President Hakainde Hichilema began his four-day working visit to Japan this morning with a train ride from Tokyo to Nagoya City, where he toured Toyota Motors Corporation.
During the visit, President Hichilema held productive discussions with Toyota Tsusho Corporation’s leadership, led by Group President and chief executive officer Ichiro Kashitani. As the world’s largest automobile manufacturer, producing approximately 10 million vehicles annually, Toyota’s interest in expanding its investment in Zambia is a significant development. Toyota Tsusho is exploring opportunities beyond the automotive sector, with plans to diversify into energy and pharmaceuticals.
President Hichilema encouraged the corporation to capitalize on Zambia’s favorable investment climate, abundant natural resources, and mineral wealth by investing in value-addition ventures that support their manufacturing supply chain. He specifically urged Toyota to establish a parts manufacturing plant in Zambia that could integrate with Toyota’s manufacturing operations in South Africa.
In a statement, State House chief communication specialist Clayson Hamasaka said the President also called on Toyota Tsusho Corporation to expedite the resumption of feasibility studies for the proposed PV solar power station in Zambia. He emphasised the government’s commitment to energy security through diversification away from hydroelectric power. The New Dawn administration, he noted, has introduced reforms to open the energy sector to private investment, recognising energy as a key driver of economic growth and industrial production.
As Zambia’s Chief Marketing Officer, President Hichilema reaffirmed his dedication to positioning the country as a prime investment destination, fostering economic development, and creating job opportunities, particularly for the youth.
By Benedict Tembo
GRZ buys a lot of Toyota vehicles. So, it’s imperative that HH asks Toyota to set up an assembly plant in Zambia. The rest of the assembled vehicles can find market in surrounding countries.