Zambia’s Ambassador to Ethiopia Susan Sikaneta said Zambia tops the list as one of the countries in Africa with a conducive environment for foreign investment.
Speaking when she received a delegation of German investors at the Zambia Embassy in Addis Ababa, Ethiopia, Ms. Sikaneta said the investment climate in Zambia was one of the most attractive on the continent.
Ambassador Sikaneta who is also Permanent Representative to the African Union said Zambia enjoyed peace and stability and had not witnessed any conflicts or wars that could interfere with investments injected in the country.
She said the tax policy in Zambia is good and attracts a tax holiday initially for big companies that invest in Zambia for a longer period.“There are also incentives for investing in rural areas”, Ms Sianeta said while referring the investors to the Zambia Development Agency-ZDA-.
Ms.Sikaneta pointed out that the investors would be sowing the right seed by including Zambia as an investment destination as they establish companies in Africa.
She welcomed the proposal by the German Investors to set up small and medium enterprises saying it was a good move that could create employment among the youth.
Ms.Sikaneta said as it stands, the civil service was unable to absorb all graduates and it was through creating enterprises that the youths could be self sufficient.
She also said the focus of the AU/EU summit recently held in Abijan , Ivory Coast acknowledged the need for the young population in Africa to have education and also venture into entrepreneurship .
Ms.Sikaneta said government was now focused on economic diplomacy and wanted to ensure that Zambia reaps benefits of being in good business, trade and economic relations with the outside world.
She said the government had seen that having good relations amongst countries was not enough hence the call for profitable economic diplomacy that benefit countries and peoples.
And the German investor pledged to establish a high level programme in Zambia that would focus on Foreign Direct Investment, establish a National Education Programme and initiate a Small and Medium entrepreneurship programme in Zambia.
Chairman and Founder of Abessinia Information Technology Company based in Ethiopia, Frank W Michel said his company will also focus on strengthening the International image of Zambia and intensify the relations with Germany.
He said Zambia has been targeted because of the good and stable economic environment.
Mr. Michel said unlike other countries that have no good investment portfolios, Zambia had proven itself to be a suitable investment destination.
He emphasized the need for Zambia to enhance its marketing of the countries Natural resources and investment opportunities to the outside world.
Mr. Michel said the education programme that will be introduced in Zambia will mainly focus on women and girls whose status need to be uplifted.