A delegation of Indian investors is scheduled to arrive in the country today to explore investment opportunities in the country and also to assess the suitability of Zambia as an investment destination.
Zambia Development Agency (ZDA) Communications and Public Relations Manager Margaret Chimanse said in a statement today that during their visit, the delegation will meet President Mwanawasa and other senior government officials and private sector represntatives.
Ms Chimanse said the delegation will also attend a seminar dubbed ‘Zambia: A Profitable Destination for Investment and Trade’, organised by the Zambia Development Agency under the Triangle of Hope programme.
She said the Delegates are expected to meet the business community and make on the spot checks on sites available for investment in sectors such as Information Communication Technology (ICT’s), manufacturing, pharmaceuticals, mining, agriculture, agro processing, health and education.
The hosting of the Asian delegation is in line with government’s economic vision for Zambia which seeks to imnprove the livelihood of Zambians through increased investment and wealth creation.
The governments key economic strategies for accelerating economic growth and development is the creation of an enabling environment that will inturn stimulate domestic and foreign investment.
As part of the thrust, government, through the various initiatives such as the Private Sector Development (PSD) programme, the Triangle of Hope initiative and the Blue Book, is removing the remaining economic hurdles.
The Triangle of Hope, which is a programme to attract investment into Zambia from South East Asia in the spirit of south-south cooperation and is supported by the Japanese International Corporation Agency (JICA).
The main objective is to develop a sustained Action Agenda that when implemented by government will lead to increased private sector investment thus more jobs and wealth in the country.
Not Indians again!!!!!!!!! They are the biggest exploiters, see what they have done in kamwala on a microeconomic perspective. At macro level, everyone knows what is happening at KCM and how much funds are externalised without benefiting Zambians. Zambians, please wake up and do not allow these “Mwenye” in, some of them are more poor than we but will be called “bwanas”. They have dug out of Uganda all the resources.
I am for inward investment but I would like to see opportunities extended to indigenous Zambians as well. Zambians abroad do something -start getting involved in investment in Zambia and be quick about it.
AH!!!!!!!!! NOT AGAIN!!!!!!!
CHIMANSE THINKS INDIANS CAN BRING IN ANY MEARNINGFUL DEVELOPMENT!
SHAME AGAIN!!!!!!!!
When Anglo Americans abandoned KCM and Zambians only Indians were there to rescue Zambia by taking over KCM and the copper price was very low to meet the operation of KCM.The copper price went up and the were lucky to make returns for their investment. Why are we blaming them?. All these mineral resources we are discoverin g now were there when Anglo Americans & RST were in control of Zambian Mining Industry. Why were they hiding all these exploration results? Are they better than Indians?
Hi,
I am sorry but I dont respect indian investment largely because oif their luck of invest ment for nativea and their investments are just silly…. shops in Kamwala!
How about Zambians invited to explore investment oppportunities in Mazabuka? Slick isnt it?
Indian investment = ‘mali ya kamina, challo chakawena’
mentaliity. They create indaian only networks of trade. The only point of contact with locals is when taking the money and sending back to india.
Iyeee!!!!!. anather BINAN. Have we forgoten how BINAN brought Luanshya mine plant to dilapidation? BINAN went away with the copper-smelter pots of Luanshya copper plant and sold them as scrap metal in South Africa. Im repeating the question asked by some people when Luanshya mine was sold to BINAN, they asked, “Can anything good come from India?”.Repeating a mistake is not only making a mistake but failure to learn from a mistake is having unsoung mind. History repeats itself but not like this.
Esheniko bambi naimwe mwati nibansamya? Our children in future will lough at us when they will hear that we repaeted the same mistake.
#4. Anonimous Phiri, you are right to the core. Life in CN came to a desperate halt when those Anglo Americans withdrew without warning and went to South America. They now wanna come back coz copper prices have improved. The Indians came and gave us some face. They may not be the best investors but they came when all the ‘serious investors’ did not want anything to do with us. Our economy is safe and stable, but see how many of the west wanna come over.
Don’t blame India for the mediocre workings labour laws, councils and all the legal frame work that’s supposed to even the playing field for all.
The case in Luanshya is rather unique. Binani group was not the best of all that had applied to buy the mine, but off course they played an under hand with the day’s government. Was it India’s responsibility to prevent this? It all comes back to us people.
Indians who bought KCM were not just lucky to buy KCM, it was all pre planned. IMF/WB knew that once the secured the mines in Zambia to “foregin investors” including Indians who bought KCM, they push the price back up knowing that China and India would be needing copper to feed their growing economies. Today the company that owns KCM is partly run by indians and the rest of the shareholders are pension funds in the UK. It’s all a conspiracy to keep Zambia poor while we make India and UK rich!
There are very few things that happen by chance in this world, my take is that almost every major event or incident is pre planned etc rigging elections, selling our mines and not benefiting from them etc.
