Investors from China build shopping centre in Sao Tome and Principe

The largest shopping centre in Sao Tome and Principe, an investment by a private group from the People’s Republic of China, was opened Wednesday in Sao Tome, in a ceremony that was attended by the Sao Tome Minister of Defence and Internal Affairs.

Minister Arlindo Ramos highlighted the importance of foreign direct investment “in relaunching the economy of Sao Tome and Principe,” of which this shopping center is an example and Chen Xio Xian, the Chinese group’s chief executive, said the project cost more than US$5 million.

Arlindo Ramos also said that the opening of this shopping centre “symbolises the government’s focus on the private sector,” highlighting their role in combating unemployment and the positive influence on market supply and demand for goods and services.

Located in the centre of the capital of Sao Tome and Principe, the new five-floor shopping centre, with almost 100 shops, offers wholesale and retail trade of various goods, including food, clothing, household appliances, computer equipment, materials construction, furniture and vehicles along with services.

This shopping centre is the largest project by investors from mainland China in Sao Tome and Principe since diplomatic relations were cut after relations with Taiwan were established in May 1997. (macauhub)