Zambia set for more investment from China

Copper Production Africa mm-jEmmanuel Chenda has advised investors to develop and set up smelters and refineries in Zambia. (Image source: mm-j)A total of 12 Chinese firms are set to invest US$110mn in various businesses to be located in multi-facility economic zones (MFEz) in Zambia

The MFEZs are located in Chambishi (Copperbelt) and in Lusaka, near the Kenneth Kaunda International Airport

Zambia investment is expected to create thousands of new jobs, this is according to an MoU signed in Beijing on 11 April 2013 on the sidelines of the Zambia-China Economic and Trade Forum.

Speaking at the event, minister of commerce, trade and industry Emmanuel Chenda urged investors to develop and set up smelters and refineries in the country.

Zambia has considerable investment opportunities with well-endowed mineral resources which largely remain untapped, he prodded.

"Our country is the world’s seventh largest producer of copper and the second largest producer of cobalt. It also has many other mineral resources which are yet to be exploited, including gemstones," he pointed out.

"It may already be well known that 25 per cent of emeralds traded in the world are from Zambia," he added.

Addressing the Zambia-China Economic and Trade Forum on 11 April 2013, Chenda called for increased Zambia-China partnerships in the development of export-oriented multi-facility economic zones (MFEZs).

"This is a priority for our government to increase job opportunities through value addition to our natural resources in targeted areas which will ultimately accelerate industrial development.

"This entails transforming sectors such as agriculture, manufacturing, mining and information and communication technology into modern, dynamic and competitive sectors through the injection of private sector investment," Chenda elaborated.

Nawa Mutumweno

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