FRONTEKS, a Turkish agro-processing company, has pledged to invest an initial US$ 4 million into an agro-processing plant in Zambia.
Fronteks chairman Metin Gulec has rated Zambia as the best investment destination in Africa with incomparable incentives for investors.
Mr Gulec said Fronteks, which is also renowned for infrastructure development, will in future consider investing in real estate and infrastructure development in the country.
He said this when he paid a courtesy call on Chargé d’Affaires at the Zambian Mission in Turkey, Bwalya Nondo.
Mr Gulec assured Mr Nondo that he would use his influence to invite other Turkish companies to invest in Zambia.
He said he will announce his travel plans to Zambia as soon as internal administrative procedures are finalised.
And Mr Nondo assured Mr Gulec that his choice for Zambia as an investment destination is right because the country has the right investment climate, political stability, appropriate incentives for investors, and availability of labour.
“We are trying to encourage value addition to help create jobs and promote technology transfer for our people,” Mr Nondo said.
He also observed that Zambia is centrally located and Fronteks can take advantage this strategic position by exporting products to the entire southern African region in addition to the local market.
The Zambian mission in Ankara has been identifying and interacting with reputable Turkish agro-processing companies that manufacture products out of fruits in an effort to attract them to invest in Zambia.
This is according to the statement issued by the First Secretary for press Jerry Munthali at the Zambian embassy in Ankara, in Turkey.