KELLY NJOMBO, Lusaka
THE Zambia Development Agency (ZDA) says with vast business opportunities, Zambia is among the top 10 most attractive countries for investment on the African continent.
ZDA director general Patrick Chisanga said the agency remains committed to market Zambia’s various trade and investment opportunities globally to increase foreign direct investment and spur economic growth.
Mr Chisanga said this when he addressed a delegation of Polish investors that visited the country to explore business and investment opportunities and business co-operation with Zambia.
Last week, a 24-member delegation, which comprised the Polish Chamber of Commerce, companies in the energy, agriculture, information and communications technology, transport and logistics sectors as well as government representatives, were in the country to identify various business opportunities.
The delegation was also accompanied by the Polish ambassador to Zambia, Anna Raduchowska-Brochwicz.
“In the year 2015, Zambia’s notable ranking is as a result of business reforms and improvements… the World Bank ranked Zambia fourth in COMESA in the ease of doing business, the World Economic Forum ranked the country eighth most competitive country in Africa, while Forbe’s ranked it seventh best among 54 African countries in ease of doing business,” said Mr Chisanga.
He informed the investors of the numerous investment opportunities available in energy, manufacturing, tourism, agriculture and infrastructure development sectors, which have been identified by Government as priority sectors.
He cited various energy investment projects that include Luapula River Hydropower Scheme (800-1,200MW), which consists of seven different sites, and a feasibility study that was done in 2001 by Harza and Zesco, among others.
Mr Chisanga also revealed that investment opportunities available in terms of alternative energy sources include solar, geo-thermal, bio-mass and ethanol.
He also marketed the 10 farm blocks dotted around the 10 provinces of the country that are waiting for investors.
“As a bonus to the numerous investment opportunities, Government, through ZDA, 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.
Mr Chisanga is optimistic that Poland will also be one of the major investors in the country to promote job and wealth creation for the people of Zambia.
And the leader of Polish 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.
Mr Wielinski further committed himself to come with another delegation of investors for the Zambia Investment Forum next year