Zambia’s FDI on the rise, says Kalaba

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Zambia’s FDI on the rise, says Kalaba

3:02 CAT | 20 Jan 2016

The Daily Mail / Harry Kalaba, Zambia's minister of Foreign Affairs.

Zambia’s ranking in capacity to attract foreign direct investment in the region, continent and globally has tremendously increased in the recent past, Minister of Foreign Affairs Harry Kalaba has said.

Mr Kalaba said in view of this, it is important for Zambia to continue engaging at multi-lateral levels as the country pursues its foreign policy objectives and national interests.

Mr Kalaba said at a press briefing in Lusaka yesterday that the rise in Zambia’s ranking on ease-of-doing-business is as a result of prudent economic management and political performance by Government.

“Zambia is ranked 8th in Africa, 5th in SADC, and 4th in COMESA when it comes to rankings of the country’s conducive investment environment in as far as issues of doing business are concerned,” Mr Kalaba said.

The minister said Zambia ranks eighth on the Competitive Global Competition Index.

Mr Kalaba said it is unfortunate that some opposition political parties have continued to label Zambia as a country whose investment environment is not friendly.

He said the same people even claim that the cost of doing business in Zambia is high.

Mr Kalaba also said Zambia has been involved in a lot of foreign interactions in the recent past and these include the Forum on China Africa Co-operation, which President Lungu attended in South Africa in December last year.

Mr Kalaba said Zambia is expected to fully benefit from the US$60 billion package offered by Chinese President Xi Jinping during the forum.

He said sectors through which Zambia is expected to benefit include infrastructure development, climate change, human resources development, industrialisation efforts and value addition.

Mr Kalaba said other areas include security, manufacturing through setting up industrial parks and building capacities for production.

He also said President Lungu will attend the 26th ordinary session of the Assembly of heads of State and government of the African Union to be held in Addis Ababa slated for January 30 and 31.

The summit will be held under the theme: ‘African Year of Human Rights’, with a particular focus on women rights.

Source: The Daily Mail