President Hakainde Hichilema has invited both local and foreign investors to take advantage of the untapped opportunities and invest in Zambia, in order to maximise on the benefits.
President Hichilema says that his administration is working hard to improve the business operating environment in the country by ensuring all impediments are addressed.
Speaking when he officially opened the Invest-Zambia International Conference (IZIC) at the Mulungushi International Conference Centre, the Head of State said that more investment will accelerate the country’s economic growth agenda, thereby creating jobs, business opportunities and enhancing treasury income.
ZANIS reports that the President noted that once these are achieved, more job opportunities especially for youths will be created.
President Hichilema explained that in order to unlock the many investment opportunities, the current administration has resolved a number of issues that stand in the way, including litigations.
“We knew we needed to deal with the debt mountain, priority among many because without that, such a conference would not have been possible.
We restored the rule of law, restored the mining sector to bring back mining assets that were out of commissioning for many years,” President Hichilema said.
The Head of Stated noted that the government has created a platform for the private sector, adding that the national budget also reflects the needs of the private entities through structured inputs from the private sector.
And President Hichilema highlighted the four investment parameters, including fairly priced capital to help lower the cost of doing business and for investors to bring advanced technology that will help in efficiency and higher productivity in the country.
He added the need for joint ventures in doing business and the Importance of value addition which fits in the growth agenda.
“These governments will remain supportive to businesses and foreign investment,” the Head of State indicated.
He stated the need for continental leaders to change the narrative by focusing 70 percent of the time discussing economies, investments and trade.
The President added that as the country seeks its own growth, it is imperative to seek the growth of the continent, understanding that most issues will be addressed in Africa.
Chinese Ambassador Extraordinary and Plenipotentiary in Zambia Han Jing commended the government for the long standing support with Chinese businesses.
Ambassador Jing said that China remains Zambia’s largest investor and second largest trading partner with direct investment reaching over 3.6 million United States dollars in 2024.
He said that with a strategic geographic location, well established legal framework and favourable business climate, Zambia has emerged as a premier destination for chinese investment In Africa.
International Finance Corporation (IFC) Country Manager, Madalo Minofu stated that collaborative efforts are crucial for driving sustainable growth and development in key sectors such as agriculture, mining energy and tourism.
Ms Minofu acknowledged that Zambia under the leadership of President Hichilema has made significant strides in creating a conducive environment f9r investment.
She noted that the World Bank Group remains committed to supporting the efforts and working together to attract new investments that will not only boost the economy but create many jobs for Zambian citizens.
United Nations deputy Executive Director for International Trade Centre (ITC) Dorothy Tembo said that securing quality direct investment is key for achieving tangible Trade gains and social economic benefits that lasts.
Ms Tembo was happy that Zambia acknowledges the importance of SMEs and recognises their important role in enabling transformational growth, especially when supported by the right level of investment and other key enablers.
She noted that Zambia has indeed been implementing robust strategic initiatives advancing the development agenda, government led and private sector driven.
“Zambian SMESs have been exporting goods across the continent and the ITC have been supporting some of these activities,” Ms Tembo said.
Meanwhile, Minister of Commerce, Trade and Industry Chipoka Mulenga said to achieve growth there is need to support the corporate that are working in Zambia, hence the conference.
Mr Mulenga said that through the visionary leadership of President Hichilema, Zambia is ready for collaboration with both local and foreign partners to grow the business investment.
The Minister added that the event marks a milestone on to transform how Zambia does business through shared investment.
Carrying the theme, driving generational transformative investment through joint ventures and partnerships, the conference aims to unlock investment opportunities in various sectors of the economy including agriculture, energy, mining and ICT.
