THE Zambian Embassy in South Korea in collaboration with the Zambia Development Agency (ZDA) is planning to host a Business Forum in Korea in the second half of 2016 to woo Korean investors to Zambia.
The Forum would serve as a platform for the private and public sectors of both Zambia and Korea to discuss investment opportunities in both countries.
This is according to a press statement released yesterday by First Secretary for Tourism at the Zambian Embassy in South Korea, Nthemba Kamanga-Minja.
And Ms Minja said Zambia’s Ambassador to South Korea Mumba Kapumpa with Zambian Embassy staff members held a meeting with Zambia Development Agency (ZDA) Director General, Patrick Chisanga, on June 2, 2016 at the Zambian Chancery.
She said Mr Chisanga was on a private visit to Seoul, Korea to attend the 2016 Rotary International Convention that was held from May 28 – June 1, 2016.
Mr Chisanga also serves as the Chairman of Rotary International in Africa. In this capacity, his mandate is to coordinate Rotary’s Development and Humanitarian work on the African continent.
ZDA is responsible for a number of economic performance directions and that the organization is a product of a number of operational agencies being brought under one roof.
Mr Chisanga explained that one of the specific mandates is to develop the export dimension of Zambia beyond the copper exports and that the Government is making efforts to diversify the economy.
He mentioned that Non-Traditional Exports (NTEs) had been about 20 per cent of the export off-take but through sensitization and support extended to the NTE sector, the latest figures show that the percentage has risen to about 33 per cent.
Zambia is endowed with a tremendous amount of land, plenty of water and climatic conditions that favour crop and livestock production and as such agriculture has emerged as one of the primary sectors for the purposes of developing NTEs in Zambia.
Mr Chisanga went on to say that Government had set up 10 Farm Blocks in view of the said factors.
The strategy to be employed is to attract a Public Private Partnerships to help develop the surrounding areas through vertical and horizontal business linkages. He added that agro-processing also presents massive investment opportunities for the processing of crops, fruits and vegetables, as well as livestock and forestry products.
In the discussion, Mr Kapumpa outlined the efforts the mission has carried out thus far in promoting Zambia as an investment destination and tourism destination of choice and said the ZDA is one of the mission’s biggest partners.
Mr Kapumpa said that the meeting with Mr Chisanga would serve as a further building block in the plans that the mission has with the ZDA.