Two Brazilian firms have pledged to setup businesses in Zambia in August this year with an initial combined total investment of US$600 million. The two companies Uami and Valley will venture into the mining and the energy sectors respectively. Valley which deals in energy will invest us$400 million, while Uami will invest us$200 million in its mining operations
Uami has further targeted to produce over 50 Tonnes of Copper and create 1,500 jobs in its initial stages. Marcopola the Brazilian manufacturers of luxury coaches has also announced its intentions to set up a plant to maintain the Zambian fleet of buses among others.
This was disclosed during a business forum held at the Pamodzi hotel today. Meanwhile Brazilian President Luiz Inacio Lula De silva says he has great conviction that African countries are capable of competing with the other regions in the world in terms of economic trade.
The Brazilian leader said this when he graced the Brazil/Zambia Business Forum hosted by the Ministry of Commerce, Trade and Industry in conjunction with the Zambia Development ZDA at Pamodzi hotel in Lusaka. Mr Lalu da Silva said the negative publicity of African nations to the outside world has contributed in painting a gloomy picture of the region.
He said Africa has the Potential not only to develop and generate wealth but also improve the lives of the people because of the economic comparative advantages that exist in the region citing massive unexploited land as one of them.
President Lula disclosed that Brazil generates over 26 billion United States dollars from trade activities with Africa which is by far higher than the revenue generated from its trade activities with Japan and Germany combined.
And President Rupiah Banda has implored the Zambian Business Community to take advantage of the invitation extended to them and the various MOUs that have been signed today to engage in trade partnerships with Brazilians. He also warned that Government will revoke trade licenses and land from Zambians who are not utilizing them and give to people who are serious.
And The Brazilian Government has called for increased trade activities between Zambia and Brazil. And Brazil’s Deputy Minister of Development Trade and Industry has invited the Zambian business delegation for a business forum between the two countries to be held in Sao Paulo, Brazil in October this year.
This a reciprocal invitation to the 20 member delegation of major Brazilian firms that arrived together with Brazilian President Inacio Lula da Silva yesterday for a two day official visit who have since expressed interest in investing in various sectors of the Zambian economy.
Flavio Lala who spoke through an interpreter extended the invitation to the Zambian Government this morning during a business forum to exchange and compare notes on different business topics pertaining to economic investments in both Countries.
Mr Lala disclosed that Brazil which is the economic giant of South America is interested in upholding various business activities between the two countries for mutual benefit.
He says there is need for both countries to do more and ensure that there is an increased growth in trade activities which currently account for only 20 million united dollars.
And speaking at the function, Commerce, Trade and Industry Minister Felix Mutati assured Brazilian firms willing to invest in Zambia of a favorable and conducive business and trading environment.
Mr Mutati says Zambia has taken a leading role in ensuring that it provides all the key essential elements of a conducive investment destination in the entire Southern region.
He added that Zambia has the most flexible and consistent application of the tax system which ensures that investors get their expected incentives thereby creating investor confidence in the business community.
Mr Mutati also called on the Brazilian business Community to set up its own Multy Facility Economic Zone MEFZ in Zambia like the one the Chinese have setup in Chambeshi, and trade in Biofuel, Sugar, and Construction that will give the Zambian economy a new torch and skill of doing business.
Twenty Brazilian firms are in the country to explore business investment opportunities in the energy sector, Construction, Digital Broadcasting, and Manufacturing among others.
QFM
And two Zambians business firms have pledged to set businesses in Brazil worth $500m!. ::d
When we win the next election we will nationalise these companies in 90 days. This is not real investment, they are just infestors.
#2 You seem bothered with this achievement. Are you for the betterment of the country’s development or still stuck in politics of opposing anything
Ignore the utopia of Sata and apply yourselves to national and personal development. Zambia has too many opportunities to tap into. Leave insults and hogwash nkhani yamukachasu to PF Kaponyas. Patriotic Zambians are turning themselves into emerging economic drivers and game changers.The utopia of isolationism and re-nationalisation has never worked for ambitious and forwards looking progressive people.Zambia is part of the Global village with its prospects interdependent on inter-trade and investment. We need technology, capital and knowledge injection from anywhere in our economy.We salute the selfless leadership of RB and his administration for holding the Zambian vision with tenacity and focus. Our grow and stability dependend on internal and externational business confidence evident.
