INVEST IN AGRICULTURE LUNGU TELLS PRIVATE SECTOR

By ANNIE ZULU

PRESIDENT Edgar Lungu has called on the private sector players to supplement Government’s effort in agricultural developments.

President Lungu noted that there was need for more investment in agriculture, as it was the key priority sector in the country’s economic agenda.

He said Government had developed well-articulated agricultural policies and strategies aimed at attaining private sector role in attracting investment and trade.

He therefore urged the private sector to take advantage of the prevailing conducive business environment being provided by Government.

The President said this in a speech read by Vice President Inonge Wina yesterday at the commissioning of a US$5 million Zambian Fertilisers Limited Blending Plant located in Lusaka South Multi Facility Economic Zone.

 “This is the only is the only way we are going to create wealth, employment and increase our foreign exchange earnings,” President Lungu said.

Mr Lungu commended Export Trading Group (ETG) for the massive investment in the fertiliser plant.

He said Government supports investments that enhanced fertilizer production, because the fertiliser industry in the country was currently relying heavily on imports, which had contributed to late delivery of fertiliser to farmers.

President Lungu also indicated that the construction of the fertiliser blending facility would significantly help to meet the rising demand for the commodity.

“I am hopeful that with such investments, Zambia will be self-sufficient in fertiliser production. This will greatly help fertiliser importers and distributors to source the commodity locally,” he said.

Meanwhile, the President disclosed that the Lusaka Multi-Facility Economic Zone had attracted 34 investors with an investment threshold of US$ 1.3 billion with over 2, 000 direct jobs created.

ETG Executive chairperson Mahesh Patel praised Government for creating a conducive investment environment for the private sector.

Mr Patel said the fertiliser plant had created 123 permanent jobs as well as over 400 indirect jobs through agro-dealers across the country.

He also said the company would be selling its products not Zambia but will also spread its wings to the international market.

The US$5 million fertiliser blending  comprises among other production sections and the blending section, which is the main production line.