Zambia one of Africa’s top 10 FDI destinations

Thu, 24 Nov 2016 11:29:24 +0000

ZAMBIA is among the top 10 most attractive countries for investment on the African continent as can be proved by the various international ranking organisations, says Zambia Development Agency (ZDA).

ZDA director general, Patrick Chisanga, explained that Zambia’s notable ranking in 2015 as a result of business reforms included the World Bank which ranked Zambia 4th in COMESA in ease of doing business.

This is according to ZDA manager for communications and public relations, Margaret Chimanse.

Mr Chisanga was speaking when the agency hosted a 24- member delegation of Polish investors that arrived in the country to explore investment opportunities and business cooperation with Zambia.

“In the year 2015, Zambia’s notable ranking as a result of business reforms improvements include the World Bank which ranked Zambia 4th in COMESA in ease of doing business.

“The World Economic Forum ranked the country 8th most competitive country in Africa while Forbe’s ranked the country 7th best among 54 African countries in ease of doing business,” he said.

Mr Chisanga informed the investors of the numerous investment opportunities available in key economic sectors which Government had prioritised.

He named the various energy investment ready projects that included Luapula River hydropower scheme (800-1,200MW) which consisted of seven different sites and a feasibility study that was done in 2001 by Harza and ZESCO.

Mr Chisanga informed the delegation of the attractive investment incentives in Zambia which he said were second to none.

“As a bonus to the numerous investment opportunities, the Government through the Zambia Development Agency facilitates fiscal and non-fiscal incentives that are Corporate Income Tax at zero percent for five years, zero percent tax rate on dividends for five years and no import duty on equipment and machinery for five years,” he said.

He hoped that Poland would also be one of the major investors in the country to promote job creation and wealth for the people of Zambia.

And the Polish leader of delegation Jan Wielinski was impressed with the various investment opportunities in Zambia.

“We shall focus on these investment opportunities for our future investments even if we already have ongoing investments in the country,” he said.

Mr Wielinki committed himself to come with another delegation of investors for the Zambia Investment Forum next year.

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