Government says participation of the private sector in the economy is a vehicle for creation of wealth for the nation and jobs opportunities for the local people.
Foreign Affairs Minister Harry Kalaba says government is for this reason making strides in reducing poverty through the involvement of the private sector’s implementation of various business reforms to make the business environment conducive.
Mr. Kalaba noted that Zambia is endowed with abundant land, water and other natural resources hence government has put in place income tax incentives for developers and operators for multi-facility economic zones.
The minister said this in Lusaka yesterday when he officially launched the US$1 billion One Belt and One Road Zambia Industrial Park, a Chinese conduit initiative investment platform organized by Tianjin Association of Industry in Zambia.
He implored Tianjin Association Group to work closely with the Zambia Development Agency, Zambia Chamber of Commerce and Industry (ZCCI) as well as small and medium enterprises in broadening the investment base.
He said the coming of the delegation is proof of Zambia’s favourable investment policies and environment.
And Delegation leader Liu Dao-gang the One Belt and One Road Zambia Industrial Park would transform Zambia’s economy by the consortium of investors from China.
Mr. Liu, who is also Tianjin Federation of Industry and Commerce Chairman, disclosed that six various giant manufacturing among them bicycle, battery and decoration plants would be opened in Zambia to demonstrate China’s milestones investment in Africa’ particularly Zambia.
Meanwhile, Zambia and China have signed a memorandum of understanding to further foster investment opportunities in Zambia.
ZCCI President Laurian Haangala signed on behalf of the Zambian government while Tianjin Federation of Industry and Commerce Chairman Liu Dao-gang signed on behalf of China.
He is leading a delegation of chief executive officers of reputable companies in China’s city of Tianjin.
The One Belt and One Road Zambia Industrial Park would spur new technological opportunities in Zambia, said Mr. Haangala, in his vote of thanks.
The delegation arrived in the country for possible investment in several sectors of the Zambian economy.
The four-day visit and investment initiative is the auspices of the Zambia Overseas China Association where Chinese business executives have shown keen interest to invest in the manufacturing sectors.