Monday, June 17, 2024

ZDA signs US$80 million investment agreement with Chinese firm

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The Zambia Development Agency (ZDA) has signed an Investment Promotion and Protection Agreement (IPPA) with Zhong Yang Eco-Agriculture Industry Park in Chongwe aimed at enhancing investment cooperation between the two parties.

ZDA board chairperson David Masupa who signed on behalf of the agency stated that he is confident that the agreement will strengthen the existing partnership with the investment firm.

Mr. Masupa noted that the $80 million five-year planned investment in the agriculture sector by the company will go a long way in contributing to the country’s Gross Domestic Product (GDP).

He assured Zhong yang Eco-Agriculture industry park that the Zambian government will work with the company to ensure that the investment bares fruit.

Mr. Masupa thanked the company for investing in the agriculture adding that the sector is key in national development.

Bishop Masupa also commended the investment firm for partnering with the local communities in the country and making efforts to improve people’s livelihood.

“I am pleased that the company had already shown its commitment towards making a substantial contribution to the social and economic life of the Zambian community,” Mr. Masupa said.

He called on Chongwe municipal council to support the company as it undertakes various community projects in the district.

Meanwhile, Zhong Yang Eco-Agriculture Industry Park Managing Director, Wen Shunfan said the company’s emphasis is in commercial seed production, agriculture, tourism, animal husbandry, and fish farming.

Mr. Shunfan said the company has a target to create 450 permanent jobs for locals and more than 100 part time jobs in the construction sector.

He disclosed that the company will provide free agriculture training for the local people which will be fully sponsored by the company to empower people with modern skills in crop and livestock farming.

“We are happy to note that Zhong Yang Eco-Agriculture Industry park is committed to ensuring that the community takes centre stage in its investments. Corporate social responsibility is not just a business principle, but a Chinese cultural approach that seeks to empowering communities,” Mr. Shunfan said.

Speaking during the same event ZDA Acting Director, Jessica Chombo urged the company to work closely with the agency in its undertakings.

Ms. Chombo said that this would enable the agency to provide timely and vital support.

8 COMMENTS

  1. MAKE CHINESE MANDITORY IN SCHOOLS AS THIS WILL SOON BE THE OFFICIAL LANGUAGE
    ATLEAST IT WILL ERADICATE TRIBALISM KIKIKIKI

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  2. “He disclosed that the company will provide free agriculture training for the local people which will be fully sponsored by the company to empower people with modern skills in crop and livestock farming.”

    These all sound good on paper but as an investment business plan by a foreign private firm all sounds half baked…I want to know how much land you have given this Chink company and what is in it for them.

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  3. Excellent initiative STATED ABOVE…… WITHOUT KNOWING ALL THE FACTS
    HOW DOES ONE ARRIVE AT THAT ??????????
    BLIND FAITH IS DANGEROUS !!

  4. Good intention. But why Promotion and Protection Agreement? What are they planning to protect? I hope they will not get our local knowledge of seeds and practice and develop IP for China. Also we must guard against bio-piracy, which can lead to us buying our own local back at high prices. We can produce seed, do tourism, animal husbandry we know, fish farming we know and JICA did fantastic work. I hope ZDA has scrutinised this agreement.

  5. Let’s hope what is proposed on paper will be
    In reality.As most investors bring a fraction
    Of their investment requirements.let this
    Not be a ploy to bring more Chinese labour
    In the country.

  6. These China men will end up doing something else once they are granted all necessary authorization. Just wait and see. The issue land acquisition once complete it will be another story. Chongwe District Council officials to be on alert monitoring the Chinese activities other wise in future it will turn out that all the prime land will be Chinese owned.

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