Law firm looks to facilitate Chinese investment in Africa

By He Shan
0 Comment(s)Print E-mail China.org.cn, June 28, 2017
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Djiboutian Ambassador to China Abdallah Miguil. [Photo by Liu Ying/China.org.cn] 


Hanyuan Partners, a law firm based in Shanghai, is looking to provide legal services to Chinese investors seeking business opportunities in Djibouti.

At the Chinese Legal Services in Africa Conference held in Beijing on June 27, Hanyuan was invited by the Embassy of Djibouti in China to introduce the legal services it could offer to diplomats of African countries, including Djibouti and the Democratic Republic of Congo.

Djiboutian Ambassador to China Abdallah Miguil said the presentation offered a good opportunity for the law firm to explain how it could assist with Chinese outbound investment and projects in African countries.

"Such physical contacts can help avoid misunderstanding or problems in the future. With the Belt and Road platform, China will invest a huge amount in Africa," the ambassador said.

"I have confidence that in the future, we could reduce the risks, misunderstanding and problems in massive African-Chinese investment," he asserted. "I think law is always better than interpretation of agreements."

Speaking at the conference, Zhu Xuefeng, the chairman of Hanyuan Partners, pointed out that there was insufficient knowledge of African legal systems in China, and such a situation should be improved in view of the good momentum of the China-Africa relationship.

He urged Chinese lawyers to do more to pave the way for their country's investment in Africa.

 

In regard to the future cooperation in legal services, Zhu said there are two issues that need to be addressed. First, African countries should know the needs and the worries of potential Chinese investors. Second, Chinese lawyers should help Chinese investors get familiar with African legal systems, investment environment and potential legal risks.

The ambassador explained that Hanyuan was approached as it has provided legal services and consultation to Shanghai-based Touchroad International Holding Group, which is creating a special economic zone in Djibouti.

He Liehui, the chairman of Touchroad International Holding Group, lauded the bold move made by Hanyuan in providing significant legal support to facilitate Chinese investment in African countries.

He noted Djibouti's strategic position on the Horn of Africa gave it a geographical advantage as a gateway to the whole of East Africa.

He said Djibouti had a relatively sound legal system and a stable regime. Moreover, it has loosened control on foreign currencies and has a high degree of currency stability not enjoyed by other African countries.

Commenting on the significance of legal services to Chinese overseas investment, he said, "Wherever Chinese companies go, wherever Chinese law firms should follow."

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