- HH’s Abu Dhabi trip secures MoUs across various sectors
CHOMBA MUSIKA
Lusaka
PRESIDENT Hakainde Hichilema has secured six agreements worth a combined US$2.4 billion with the United Arab Emirates (UAE), in a major push to attract investment and accelerate the implementation of the Grow Zambia Agenda.
The agreements were signed yesterday during the Zambia-UAE Business Forum in Abu Dhabi, on President Hichilema’s first foreign trip since the August 13 general election.
The President also held talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan at the Presidential Palace, where the two leaders discussed strengthening bilateral relations and expanding economic cooperation.
President Hichilema said the agreements were aligned with the Government’s ambition to move the economy from stabilisation to accelerated growth, job creation and increased private-sector investment.
“It was an honour to meet my brother, His Highness Sheikh Mohamed bin Zayed Al Nahyan. The UAE is a strategic partner for Zambia and never more so than now, as we implement the Grow Zambia Agenda,” he said.
Among the agreements is a memorandum of understanding between the Zambian Government and DIHAD Sustainable Project Management for the development of a Medical City on 100 hectares near Kenneth Kaunda International Airport in Lusaka.
The project is expected to position Zambia as a regional healthcare services hub.
Another agreement between Sekute International Free Zone Limited and Guidry Ports Services L.L.C. covers logistics and port services.
The other agreements cover technology, biotechnology and other sectors.
President Hichilema said Zambia’s ambition to produce three million tonnes of copper annually would require about 8,000 megawatts of electricity, creating significant investment opportunities for the UAE and other investors.
He clarified that the 8,000MW requirement was specifically for copper production and did not include electricity needed by the wider economy.
The President said reforms in the energy sector had opened opportunities for independent power producers, electricity traders and private investment in transmission and distribution infrastructure.
He also highlighted long-term power purchase agreements of between 20 and 25 years as an opportunity for investors seeking stable markets.
“Through the Grow Zambia Agenda, our goal is to double the size of our economy. That means more revenue to fund public services, more jobs and more business for Zambians. Partnerships like the ones signed today are how we get there,” President Hichilema said. https://enews.daily-mail.co.zm/welcome/home
