Zambia in USD 50 million investment boost from China
Zambia is set to receive over USD 50, 000 investment boost from prospective investors from China.
The investments in Mining, Agriculture, Textile and Tourism will create over 1,000 local jobs and help the country to build capacity in value addition.
This came to light when a delegation of Chinese investors from Yulin City paid a courtesy call on the Deputy Secretary to the Cabinet for Finance and Economic Development Siakalongo Siakalenge.
And speaking at the same event Deputy Secretary to the Cabinet for Finance and Economic Development Siakalongo Siakalenge says Zambia has created a conducive environment for investment in the country and offered government support to the investors as they explore investment opportunities in the country.
Mr Siakalenge however encouraged the potential investors to consider exploring joint ventures with the government and other Zambian citizens in order to maximize investment benefits for the country.
“Zambia is open to investment in various sectors such as mining, agriculture, tourism, manufacturing and energy and the investment environment is very conducive to serious business investments” he said.
And Chinese delegation leader Zhou Fang disclosed that the investors are already on the ground with feasibility studies and land sourcing for the establishment of the production plants.
Ms Fang indicated that they will begin production of spices and Chinese herbal medicine in the next 3 to 4 months and expected to create between 120 to 150 jobs in each of the targeted sectors.
And Ministry of Commerce, Trade and Industry Permanent Secretary for Investments Crusivia Hichikumba described the Chinese investors visit as timely especially as the country targets to produce 3million tonnes of copper annually and encouraged them to consider beginning their production sooner to enable the country to meet the target.
Meanwhile, Zambia Development Agency Director General Albert Halwampa stated that the government has put in place attractive incentives for investors and encouraged the team to make use of the available investments.
The Yulin City delegation also plans to invest about USD10 million in copper value addition in order to increase the country’s capability to export processed copper products as opposed to exporting raw materials.
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