There are many benefits Zambia will gain from this strategic bilateral relationship the two sister nations have committed themselves to on behalf of the two peoples. Like India, and China, Brazil is not a small Global actor to be ignored or isolated. She has necessary technology, skills, capital and national will to transform the balance of economic and international dynamism. Her past-to-current transformation through a dark historic legacy and now a success story is very important for Zambia which has just graduated from the liberation struggle leadership. With political independence of sub-sahara Africa, Zambia has her eyes transfixed on economic independence hence the need to learn from China, india and Brazil with shared legacy.
The benefits of having a qualified economist and experienced diplomat at the helm of the nation are beginning to manifest themselves. Just imagine what will happen WHEN RB will have 5 years to put all his plans into action. He WILL end up being the BEST President this country has ever had.
In the same vein i must say Zambia cannot afford to ignore its fellow African emerging giants economically such as South Africa, tunisia, Libya, Ghana and to surprise of many Ethiopia. This is why one can only laugh and sympathize with chauvinists who believe a fellow African business as LAP Green with all the technology, experience and capital cannot be a player in Zamtel.
Lap Green is a US $ 5 billion investing portfolio. Today even troubled BP is looking for money from any investor around the world among them being Libya. This is why Libyan investors are now targeting to ‘bargain value’ BP shares. Libya’s sovereign wealth fund is set to invest in beleaguered BP. Actually several Middle-Eastern investors are also preparing to plough money into embattled BP. With BP price lower by half , the LIA [the Libyan Investment Authority] have turned themselves into risky neutral bargain hunters only seeing opportunities the Chinese way. Chinese are have rapidly impacted the world in shortest possible time because where others see risk, Chinese take that as best opportunity to lock in. Libya is following that route with determination.
With a good human capital index, African population off more than 850 billion people as a potential convertable market, proactively Zambia needs all local and off-shore sovereign wealth funds if we have to be the Singapore of this continent in the next 10-15 years. Deafeningly ignore Sata’s nkhani yamukachasu. He is overdrunk with utopia and confused with the uninihibited democratic space MMD has created for all.I sincerely all Zambians young and old can apply themselves in these Golden opportunities instead being empowered with insulting menus only which PF is doing.
African population of more than 850 billion people as a potential convertable market……….,
Sorry mean million not billion “850 million people”
Ignore the utopia of Sata and apply yourselves to national and personal development. Zambia has too many opportunities to tap into. Leave insults and hogwash nkhani yamukachasu to PF Kaponyas. Patriotic Zambians are turning themselves into emerging economic drivers and game changers. The utopia of isolationism and re-nationalization has never worked for ambitious and forwards looking progressive people. Zambia is part of the Global village with its prospects interdependent on inter-trade and investment. We need technology, capital and knowledge injection from anywhere in our economy. We salute the selfless leadership of RB and his administration for holding the Zambian vision with tenacity and focus. Our national growth and stability is dependent on internal and external business…
REMEMBER THIS!
Sata’s head has been burried in the sand! Look at all PACT supporters on this blog are now rooting for RB! I like this because kaponyas are easily influenced! Yesterday everybody was saying bad staff about RB and today all is good! These are politics of poverty and opportunists! Even if the VISA MOU was to be extended to every Zambian, very few of you will afford to fly to Brazil! This MOU will benefit Brazil and not yo
Well, that is good news as long as Banda is not eying ZESCO for sale next. What other government company/parastatal is remaining to be sold? Fibre optic is gone to Libyan company and they have failed to mention it that is why they don’t want to disclose the deal for Zamtel. Zamtel plus Fibre Optic was worth more than the peanuts Banda is going around touting. He is always mentioning Zamtel but has always left out the other part, the real meat.
By the way, in how many countries does Brazil have investments before we get so excited?
Congratulations President Banda, we salute you for these wonderfull developments. Hope the cobra will swallow its venom for the time being as it considers new ways of removing its skin to look new in 2011.
Kalos 2020.
You are very right in the extra value of the optic fibre network that was just newly constructed and now given away as a bonus to the investors.
In coming years these MMD kaponya’s will look back and say ” Why did we sell it so cheap?”