Commerce minister Margaret Mwanakatwe during the Swearing-In-Ceremony at State House on February 3,2015 -Picture by THOMAS NSAMA
Commerce minister Margaret Mwanakatwe during the Swearing-In-Ceremony at State House on February 3,2015 -Picture by THOMAS NSAMA

Commerce, Trade and Industry Minister Margaret Mwanakatwe has said that Eleven foreign companies have expressed interest in setting up companies in the Lusaka East Multi-Facility Economic Zone.

Mrs. Mwanakatwe said that so far a pharmaceutical company and a mushroom production firm have already started operating in Zambia.

The Minister was speaking to Zambian Journalists after attending the Zambia-China, Economic, Trade and Tourism Forum in Beijing.

Mrs. Mwanakatwe said the Lusaka East Multi- Economic Zone is a huge vehicle that government will use to drive the economic engine of the country.

She said President Lungu’s visit to China has played a big role in not only attracting but also assuring Chinese investors come into Zambia.

And Government has appointed an energy consultant to explore incentives to give to investors in the energy sector.

Energy Minister Christopher Yaluma said that the consultant is looking at incentives that can be given to investors in the solar energy sector.

The Minister said that the consultant is expected to complete the work by June this year.

Mr. Yaluma said that Government is vigorously looking at ways and means of addressing the power deficit in the country.

He was speaking in Beijing on the side lines of the Zambia- China Economic, Trade and Tourism Forum.

Meanwhile, President Edgar Lungu has said that he is determined to make Zambia a center of excellence in value addition to raw materials in Africa.

Jeff Banda reports that President Lungu said that Zambia exports a lot of raw materials in raw form and he is determined to ensure that the country starts adding value to its raw materials.

The President said that Government is exploring ways in which incentives will be given to investors that add value to raw materials before they are exported.

The President was speaking on the sidelines of the Zambia- China Economic, Trade and Tourism Forum in Beijing.

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8 COMMENTS

  1. they have been showing interest for the past 3 years madam , ask ba Bob Sichinga. Its one thing to show interest its quiet another to fulfill that interest. Wishing you well madam in your new job but you be measured against the like of Felix Mutati who was a high flyer.

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    • hahaha yeah they will always express interest if its 50 companies only 2 will actually invest but its take more that a tax free zone/tarrifs i hope the government could work with universities so when any investors comes in they know they have access to skills

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  2. What does it cost to set up shop there???
    Why only foregn firms ??
    Zambia for Zambians or Chinese??/

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  3. We are talking about value addition here meaning we are going to increase on our export base and earn a lot of fires. More meaningful job creations and economic diversification. Lungu is not sata or RB. The visionless Lungu has a dream for Zambia. Give him 6 months and we will judge him correctly. How do you expect a newly wedded couple to have a baby in two months. If maureens pregnant can’t show in 3 months how can el turn economy overnight.

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  4. If there’s anyone who can find water in a desert, its Margaret D Mwanakatwe, an exceptional talent – she will outdo herself, mark my words.

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  5. I wish these investors were given tough Terms of reference as they do on tribunals. Infesters(so called investors) are just enriching politicians leaving the most deserved poor zambians in high levels of poverty. I just pray one day these politicians will realise that messing up the economy and natural resources will hit even their children – children and it will never be selective. They need to respect the people of Zambia and give the something that will make them be proud to be Zambians. Countries that have only trees are able to give free education and look after the unemployed, yet Zambia has a lot of minerals. Cursed Leadership

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