ZDA attracts foreign investment
THE Zambia Development Agency (ZDA) has attracted in excess of US $1.6 billion new investments in the country’s economy during the first quarter of 2017.
ZDA director general Patrick Chisanga said the Agency’s focus was to exceed last year’s achievement which was $3.4 billion.
Mr Chisanga told Journalists in Lusaka on Wednesday that ZDA was targeting to attract $4.5 billion.
“I want to say that in the first quarter of this year, we have already attracted in excess of $1.6 billion in new investments to this economy.
“Our focus was to exceed last year’s achievement which was $3.4 billion, we were targeting to attract somewhere in the order of $4.5 billion... but Iam very very confident we will exceed that target,” Mr Chisanga said.
He explained that the flow of Foreign Direct Investment (FDI) in Zambia after the general elections had increased significantly.
Mr Chisanga said ZDA had a number of projects proposals some of which were in the order of $2 billion, $ 1.5 billion mainly in the energy sector.
He explained that the prioritisation of energy by the Government had had landed on respective ears on the investors community.
“I think that prioritisation of energy by the Government had landed on the very respective ears in the investor’s community.
“And I actually share the optimism that if the current pace of new investments into the energy sector particularly with adjustment in the tariffs, because we will then be able to offer investors in the energy sector with more attractive tariffs, we are actually going to see the end of any form of load shedding,” he said
Mr Chisanga said, beyond that Zambia should be able to start exporting power to neighbouring countries.
ZDA director general Patrick Chisanga said the Agency’s focus was to exceed last year’s achievement which was $3.4 billion.
Mr Chisanga told Journalists in Lusaka on Wednesday that ZDA was targeting to attract $4.5 billion.
“I want to say that in the first quarter of this year, we have already attracted in excess of $1.6 billion in new investments to this economy.
“Our focus was to exceed last year’s achievement which was $3.4 billion, we were targeting to attract somewhere in the order of $4.5 billion... but Iam very very confident we will exceed that target,” Mr Chisanga said.
He explained that the flow of Foreign Direct Investment (FDI) in Zambia after the general elections had increased significantly.
Mr Chisanga said ZDA had a number of projects proposals some of which were in the order of $2 billion, $ 1.5 billion mainly in the energy sector.
He explained that the prioritisation of energy by the Government had had landed on respective ears on the investors community.
“I think that prioritisation of energy by the Government had landed on the very respective ears in the investor’s community.
“And I actually share the optimism that if the current pace of new investments into the energy sector particularly with adjustment in the tariffs, because we will then be able to offer investors in the energy sector with more attractive tariffs, we are actually going to see the end of any form of load shedding,” he said
Mr Chisanga said, beyond that Zambia should be able to start exporting power to neighbouring countries.