The Zambia Development Agency (ZDA) has recorded 73.53 percent increase in investment ventures this year compared to last year.
ZDA Acting Managing Director, Albert Halwampa, said 95 investment ventures were registered with an investment of US$1.1 billion while 92 investments were recorded last year with an investment of US$ 631 million.
Mr Halwampa revealed that the investments were in manufacturing, energy, transport, construction, service, tourism and agriculture sectors, adding that the highest investment was recorded in the manufacturing sector with over US$390 million.
He attributed the increase to the favourable macroeconomic environment which government has improved following the decrease of inflation as well as the appreciation and stability of the Kwacha.
During a press briefing held in Lusaka today, Mr. Halwampa noted that ZDA monitored 27 actualised investment projects worth US$3.89 billion, stating that over 6,000 jobs were actualised from the projects.
“In terms of exports, the total export earnings also increased to US$2.83 billion as compared to US 2.82 billion dollars in the same period of 2021 representing an increase of 0.35 percent,” he added.
Mr Halwampa stated that non-traditional exports increased to over US$900 million in the third quarter of 2022 from over US$700 million in the same period last year.
“The agency continued to facilitate the comparativeness of exporters through various services as well as exposure to markets which resulted in deals worth US 27.98 Million dollars being recorded,” he explained.
Mr Halwampa said the agency anticipates to increase its performance next quarter through the prospected revision and enactment of the Zambia Development Agency, and the Investment Trade and Business Development bills into law which will support domestic investment, trade and business development in Zambia.
He further said the implementation of the US$50, 000 thresholds for local investors will attract local investors to come on board to invest in their own country.
Mr Halwampa has since called on local investors to take interest in investing in Zambia and take advantage of the favourable environment which government has created to support local investors.
“Many international investors want to invest in Zambia because of the improved macroeconomic environment. We also want our local investors to invest because the government has even given them a threshold to motivate them,” he said.
Is it real investment or investment pledges?
@Gunners: Pls tell us the difference between the two. Remember the saying”Monkeys always throw stones on thatched houses” Laughing ati thatched house, yet the monkey itself lives in the tree, where it filthy wet during rainy season.