- Mulenga says Government has prioritised private sector as the key driver of economic growth
FANNY KALONDA
Lusaka
ZAMBIA has attracted unprecedented investments, with at least US$14 billion worth of pledges actualised and over 190,000 jobs created in the private sector under President Hakainde Hichilema’s administration.
In a ministerial statement to Parliament yesterday on the New Dawn administration’s industrialisation drive since 2021, Minister of Commerce, Trade and Industry Chipoka Mulenga said Government has prioritised the private sector as the key driver of economic growth.
Mr Mulenga said when the UPND took over power, it also prioritised debt restructuring and restoring fiscal and macro-economic stability.
He said Zambia has witnessed unprecedented interest from foreign and local businesses to invest in the country from 2021 to 2025.
“From 2021 to 2025, US$14.777 billion worth of investment was actualised, with 192,000 jobs created,” Mr Mulenga said.
He said the amendment to the Investment, Trade and Business Development Act No. 18 of 2022 to provide incentives for expansion projects has been critical in facilitating some of the key investments in Zambia.
The minister also cited expansion projects under Trade Kings Group, United Capital Fertilizer, Chilanga Cement and Zambia-China Mulungushi Textiles as having been crucial.
“Another key reform we undertook was the enactment of statutory instrument (SI) No. 45 of 2025 on Preferential Procurement. This measure, if fully implemented, will further drive our industrialisation efforts,” he said.
Mr Mulenga told the House that despite some headwinds such as external shocks and power challenges in 2024 through to 2025, the manufacturing sector continued to show resilience.
He said the mining sector continued on its growth trajectory, contributing 9.3 percent to GDP in 2025, the highest contribution since 1990.
The minister said the Lusaka South Multi-Facility Economic Zone (MFEZ) has attracted investments worth US$2.04 billion and created 39,000 jobs between 2021 and 2025.
Mr Mulenga said currently, the zone has 40 operating companies while 206 are at different stages of development, and are expected to start operating soon and create more jobs.
The Zambia-Jiangxi MFEZ in Chibombo has also attracted investments in excess of US$128.4 million and created over 1,180 direct jobs since 2021.
“Another company is Sunvolt, which is Zambia’s first specialised battery-manufacturing factory trading as Airumi New Energy,” Mr Mulenga said.
“It has established its strategic base with a US$60 million investment at the Chibombo Jiangxi Economic Cooperation Zone.”
The company produces 400,000 dry car batteries per annum and plans to expand its production capacity this year to one million batteries per annum.
Mr Mulenga also said the Zambia China Cooperation Zone Chambishi MFEZ in Kalulushi has attracted US$2.5 billion worth of investment, creating 10,264 direct jobs.
Wonderful Group Industrial Park is also projected to attract companies with a collective investment outlay of US$2.45 billion and create 9,650 direct jobs of which 800 will be chemical engineers.
He said following the commissioning of the 300,000 metric tons per annum urea plant in 2025, Zambia is sufficient in fertiliser production for all soil types.
Government has further facilitated some major investments, most of which are expansion projects which have benefitted from the reform which Parliament supported, citing the Zambia-China Mulungushi Textiles…https://enews.daily-mail.co.zm/welcome/home
