ntlet onto Swedish companies whom she’s urged to quickly bring their investment into the Zambian energy sector.
This is according to Mr Anthony Mukwita the Charge d Affairs in Sweden who accompanied the Permanent Secretary to an energy indaba in Malmo the 3rd largest city in Sweden today.
“We have embarked on a Cost Reflective Tariff system in the Zambian energy sector that makes investing in the sector profitable now more than ever before,” Mrs Chola said.
An upward adjustment in power tariffs and eventual removal of subsidies that left a huge hole in the government treasury is expected to attract Foreign Direct Investment in the Zambian energy sector according to the PS.
Several Swedish companies domiciled in Stockholm moved to Malmo to have side line discussions today with the PS on how they could take a bite onto the Zambian energy cherry pie following the announcement of forthcoming competitive tariffs that will eventually plug the power deficit and make Zambia an energy power hub that can earn money through energy supply in the near future according to Brig General Chola.
Mr Mukwita said the presence of a high-level government official has convinced energy investors here that Zambia means business in opening its energy sector to international business.
Mrs Chola was the Key Note speaker at the two-day energy event that concludes May 31.
Zambia has escalated its economic diplomacy call and is looking at various opportunities to make its presence in missions abroad count. Last week Foreign Affairs Minister Harry Kalaba hit the road in Scandinavia with an escalated engagement in economic diplomacy.
Mr Mukwita said it would be a matter of time before ordinary people start to benefit from the efforts of various high level participation.
President Edgar Lungu has emphasised that he wants nothing but greater job creation and poverty reduction on his watch and the energy sector long ignored as unprofitable is one such avenue.