President Edgar Lungu hjas said that the Zambian Government is looking forward to receiving serious investors into the country who will respect the national values, investors who will not abrogate labour laws, and investors who are not only interested in profit-making, but those who are willing to plough back in communities where they operate from.
The President said this in Solwezi Monday morning when he officially opened the Expo North West Zambia 2019 under the theme; “Unveiling the hidden treasures.”
The President said government is also committed to accelerating economic development by supporting initiatives, which are aimed at attracting both local and foreign investors.
President Lungu said the expo is for Zambia to exploit, and unlock the investment potential that North Western Province presents in various sectors.
“I urge all investors to interact freely during this expo to secure good investment deals, and long lasting synergies, as you seek investment opportunities in this province, and Zambia as a whole. This event is an opportunity for the private sector to leverage natural resources that this province offers to set up industries here,” he urged.
“We in the PF government believe that the private sector is a catalyst to supporting our quest to improving the lives of our people through wealth and employment creation in line with the vision 2030. In this regard, the North West Expo provides vast opportunities for potential investors to sample the enormous prospectives that north western province has to offer in all sectors of our economy.”
President Lungu stated that North Western Province is endowed with tremendous investment prospects in mineral, oil and gas exploration, large and small scale mining, manufacturing and processing, including, canning, alternative and renewable energy, agriculture, livestock and fisheries, forestry and tourism, just to mention but a few.
The Head of State further stated that these sectors mentioned are the thematic areas of this expo.
“This province is home to various tourist attractions amongst them three national parks and game management areas namely Busanga, Kafue and Lunga national parks. The source of the Zambezi and Kafue Rivers, and several rivers provide a landscape which could be tapped into for various investments in tourism. North western province is also well known for its mining activities by among other mining companies; Kansanshi Mine in Solwezi, Barrick Lumwana Mine, and Trident Mine Project in Kalumbila. These investments as you have already heard, have in turn created infrastructure, and housing development opportunities in the province,” said President Lungu.
The President also mentioned that he is aware that there is potential for hydro power generation in Mwinilunga, Chavuma and Zambezi districts.
He further said there are numerous prospects in multi fruit processing plants in Mwinilunga, and Ikelenge districts, and high quality organic honey production in the province which still remain untapped.
“Ladies and gentlemen: It gives me great pleasure to note that our traditional leaders in this province, north western province are supportive of the investors here, and are willing to welcome more investors. I was trying to find out why traditional leaders in this province are highly supportive, and i was told, they are highly educated, and one is pursuing a degree to you our chiefs, keep it up, and continue being the model let me also assure you that my government in partnership with traditional leaders, and all stakeholders in the province will facilitate inflow of investment in various sectors spread across the province,” he said.
“This country and this province too, have continued to receive foreign direct investment, as well as domestic investment, as a result of the conducive business environment, where the private sector plays a key role in the economy. I am glad to note that expos that have so far been held in Luapula, northern, central and Copperbelt province are now yielding dividends. These provinces i have named have been receiving positive responses from investors within, and outside Zambia. For this reason my government has remained focused on providing suitable regulatory environment for the private sector to thrive.”
President Lungu further said that he has no doubt in his heart that government’s resolve for a better Zambia will bear fruit sooner than later, and that his government will remain steadfast to transforming the country’s social and economic landscape, as outlined in the seventh national development plan, and the vision 2030.