Vice President, George Kunda has invited foreign investors to visit Zambia and explore the various investment opportunities that exist in the country.
Addressing a Business Forum in Trinidad and Tobago’s Capital, Port of Spain yesterday, Mr Kunda said Zambia is one of the most attractive investment destinations in the world.
The Vice President said Zambia has put in place a legal framework and strategies that have tremendously improved the investment climate in the country.
He added that Zambia enjoys a stable political climate, observes the rule of law, and has separation of powers and a strong civil society, among others.
He explained that for the last eight years, Zambia has recorded real Gross Domestic Product (GDP) growth at 5.2 percent per annum as well as a broad based growth due to the diversification process, which has helped secure a wide market for the country’s products.
Mr Kunda further said the formation of the Zambia Development Agency (ZDA) has helped to facilitate the granting of incentives to investors intending to invest in different sectors of the economy.
He said since infrastructure is a catalyst to increased investment, the country has therefore embarked on the establishment of multi-facility zones in different parts of the country as a strategic initiative for economic development.
The Vice-President said these zones, commonly known as M Phases are designed to make Zambia a centre of excellency in economic development through increased activity in the manufacturing sector.
He also called on the private sector to consider investing in Zambia’s energy sector now that there is exploration for oil and high demand for energy in the country.
In the tourism sector, Mr Kunda said there is great potential for investment in national parks and rivers that are sanctuary to some of the most attractive tourist attractions in the world.
He said among the initiatives government has put in place to attract foreign investment include the introduction of a free market economic policy, no foreign exchange controls and easy procedures in exporting and importing goods and products.
Meanwhile, Mr Kunda has said the Commonwealth Heads of Government were meeting at a time when the global economy was making positive attempts to get out of the global economic and financial crisis.
He said the crisis, which has not spared Zambia, is a great challenge and has negatively affected the performance of the world economies.
Mr Kunda also said climate change is one of the challenges affecting Zambia, like in all other countries, resulting in floods which have caused untold suffering to the flood victims.
The CHOGM, which officially opens today November 27, ends on Sunday November 29.
ZANIS
Foreign investors my foot!!! what about local investors??? for once please encourage Zedians to invest in Zed!!
Kale mwa amba.. when are you going to succeed luring the right investor???
What about local investors? Empowering the local Zambian person.
They’re looking for dollars as they think local investors don’t have the cash GRZ want to steal (sorry I’m being cynical)!
Yeah, this is a damn shame that they keep talking about foreign investors, and ignore zambians. Enough crap.
Does Kunda actually believe his own nonsense? What rule of law is talking about?
Concentrate on empowering Zambians, luring , luring, is investors a new term you have learnt now? Aba bantu aba, no nzelu?! Zambians need empowerment teach them enterpreneurship, you might as well woo investors to move in with you in your homes, or help you spend your money
Stop believing that investors have your interests at heart. Thats why we had slavery because you people are so easy to please and you believe evryone who looks diffrent from you.
Canucks, you hit the nail on the head. What is wrong with these people, do they have an inferiority complex? The government should look within Zambia for investors, and you are right about empowering Zambians, instead of begging for exploiters, under the guise of investments. Kunda should be ashamed for uttering such nonsense. It is no surprise, that we are in dependence mode, 45 years after “independence.”