ZAMBIA is expected to record investments worth US$1.5billion by the end of this year compared to the US$ one billion recorded last year.
Zambia Development Agency (ZDA) acting director for research planning and policy Collins Sifafula said the increase in investments will be driven by robust mining, manufacturing and energy sectors.
Mr Sifafula said this on Tuesday evening at the launch of the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2011
And speaking at the same occasion ZDA acting director for investment promotion and privatisation Henry Sakala said foreign direct investment (FDI) stocks increased to US$8.515billion last year compared to US$7.4 billion recorded the previous year.
Mr Sakala said Zambia needs to continue to be the investment destination of choice because FDI is a key component of the world’s growth engine.
He said intensifying good economic policies and maintaining a stable political environment are key factors in attracting FDIs.
Mr Sakala observed that the post-economic crisis recovery in FDIs has been slow to take off and is unevenly spread hence the need to attract FDI amid challenges.
The global FDI last year stood at US$1.24 trillion, 15 percent below the FDI recorded in 2007 before the global recession.
“Many uncertainties still haunt investors in the global economy. National and international policy developments are sending mixed messages to the community,” he said.
UNCTAD, however, noted that recovery of FDI flows will continue in 2011 with the expected growth of inflows to be between US$ 1.4 trillion and US$ 1.6 trillion.
“FDI flows are forecast to rise to US$1.7 trillion in 2012 and US$1.9 trillion in 2013,”the UNCTAD report stated.
The expected growth will be stimulated by high levels of cash holdings, low rates of debt financing and rising stock market valuations of transnational corporations.
The report has also stated that the on-going corporate and industrial restructuring, privatisations resulting from rebalancing efforts and unwinding of state support programmes and the growth of emerging economies will also create new investment opportunities.
[Zambia Daily Mail]
I think we should add more utumabuildings not just pa Cairo road!
i think we are getting somewhere.viva mukulu mpuno!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!;
great news…. nafuti nafuti
hmmmm damage has already been done…. Kuyabebele mwbuya…. Chino chaka ni pf and those tu ma trillion wil double within few months…. Good policies… Rhupia chikopo sana!! All this tym chenzo zunguluka mumwamba natunzake, now this is when he want to blind us wt his projects? Ni donchi kubeba bwana…….
What a shame all you scum bags dont get it, this is nothing but bull %% u are a group of scum bag with no common sense direct investment?what a joke show me the money many nationals make less than $150 per month
yaah but your time is up! yep!!Â
Only a f.0.0.l can vote for Sata.
And you want all those moneys to be left in the hands of SATA? The one who carried a trunk of ZMK 2billion from BOZ all way through to Milungushi rock of authority via State house for a 3rd term campaighn.
Over my dead body. RB Nafuti Nafuti, VIVA MMD
If it a’int broken don’t fix it. “Do not make costly experiments” KK warned us over Chiluba. Samvela anapeza nkwangwa ilimumutu
Lusaka’s twin, sister or cousin towers. One is dilapidated.
@ tru to my words the other tower is at the tendering conceptual stage u can see images of the new society house tower @ wxw.skyscrapercity.com/showthread.php?s=f51a99c6552bf6880d5726648be5a2d5&t=1411528
This is good news indeed. We need FDI to boost our economy. However in order to have accelerated development Zambians should be encouraged to become entrepreneurs by the government. It should become cheaper to produce locally as opposed to importing.
Zambian companies should also be given government tenders .The idea of giving tenders to foreign companies is unacceptable.
Where is the data on the number of potential skilled jobs and manual jobs created for Zambians?? That’s what matters…not just investment a foreign investor can come with his own team and invest £100million all you going to is record that number..give us proper data!!
Let the poor eat buildings. Donti kubbebbba
One of the tallest buildings on the continent of Africa, that’s what Dennis Liwewe would say during the commentary when Zambia was playing against Malawi and we would believe it. The guy wanted asylum in the country. Where is he by the way?Â