Business

Zambia attractive for investment – envoy

DARLINGTON MWENDABAI, Chipata
ZAMBIA is the most attractive investment destination in southern Africa, Italian Ambassador to Zambia Filippo Scammacca has said.
Mr Scammacca said Zambia has remained attractive to the outside world for investment because of good economic policies and uninterrupted political stability, among other incentives.
He said Zambia has a government that has put in place a long-term vision that is making it easy for the country to be the best foreign direct investment (FDI) destination in the region.
Mr Scammacca, who paid a courtesy call on Eastern Province acting permanent secretary Royd Tembo in Chipata recently, said despite Zambia’s high interest rates that slow down FDI, the country is still comparatively a secure investment destination.
Mr Scammacca was in Eastern Province to inspect Italian-funded projects.
“The relationship between Zambia and Italy is strong. Zambia is a favourite investment destination compared to other countries in the region,” he said.
He was, however, quick to mention that there is also need for Government to work on macro-economic strategies to create a more stable environment for increased FDI.
He said because of the good ties between the two countries, Italian companies have started setting up base in Zambia.
He said the tomato paste processing plant in Mkushi is evidence of Italian companies’ desire to take advantage of Zambia’s attractive investment environment.
Mr Scammacca said he will continue to promote investment opportunities between the two countries, while urging Government to ceaselessly market Zambia as the best place for business.

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