from Zimbabwe's ruling party said on Thursday. "We have a new product, which is the export of steel from Zimbabwe. This is also beginning to spur the regeneration of Zimbabwe's downstream steel fabrication sector," said Christopher Mutsvangwa, a politburo member and secretary for information and publicity for the Zimbabwe African National Union-Patriotic Front, while addressing journalists in Harare, the capital of Zimbabwe. DISCO, a subsidiary of China's Tsingshan Holding Group, commenced production last year with pig iron, followed by steel billets, and is now producing steel bars. The company is also expected to start producing bolts, nuts and other steel products. "The technology continues to expand, and the product diversity continues to increase," said Mutsvangwa. The local steel production is expected to support the revival of the heavy steel industry in Bulawayo, Zimbabwe's second-largest city, which was severely affected by the collapse of the domestic steel sector, he added. The closure of a major steel producer in 2008 significantly impacted Zimbabwe's local steel industry, forcing the country to rely on imports. Following the ramp-up of domestic steel production, the Zimbabwean government last Friday introduced new restrictions on the importation of certain steel products.
The Star
03-05-2025
- Business
- The Star
International tourists to Cambodia's renowned Angkor up 12.6 per cent in first four months of 2025
PHNOM PENH (Xinhua): Cambodia's famed Angkor Archaeological Park attracted a total of 474,810 international visitors in the first four months of 2025, up 12.6 per cent year-on-year, said tourism department in a media statement. The ancient park made US$22.2 million in revenue from ticket sales during the cited period, up 11.5 per cent year-on-year, said the news release from the state-owned Angkor Enterprise. Situated in northwest Siem Reap province, the UNESCO-listed Angkor Archaeological Park, the kingdom's most popular tourist destination, is home to 91 ancient temples, which had been built from the ninth to the 13th centuries. Thourn Sinan, chairman of the Pacific Asia Travel Association Cambodia chapter, told Xinhua that he did not expect a sharp increase in tourist arrivals to the Angkor in 2025 due to current geopolitical climate, political changes in the United States, and various crisis impacting global travel. "Unless there are initiatives such as free visas or special incentive packages for destination management companies (DMCs) or travelers, I project that arrivals might remain relatively flat," he said. As 2025 has been designated as the Cambodia-China Year of Tourism, this marks a significant step forward in revitalizing bilateral tourism and people-to-people exchanges, he added. "Chinese tourists have historically played a crucial role in Cambodia's tourism industry," he said. Thong Mengdavid, a lecturer at the Institute for International Studies and Public Policy of the Royal University of Phnom Penh, foresaw that the Cambodia-China Year of Tourism would help lure more Chinese tourists to Cambodia, particularly to the 401-square-km Angkor complex. He said the Chinese-invested Siem Reap Angkor International Airport, the main gateway for international travelers to the Angkor, would definitely help bring more foreign travelers to the Angkor park. - Xinhua