Do not forget history. In 1982 when NCCM&RCM merged they wanted to close Luanshya& kabwe mines as they did to bwanamukubwa & kansenshi as it was not economical to operate. Binani was the first to take over a mining division in Zambia then Anglo came to the field. Binani was pushed out from Zambia by the other players and then they also abandoned Zambia. If the investors are operating against the country’s laws, we can always nationalise. Let us co operate to develop Zambia
Sorry #1 u cannot attract americans, haven’t already got it.Whether u like or not we do not have the capacity to develop our own country.An alternative, is zed in the diaspora to invest home, but u know we behave, we zeds, as long as we enjoy our meals n liquor in foreign countries, we even forget our home.The challenge is let pipo who can afford to form investment groups and start investing home.Period.You cannot attract americans, we have no OIL.
Ignorant #4 and most of you. Indians bought KCM when copper prices picked and KCM had just started making profit. My people perish because of ignorance. The ultimate solution is to encourage Zambian investors to invest. Zambians have already started doing fine and simply lack capital. To call foreign investment is a biggest error in this land. We would rather leave Zed develop at its own pace with local investment. What wealth creation is Chimase “former news leader” talking about?
Gentlemen, Zambia is a country of laws and regulations, these asians who exploit our people take advantage of our ineffective laws. so all in all we need to strengthen our regulatory bodies so tht they become more pro active. Other wise as regards to FDI be it Indian, Chinese, USA etc should not be an issue. We have a ZDA Act that does not discriminate btn foreign and domestic investors, so all you out there who thnk are better investors, this is a liberal world, come forward and invest in our
country so that you create a competitions with the Asians and in the end your investments will crowd-out the asian investment. the rule is simple….dont just condemn when you have no capacity to contribute yoself…Better for asians to create employment rather than leaving our people wallowing in poverty as long as the employees are able to sustain their daily lives. So gentlemen, the market is liberal bring forward yo investments and compete PERIOD!!!
The Government should work up on issues of Drug-quality. The information given by the minister of health that Depo-provera, an injection used by women for contraception was contaminated with the HIV virus is very terrifying. One wonders how many of such have filtered through our health institutions without detection. Who is responsible in approving the quality of these Medicines before they are supplied to health institutions? Zambians lets wake – up, we might be depleted. Lets push gov to act.
Bushe ba Joze na Kuku babakwi? I do miss these guys to humble pregmatist
I think Indian and Chinese investment is good and we can not ignore the importance of these two growing economic giants.Last week British Premier was in these two countries.The Chinese have bought MG rover for instance a leading brand and Tata is on the verge of acquiring jaguar.They can not pull the funny stunts the pull in Africa because of regulations that they have to follow when they invest in developed economies.what we need is a mechanism of vetting what sort of investment is coming in a
It appears that we never learn. Which people never take money to the bank? Which group of people do money laundering? Which group of people never are interested in developing new infrastructure but only want profiteering? Which people have no regard for enumerating locals fairly? We really ought to be serious with our selling of our resources.
Indian ivestors have always been egocentric,they dont seem to care about the plight of their employees as has been the trend,lets not risk further by allowing these chaps to infest our economic landscape and externalise our resources.
Indians are operating in most of your host countries but are very well checked by the host governments. Eg, they own the biggest steel corporation i9n the world and employ the largest number of people employed by one corporation within England’s borders. But they don’t misbehave because the law keeps them in check. In Zed even if it was a Zedian running KCM marginalisation of the poor would still be there becoz no institution cares.
Mwanawasa naiwe nichani kansi? Haven`t we suffered enough under the chinese and now you allow your tuma brothers tuma indians to come and do their worst.When am i going to enjoy being in my own country? Nkala ko serious iwe chi Mwanawasa,don`t just nod yo head to anything foreign investors tell u-shame on you,stupid.
Is Mahthani part of the “Investors”. Though Chiluba may have a sour relationship with him, its worth listening to his advice on this Rajan, as he seems to have messed up KK, FJT and now its LPM.
His moves are lethal and only when you have been knocked out do you realise.
Problem with Indians is that they still believe in the caste system. This system among other things believes that dark people are inferior beings. This is the reason why Indians will never behave in a stupid way towards white people. Sadly in Zambia our leaders are easily bribed by these Indians hence law or no law the Indians will do as they please. It is strange that Zambian presidents have this propensity of making friends with Indians and they end up walking all over Zambians because they know they have state house support.
The problem is not the Indians or Chinese investors, the problem is with us Zambians!!!! We need to give them conditions which will work to our advantage!!!!
Rubish Rubish! you foolish investors from India you just come to waste our resources and its sad our leaders allow you to come.
Zambians need to encourage the right foreign investment. Rather than simply mining and exporting raw materials, if foreign investors can start manufacturing and other value added initiatives, this will be beneficial for Zambians. I agree with most that the government and laws need to be firm to keep the foreigners in check. You have to be careful of all investors whether Indian, Chinese or European.