The Ministry of Commerce, Trade and Industry has urged the Zambian diaspora in Australia and New Zealand to take advantage of the business environment in Zambia and invest to contribute to the growth and diversification of the economy.
Speaking during a virtual meeting, the Ministry’s Permanent Secretary Mushuma Mulenga said the Zambian government has created a conducive investment climate that encourages partnerships between indigenous and foreign enterprises.
Government values private sector investment and stands ready to support the diaspora in exploiting investment opportunities in the priority sectors of manufacturing, agriculture, energy, mining, and infrastructure,Mr. Mulenga.
Meanwhile, Zambia Development Agency (ZDA) Manager for Investment Promotion Samson Simwanda said Zambia’s improved business ranking by the World Bank regarding the “Ease of Doing Business” in 2020 was a result of business reforms the country had undertaken.
Zambia is ranked 4th in both COMESA and SADC and 5th in Sub-Saharan Africa by the World Bank on the Ease of Doing Business which proves that Zambia is succeeding in creating a conducive investment climate,Mr. Simwanda.
Mr. Simwanda has since encouraged the diaspora to utilize investment incentives announced by the government in the 2021 National Budget.
And, Zambia’s High Commissioner to Australia, Frank Bwalya said the initiative by ZDA to interact with the diaspora and encourage them to invest would greatly contribute to Zambia’s vision to be a middle-income country by 2030.
Mr. Bwalya added that the Mission was doing its best to facilitate applications for dual citizenship so that individuals who lost their Zambian citizenship could have it restored and given a chance to invest in Zambia.
Further, President of the Lusaka Chamber of Commerce and Industry Alexander Lawrence observed that by investing in Zambia, one would be guaranteed of access to a combined regional market population of 800 million people in COMESA and SADC for goods and services.
The virtual meeting was organized by the ZDA in conjunction with the Zambia High Commission in Australia and was attended by the diaspora in Australia, New Zealand, members of business associations in Zambia as well as other foreign and local prospective investors.