Electoral Commission of Zambia (ECZ) chairperson Justice Florence Mumba has urged Japanese Investors to invest in Zambia by highlighting various opportunities in various sectors of the Zambian economy.
Justice Mumba urged Japanese companies to consider investing in the tourism, agriculture, and the manufacturing industry which have been identified as priority sectors by the Zambian government.
She said there was great potential for investments in the energy sector as Zambia was experiencing shortage of power.
Justice Mumba also urged Japanese companies to seriously consider investing in value addition and as Zambia’s copper production is focused to unprecedently rise by 2011.
She added that the current smelting capacity was small at 3,000 metric tonnes against production output of over 550,000 metric tonnes.
Speaking at the same seminar, Zambia’s Ambassador to Japan, Godfrey Simasiku, has urged that country’s public and private sector to explore investment opportunities in Zambia.
Mr. Simasiku says enormous investment potential exists in many sectors of the Zambian economy such as in mining and power generation.
Speaking today during a seminar for promoting investment in Zambia focusing on mining in Tokyo, Japan, Mr. Simasiku further pointed out that Zambia was politically stable hence a safe haven for investment.
He also explained that the cost of doing business in Zambia had been reduced by establishing the Zambia Development Agency (ZDA), which acts as one stop centre for investment.
And Director for Geological Survey Department, Kennedy Liyungu said with the progress made so far in the discovery of oil and gas in the country, 29 blocks have been demarcated for oil and gas prospecting.
He said tender bids for interested companies will be opened in 2009 and has since requested Japanese companies to consider participating in prospecting for gas and oil in Zambia.
Mr. Liyungu said iron, manganese and nickel deposits have been found adding that other rare earth metals, nickel deposits have been found in Southern and Uranium deposits in North Western Provinces.
On Wednesday, December 17, 2008 the Zambian Embassy in Tokyo co-organized a seminar for promoting investment in Zambia focusing on mining and was sponsored by the Japan International Cooperation (JICA), Japan Oil, Gas and Metals National Corporation (JOGMEC) and Mitsui Mineral Development Engineering Company, Limited (MINDECO).
ZANIS/AJN/AM/ENDS