Friday, March 29, 2024

President Lungu urges Japanese investors to partner with Zambians

Share

President Edgar Chagwa Lungu with Vice-President Inonge Wina during the Annual greetings ceremony for members of the Diplomatic Corps at State House on February 11,2015 -Picture by THOMAS NSAMA
President Edgar Chagwa Lungu with Vice-President Inonge Wina during the Annual greetings ceremony for members of the Diplomatic Corps at State House on February 11,2015 -Picture by THOMAS NSAMA

President Edgar Lungu has called on a visiting Japanese business delegation to consider venturing into partnerships with Zambians who have vast understanding of the country.

And the Japanese government is expected to spend about US$32 billion on developmental projects in Zambia and other sub-Sahara African countries. This will be in additional to improving trade on the continent.

President Lungu said Zambians have a clear understanding of the local environment and cultural norms hence partnerships will give the Japanese investors a better head start.

Mr. Lungu told the Japanese delegation that the country has adequate incentives to attract investors to invest in various sectors.
He was speaking at State House today when he met a Japanese delegation.

The President said his government was open for dialogue whenever investors feel dissatisfied with the incentives.

Mr. Lungu said government wants to create an environment where Zambians will not just be workers but co-owners of businesses.

The President has also urged the delegation to explore other potential areas of investment apart from the traditional mining and agriculture.

He has assured them that Zambia was a good destination for foreign direct investment (FDI) because of the country’s observance of the rule of law and democracy as evidenced in the recently held presidential elections.

And Japanese Ambassador to Zambia Kiyoshi Koinuma told President Lungu that the mission was vital for strengthening economic ties between the two countries.

Mr. Koinuma stated that the mission follows talks between President Lungu and a representative of the Japanese government on the sidelines of the African Union meeting in Ethiopia early this year.

He said the Japanese government will continue with big projects in sub Saharan countries including Zambia in the next five year saying about US$32 billion is expected to be spent.

He said there was need to promote trade between Zambia and Japan besides the development assistance his country is providing.

He said the delegation’s focus was on energy, agriculture and mining which he said looks promising for investment in the country.

Mr. Koinuma has since reiterated his country’s continued support toward Zambia’s economic development.

The meeting was attended by President Lungu’s Advisor for Politics Kaiza Zulu, State House Permanent Secretary (PS) Emmanuel Chilubanama, Foreign Affairs Permanent Secretary George Zulu and senior state house staff.

5 COMMENTS

  1. Quote:

    ‘The President said his government was open for dialogue whenever investors feel dissatisfied with the incentives.’

    I hope we are negotiating better returns in percentages for any joint ventures. Also I hope there are no mixed messages regarding Tax payment.

    Not happy for gov’t to continue with the Mines industry if Copper included. We need to STOP Copper mining as we do not get much out of it and are merely providing our shared resources for a smaller circle of business people. We need real revenue. Happy with the other areas looked at particularly Agriculture and partnerships.

    • It sounds good but Mr. President do not be too soft on the incentive side of things. We need the win-win deals.
      The Japanese are good investors.

  2. ” The meeting was attended by… (Zulu, Chi somone, Zulu)”. all members of the KUMAWA MAFIA. On the bright side Lungu is actually making some economic moves without president CHIKWANDA. I applaud this effort that is how to get investors interested in Zambia. Good job and well written speech.

    • You must be some disgruntled, bitter, T===a loser. No wonder you will never rule this country. You and your people are some deluded load who think you know everything and you are the best. Yet, you are as good as your beasts. I think the methane from the beasts’ back side has done you lot some real mental damage. They need to transfer Chainama from Lusaka to your area where you lot are many!!

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading